Should I buy a Prius? You do the math.

<div class='quotetop'>QUOTE(anne loftus @ Apr 13 2006, 08:41 PM) [snapback]239484[/snapback]</div>

Only 2 problems with your math:
1) Tax credit is "only" $3150 LINK to info, unless your state has a credit
2) There will be other costs; tax, tag, title, etc. that will add on some to your calculations, but should add less than a year to your payback period.

It is a great car and will serve you for years to come, but I would only do it if you indeed plan to keep it for years to come and you like it.

 

<div class='quotetop'>QUOTE(priusblue @ Apr 13 2006, 06:03 PM) [snapback]239488[/snapback]</div>

I bought Prius for the long term, but because of the low depreciation it has also been a good financial choice for those who have sold their cars early.

 

I got it to replace a larger gas guzzler than yours, makes the math easier. In the first year I used 360 gallons. Since August (end of first year) I have used 160. I got serious about mpg. My Ford Explorer was using 1000 gallons over a similar period. Now I could have purchased say a Ford Focus. But I wanted navigation, Bluetooth hands free plus all the safety features. I am saving money over my old ride. Not as much as some of the other cars I could have purchased. I am now really into serious mpg and will average much better in my second year. My life time average over this winter (colder than last) has been going up. Spring is here. Gas will be over 3.00 a gallon and I am doing quite well thank you. I have all the features I wanted in a car and better than average mpg. That is why I am driving what I am driving.

 

Anne, are you only planning on keeping the car for one year? Otherwise, you have to look longer term, say 3-4 years. Then your gas savings far surpasses your SUV.

I have averaged around 52-54 MPG for my first 4500 miles...and I drive around 2800 miles/month...with about 3/4 of that being freeway driving.

The cars are really fun to drive...and even if it cost me the exact same, I would choose this car any day.

I also look at the fact that, even if all things were equal (and the car cost me the same as a lower priced car with worse MPG), I am still using a lot less gas, and hopefully somewhat saving the environment.

Add the carpool lane and yahoooooo!

 

if you like the car, get it. sounds like you're in a situation where you can make this kind of call and not be too broke because of it.

it's about the gas prices, cost savings, and as you may find out... so much more.

rent one for a week. see how you feel after that. then make the call.

good luck

 

First of all.... don't crunch numbers at all until you take one out and drive it... if it doesn't so totally impress you that you have to have one... don't buy it.

Its not about the numbers... thats only a plus... its about the whole experience. Its a fine car with spunk and class and comfort.....forget its a hybrid and gets good gas mileage and then see if you like it on other merits alone.

I see it like a marriage... if you drive it and still have talk yourself into the marriage, you shouldn't get married... but if you can't live without it.... buy it!

 

Buy the Prius. You'll never look back at a 'regular' car again.

The Prius is the best deal out there, bar none. Gas continues to rise, air continues to get more polluted, oil imports continue to go up. The Prius is a no-brainer. And will be for the for-see-able future. Pun intended.

Curt.

PS I paid 24 grand for my safety package #7 in 2004. Love all the extras. Didn't need GPS, bluetooth, upgraded JBL stereo, or voice recognition. REALLY, REALLY, REALLY like the SKS (smart-key system) and vehicle stability control. SKS is the remote u leave in your pocket, never have to pull it out to get in the car or start the car. Truly 'keyless' entry and start.

 

<div class='quotetop'>QUOTE(finman @ Apr 14 2006, 06:28 AM) [snapback]239660[/snapback]</div>

The amazing psychlogical thing that happens with the extras is that truly we start out "not" needing them, but when we get them, they are so cool we feel we can't live without them.

Think about your cellphone, HD TV, Satellite tv, internet etc etc... all of them we were doing just fine until we got them...... same with nav etc.... unless you never go "anywhere new" the nav is a kick to be able to see where you are at in relation to everything else at any moment.... I love the peace of mind and comfort of leather. yada yada yada...

I've only heard 3150 for tax credit unless they are adding on something...
there are tons of links on this forum..... print off something and ask them about it.

 

<div class='quotetop'>QUOTE(anne loftus @ Apr 13 2006, 05:41 PM) [snapback]239484[/snapback]</div>

See the attached spreasheet for gas milage calculation. If you have excel, you can play with the inputs.

Basically you save $1,667 a year in gas, or $16,667 for the 10 years, 200,000 you intend to drive it.

