Here's a story that was slashdotted about the payback for hybrids. Only One Hybrid Car Pays Back Its Owners; Know Which One? - Green Car Reports They claim that the Prius hybrid gas savings over the life of the car doesn't pay for the hybrid part of the car. However - no real data on the claim. My impression is that at $24kish - the model II represents good value for money without even taking the hybrid savings into account. I'm not sure what ICE car would be comparable at that price. For the value buyer, the Prius seems to be one of the few cars that I would think about buying for my once every 10-15 year car purchase. With almost 2 million Prius's on the road, I would bet that there is some good number of thousands of dollars of cost savings per car due to the production volume and optimization. It also seems to be a moneymaker for Toyota. Of course - if you got any cash for clunkers money, it's an even better value for you. (sorry if this is posted elsewhere- couldn't find it in a search, but I never seem to be able to).
Because this study is from the BCAA, the prices are very obviously Canadian, which we have heard repeatedly are high for the Prius. Here in the States, I will ignore any study based on non-U.S. prices. Myself, I believe I have already saved the price difference between the Prius and Matrix in my mere 14 months of ownership. Though a big chunk of this was the (now expired) state sales tax exemption for certain high-mpg cars.
This assumes you keep it 5 years only! I plan on keeping my Prius 20 at least... What is the savings over 20 years?
I typically don't buy a vehicle UNLESS it's 4-5 years old. Let the original owner take the hit on depreciation! I bought a 2001 Prism in '05. Let my youngest daughter have it when I bought my '04 Prius in '09. Replaced my wife's '01 Ranger with an '05 Prius this past June. I expect to hold onto both Prii until they pass 200k miles...perhaps longer.
My wife used to have an e-300. The dealer wanted almost a couple thousand to change out the rubber body mounts, when they went bad. So we just left it. The dealer wanted $500 to fix the cruise control when it went out. and so on and so on. Quite pricey to take it in. with 100,000 on the Prius, we're still waiting for the first costly repair. Nothing yet.
I've lost money on my Prius. I've lost money on every car that I've owned, which is why I consider cars an expense, not an investment. Tom
I question that survey, too. Like every advertiser on the planet, they seem to confuse 'save' with 'spend': buy a Mercedes and 'save' money? Uh, no. Also, I didn't see resale value factored in anywhere. The biggest error, at least with the Prius, is that there isn't a 'gas-only' equivalent for comparison. The Matrix is an entirely different car, not just a non-hybrid version of the same thing. The timing is suspicious, too. A week after the rebate for hybrids ended, they come out with a 'long-term' test...nope, no bias there, BCAA.
Pay back time on a swimming pool in a warm climate: first time you jump in. Pay back time on a Prius - not very long considering lack of extraordinary maintenance, it's a PZEV (cleaner air, pay back immediately) and quiet.
Well I played with the numbers before I bought mine. Lets see the average mileage I was getting out of my 2.3L four cylinder Volvo was around 20 mpg combined. Well I'm saving a hundred or so on insurance per year on the Prius over another vehicle. Then I figure in at least a $100 per year in lower maintenance costs over a standard car. Then there is the savings of around $100 per month in fuel costs. Add that up over 150,000 miles or 15 years, works out to about $21,000 with $3.00 gas in savings over a non hybrid. Then you have to add in the higher resale value vs a non hybrid if your selling the car in five years or less.
Based on the comments, the author has plenty on his plate. No need for seconds from this Prius advocate. <grins> Bob Wilson
