Cost Benefit Analysis of Buying/Not Buying the Prius

Another factor often overlooked is the depreciation on the vehicle you are trading. If it's a late model, it is losing value monthly--so it makes sense to trade it ASAP. At least it did about 6 weeks ago before the big rush on Priuses.

 

I needed a new car, the cars I was considering were the Ford Fusion and Honda Accord. I held onto my last car for just over 10 years until it died. It was a subcompact sporty car with a tiny backseat and we needed something with a little more room for out son. Not only does the Prius get WAY better gas mileage, but it was more roomy and price wise it costs about the same as the two above mentioned vehicles. In fact a girl I work with just bought a new Accord it doesn't have one single thing in it that my car doesn't have except she has leather and a moon roof. Her cost was about $1500 more then my Prius. Only disadvantage of the Prius is that the trunk is smaller, but I get 25 MPG more then either of them.

 

One thing I find is that alot of folks compare a prius to a corolla etc. However the prius has more interior room and with the hatchback makes the cargo space more usable than say a corolla. So ya need to compare a Prius to a small SUV or other hatchback cars

 

I think the point should be that there is nothing out there that compares to a Prius. NOTHING! You don't go buy the car that saves you the most money or you end up walking everywhere barefoot. You go into the dealer looking for a vehicle that impresses you. For me that was the Prius. Getting a car that pollutes less and gets great gas mileage is nice, but when you get all that in a car you love, that is priceless.

 

My philosophy is that I want a Prius, I can afford a Prius and I don't have to justify myself or my Prius to anyone else. This is all the CBA I need...IT MAKES ME HAPPY!

 

Well, comparing apples to oranges, I might recommend that anyone considering the economical value of a Prius at the time of this post consider that many Toyota dealerships have found sales to be somewhat lackadasical due to the recent unintended acceleration issues they've faced. Needless to say, some income is better than no income. You might find the economical value being on par with some of those vehicles you wish to compare.

 

Buying my 2008 Prius costs about the same that it would have to keep my previous car, a 2003 Camry. The Camry was well out of warranty at over 130k miles and had a few issues that needed repairing and the dealership that I bought the Prius from offers a lifetime drivetrain warranty on top of the manufacturer warranty. My daily commute is about 50 miles round-trip, and the amount that I am saving in gas each month pretty much covers the $200/month payment on the Prius. Less pollution is a bonus, but the main reason I bought the Prius was to save on fuel costs! People should remember that buying a brand new car for $30K+ isn't the only option.

 

We traded a 2001 Oldsmobile Mini Van for a used 2008 Prius. It is our first non American car.

I did not go looking for a Hybrid Car. It was the last one we took for a test drive. I wanted something my wife could drive around town and not be breaking our wallets. In the last year we saved over $2000 in fuel cost over that mini van.

So the sticker price was more than we usually paid for a car but the fuel savings offset that. It is easy to service as far as oil and filters go, I have been doing it all myself. Maintenance has been as expected, minimal.

I plan on trading it in sometime before the extended warranty expires and we pay the thing off. Right now I would buy another.

Other American made cars and trucks I have owned each had a major malfunction in it's life that cost a couple of thousand dollars to fix. So far the 2008 Prius only needed a 12 volt battery. If we make it 4 more years without a major breakdown it will far surpass the value of any American Vehicle I have ever owned. I'm 55 and had a lot of cars and vans.

As far as how my Local Toyota Dealership treats me. Sadly it's been no different than the others. No benefit there. Belligerent idiots.

Bob