This assumes $3 a gallon gas, which over the next 10 years is probably conservative.

George

 

Another Error in the Logic!

You can get your tax credit immediately, you don't have to wait till you file your taxes. Just reduce your tax withholdings by the amount of the credit and you will get the credit month by month rather than waiting for a refund. You should never ever want a tax refund, it just means you gave the government an interest free loan of your money.

 

We also had an '04 Honda CRV - nice vehicle, and we really liked the size, but mine was one of the CRVs that almost caught fire (the first oil change was botched at the dealer, ended up with a double gasket, oil leak, and smoke, but thankfully no fire). Anyway, since then, I've been wary of the CRV and I from time to time I've considered other vehicles.

We probably would have kept it, tho, but my wife's office is moving, and two of the other three people in our carpool are also moving, and that spells the end of the carpool. We're in Northern Virginia, we commute to DC every day, and to be blunt, we needed a hybrid for the clean fuel tag and access to the I95 HOV lanes.

I consider the gas mileage, and being green, and $3150 tax credit, and all the really neat gadgets in the Prius to all be secondary to getting that clean fuel tag. On the other hand, the Prius is without a doubt the most interesting and innovative vehicle I've ever owned, and if our experience with the Prius comes anywhere close to what I think and hope it might be, we may never buy a non-hybrid again!

SKS - Smart Ket System - another neat piece of technology

 

If money is the primary reason, and you want a Toyota for some reason, maybe you should look at a used Echo. They get almost the mileage of a Prius at nearly half the price. I've decided to get the Prius because money is not my primary reason for buying a car.

• I want to encourage a step in technology that reduces fuel consumption and pollution.
• I am intriqued with the technology
• I like the size of the Prius, and hope to carry four people in it (saves even more gas if the car is full)
• I want a brand-new car. It's an emotional decision!
• I want a reliable car and Toyota is well-known for that.
• The tax credit is nice
• I'm only getting side airbags also, because money is one of the concerns.

 

My 2 cents -

I had my '02 mini cooper for 3 1/2 years before selling it and buying a prius.
In general, I'm happy with the prius but, apart from gas mileage, would say that it is an unexciting car.
The mini was an instant gratification car - looked good, good features for the cost (mmmm .... heated seats), a blast to drive, good conversation, etc.
The prius is a longer term gratification car. Presumably good reliability (hopefully better than the cooper) and great gas mileage.
From a strictly monetary standpoint, it will be a really long time before I recoup the total cost of selling the cooper and buying the prius.
But every week or so I have to go get gas ... and the person in front or beside me at the pump dumps $50 or more worth into their car while I strain to get $20 worth ... and I get a certain satisfaction that is hard to put a price on.
May not be logical, but it makes me happy.
YMMV.
good luck on your decision.

 

Look at the bigger picture rather than simply gas cost.

What about insurance? Will owning a Prius lower your insurance (engine immobiliser and theft deterrent system)?

Maintenance - Compare Honda and Toyota maintenance. Based on my friends who have Hondas, it seems Toyota has lower prices for scheduled maintenance

Wear & Tear - the Prius has electric power steering so no power steering fluid to replace. It also has extended brake pad life because of regenerative braking so brake pad replacement costs are reduced

I own an 04' I love the car it has saved me a ton of money in gas, I like the look of the car "it stands out", There is plenty of room in the car (its concidered a mid-size car), It saved me money on ins. save save save . I agree with the statment made above, there are many conciderations..

Dont start stoning me yet, But have you looked at the Hybrid Civic? Its a smaller car as it doesnt have a hatch-back, it does have a trunk, but its priced cheaper than the prius, that is if your watching the cost factor. I looked into the civic but the wife thought it looked like a shoe horn she said she felt like she was sitting in a chevett she fell in love with the prius the rest is history, the wife said she will not own or drive anything other than a toyota hybrid...

The amazing psychlogical thing that happens with the extras is that truly we start out "not" needing them, but when we get them, they are so cool we feel we can't live without them, My salesman called it goin for the gravy!

 

<div class='quotetop'>QUOTE(Tideland Prius @ Apr 14 2006, 04:38 PM) [snapback]239916[/snapback]</div>

My next car will have a SKS. One of those thing I did not know I wanted. Keeping the key in my pocket is great. I have added "true" hands free to my cars for several years and would not be without it. I have to say now that I have a compatible phone the one touch is a further improvement. It is a lot of things for me but I am a happy camper.