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137 Posts
I wish more people would do the math before they consider buying a Prius. I ran the numbers and decided to buy one anyway, because I care more about the environment than my pocketbook. When my dealer said, "think about the thousands of dollars you'll save in gas", I ignored him, because I knew better. Most dealers understand little about the Prius, and most dealers will say anything to make a sale.
Unless our gas suddeny becomes expensive like in Europe (about $4 per gallon last time I was in Italy), I will have to drive my Prius for well over a decade before I'll start saving any money. Here are my numbers; you can adjust them to match your situation. I was driving a fairly fuel-efficient car, and I compared its purchase price and gas cost to the purchase price and gas cost of a Prius:
1. My last car was a four-cylinder mid-sized family sedan with a list price of $16,000 (96 Olds Achieva). I think its EPA rating was 28 city / 34 hwy, and my actual lifetime mileage was 28 mpg (miles traveled / total gas). So, it burned an average of 35.7 gallons of gas every 1000 mi.
2. The Prius is a comparable vehicle, but its list price is $5000 more, and my lifetime mileage to date is 43 mpg. (Sure, I get 50-55 mpg when I take longer city drives, but our normal usage is 10-15 minute city trips with occasional long highway drives.) I can expect this number to rise slightly as the car breaks in, so I'll assume 45 mpg, which is john1701a's average, and we live in similar climates. I will burn an average of 22.2 gallons every 1000 mi.
3. Gas prices in southeastern Wisconsin have been steady at $1.50/gal for the past year. That means the Prius saves me $18.60 every 1000 mi. I will have to drive it for 269,000 mi to save $5000. Since we drive about 15,000 mi per year (this is our only car, but we do a lot of walking/biking), this will take 18 years.
4. If gas rises to $2.50 tomorrow and my average mileage jumps to 47 mpg, it will only take me 9 years (139,000 mi). However, I think these numbers are unrealistic.
These numbers ignore other critical factors:
1. The main battery probably won't last 269,000 mi.
2. I could have earned a lot of interest on that $5000 in 18 years if I had stuck it in the bank instead of in a Prius.
3. It will take me longer to pay off that $5000, so I'll actually pay more if you include the extra interest on my auto loan.
I bought a Prius for two reasons: my 2-year-old son and my 7-month-old son. Taking care of the environment is rarely cheaper than trashing it. Buying hybrids not only reduces our personal impact on the environment, but it also encourages automakers that there is a market for such cars. They will only build them if we will buy them.
If this is your motivation, then the Prius is a great car for you to buy. If your location and situation is such that the Prius will actually save you money in a relatively short time, that's a bonus.
Douglas (2002 Silver, Wisconsin)
Unless our gas suddeny becomes expensive like in Europe (about $4 per gallon last time I was in Italy), I will have to drive my Prius for well over a decade before I'll start saving any money. Here are my numbers; you can adjust them to match your situation. I was driving a fairly fuel-efficient car, and I compared its purchase price and gas cost to the purchase price and gas cost of a Prius:
1. My last car was a four-cylinder mid-sized family sedan with a list price of $16,000 (96 Olds Achieva). I think its EPA rating was 28 city / 34 hwy, and my actual lifetime mileage was 28 mpg (miles traveled / total gas). So, it burned an average of 35.7 gallons of gas every 1000 mi.
2. The Prius is a comparable vehicle, but its list price is $5000 more, and my lifetime mileage to date is 43 mpg. (Sure, I get 50-55 mpg when I take longer city drives, but our normal usage is 10-15 minute city trips with occasional long highway drives.) I can expect this number to rise slightly as the car breaks in, so I'll assume 45 mpg, which is john1701a's average, and we live in similar climates. I will burn an average of 22.2 gallons every 1000 mi.
3. Gas prices in southeastern Wisconsin have been steady at $1.50/gal for the past year. That means the Prius saves me $18.60 every 1000 mi. I will have to drive it for 269,000 mi to save $5000. Since we drive about 15,000 mi per year (this is our only car, but we do a lot of walking/biking), this will take 18 years.
4. If gas rises to $2.50 tomorrow and my average mileage jumps to 47 mpg, it will only take me 9 years (139,000 mi). However, I think these numbers are unrealistic.
These numbers ignore other critical factors:
1. The main battery probably won't last 269,000 mi.
2. I could have earned a lot of interest on that $5000 in 18 years if I had stuck it in the bank instead of in a Prius.
3. It will take me longer to pay off that $5000, so I'll actually pay more if you include the extra interest on my auto loan.
I bought a Prius for two reasons: my 2-year-old son and my 7-month-old son. Taking care of the environment is rarely cheaper than trashing it. Buying hybrids not only reduces our personal impact on the environment, but it also encourages automakers that there is a market for such cars. They will only build them if we will buy them.
If this is your motivation, then the Prius is a great car for you to buy. If your location and situation is such that the Prius will actually save you money in a relatively short time, that's a bonus.
Douglas (2002 Silver, Wisconsin)