Maybe this should have gone in Dinghy Towing, but I thought it might be of general interest.
People are literally scrambling to buy hybrid vehicles now, some more than others. The Toyota Prius seems to be a much sought after car now, so let's use it in our unscientific analysis.
We'll compare it to a Toyota Corolla -- same manufacturer, and very similar in size.
I entered a 300-mile AutoTrader search from my home, and shopped specifically for 2007 models, with fewer than 30,000 miles, with Automatic transmissions.
The Prius' ranged from $24,800 to $29,900
The Corolla's ranged from $11,500 to $18,995
The Prius had an EPA highway rating of 51mpg in '07
The Corolla had an EPA highway rating of 38mpg in '07
Average miles driven per year in the US is 15,000
We'll use $4.25 per gallon for gasoline
I'll use the mid-range Prius price of $27,360 and the mid-range Corolla price of $15,250.
Based on the above figures, the BREAK-EVEN point for gas savings for the Prius owner would happen in JUST OVER 28 YEARS of ownership!!!
Interesting, isn't it?
Always a good idea to thoroughly do the math before jumping to the conclusion that a particular vehicle would be a good investment. Wish I were a Toyota dealer right about now, however!.......
true! i think people get caught up in their emotions, when gas prices rise really fast the allure of 51 mpg is just too much to handle! lol i have said many times, if gas started going up 3 or 4 cents a month 8 or ten years ago, gas would be higher than it is now and nobody would think much about it, but 1.00 or 1.50 in a year is just a shock to the system. also, you have the whole "green" thing with the prius
steve t.
74 discoverer 25'
p-30 454
sydney the half blue heeler
I had a 1987 chevy sprint that could get 52+ on the highway and 45+ city. I paid $7,000 for it new and drove it 240,000 and it was running fine when I sold it. Twenty years later the technology does not seem to give much better mileage, just a higher price. They seem to be way too caught up in performance. We need an option to get back to basic transportation. I would really look at a car that was 90% electric and 10% gas as a hybrid not the current versions.
The plug in vehicles will take off when the power companies change the electric meters to reduce electric prices recharging at night and well off peak demand times.
You're right on. Some people just don't think it through and do the math before making a move. The salesman that I bought my Mazda Tribute from last week said he had a couple come in a few weeks ago with a couple year old Chevrolet Tahoe that they were "upside down" on for nearly $17,000. They wanted to trade the Tahoe for a Mazda 3 to get better fuel economy. The salesman said he tried to explain to them that since they owed so much on the Tahoe, that the Mazda would cost them nearly double, taking into account the money they still owed. He said they refused to listed and that all they could talk about was wanting a better fuel efficient car!
The same way US customers are jumping on hybrids now, just few years ago they have been jumping on Hummers and Excursions.
Most of the World laugh how easy it is to brainwash average American, but this is really sad.
Your comparision still lack the estimate for battery bank replacement in hybrid.
Pessimist sees dark tunnel, optimist sees a light at the end, realist sees lights of coming train.Engineer sees 3 idiots on the tracks.
VernM wrote: Is no semblance of personal finance taught in the schools any more?
Unfortunately no. Junk like Shakespeare, History dating back many centuries to the 'who cares' eras, and other such garbage seems to overshadow things like personal finance, basic math skills, and common-sense everyday decision-making knowledge. What used to be a "well rounded" education has now turned into a tremendous joke. My parents both worked in the school system, and we currently have very close friends that are retired teachers, and the only response I've ever heard is the "well rounded" baloney. Too bad. Our education system's curriculum needs a revamp so bad it isn't funny. Go into any fast food restaurant and you'll see the products of what a "well rounded" education turns out!
And, it doesn't take into account what it will cost to replace those batteries after 7-8 years (if not sooner). People love to spend thousands, to save hundreds!! Ya see it all the time!!
Thanks for the math lesson!!
DH Bill / DW Claudia / DD Jenn / DS Chris The Paps! Sophie, Abby, Brandy, Kahlie and Annie
2000 Winnebago "Minnie" 31C, Ford V-10
Purchased April Fools Day, 2008 The Pets
I'd say they did a very good job of marketing the prius.
Some people are so driven by the media and hype that they just don't stop to think.
I swear some people would jump off the Brooklyn bridge is they were told they'd get better gas mileage if they did.
31 ft Four Winds
Chevy Tracker 4x4 BlueOx Aventa LX We must be willing to get rid of the life we've planned,
so as to have the life that is waiting for us.
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Ya see it all the time!!
