Justify cost of a Prius!

<div class='quotetop'>QUOTE(8AA\";p=\"86142)</div>

The "talk" is already an introduced bill that has been proposed in the House, which was "endorsed" by the White House in the recent Bush speech.

As for "substantial," it's really not. It is an improvement. The proposed bill is for a $1,000 tax CREDIT (not deduction like now) for a hybrid. The $4,000 tax credit that's frequently misquoted in the press is only for fuel-cell cars, which don't even exist yet.

So, this year (unless the new $1,000 tax credit goes into effect for this tax year instead which would supercede the current law), the $2,000 Adjustment to Income (effectively a deduction that's available to all, even if you don't itemize) at most is good for $600 reduction in your taxes...for me it will be $500. It all depends on what your marginal (top) tax rate is.

 

[
This means total cost = $0.00!!

Any thoughts?? Any of my cost savings totally inaccurate? I'm going to dealer today, just to look at them and find out what the wait time is (and see if there is an MSRP markup).[/quote]

Your calculations, I think, are more wishful thinking/rationalizations rather than a sound financial plan. There are too many variables depending on too many other people willing to buy into your idea. The nice thing about the Prius is that you DONT NEED TO JUSTIFY BUYING IT!! You want to upgrade to a Prius? Just do it, but you should know:
1. You won't get the posted EPA mileages. 55 mpg seems a bit high for average mileage given that most of us are getting about 45-50 mpg. A lot depends on the kind of driving you do as I'm sure you know. Freeway driving eats up the hybrid advantage a lot.
2. Gasoline may well get to 3.50, but it may also hover around 2.50 for long enough to throw off your estimated fuel costs/savings.
3. Itemizing to the detail you've done may or may not pan out. My suspicion is that you're several thousands bucks off the mark, and that you won't really break even. No one breaks even buying a new car. The high resale value of the Prius is great if you want to sell it, but meaningless if you plan to keep the car for 12 years.
4. You are not likely to recoup the cost of the Prius in gas savings. As you correctly stated, the "greenness" factor is priceless.
5. The Ford is a decent car, as your girlfriend points out, so you aren't having to sell the car, you WANT to sell the car.
6. So, to repeat myself, if you want to get a Prius, yo should do it and be glad to be doing something positive for the environment.
Let us know what you decide.
Bob

p.s. I kept my Ford Escort for three more years after I first thought I wanted a Prius. I couldn't justify, nor afford, buying a new car. When the Escort topped out at 160k and was still worth about a 1000 bucks, I sprung for the Prius and I'm glad I waited because I got a 2004 model.

 

<div class='quotetop'>QUOTE(VisualMonster\";p=\"87776)</div>

On the contrary: now you can balance the cost of hiring a personal guide each time you travel into unfamiliar territory. You've got to figure at least $200/hr for that service.

 

Think if it this way.

It is much easier to justify the cost of a Prius than it is to justify the cost of a Hummer.

 

Whenever I read a statement like:

[align=center:5c78bbf290]Justify the cost of a Hummer![/align:5c78bbf290]

Or Jaguar, or Corvette, or any car over $20K.

People want particular cars for a lot of different reasons; not all of them come down to $$.

(Though if they did, I think the Prius would look pretty good overall.)

 

Try this gas savings calculator:

Hybrid Vehicles Gas Savings Calculator.

 

<div class='quotetop'>QUOTE(GAGendel\";p=\"87460)</div>

You can get $200 from Toyota for returning a spent HV battery for recycling.

 

Just got a call from the saleman at my dealership. They have an 05 Tideland coming in later this coming week with package 5 and is AVAILABLE. Im in Buffalo NY. Anyone interested call Jack at 716-625-8444, tell him Chris told you about the car.