For the heck of it I did some calculations earlier today. These were my results. I have now driven exactly 15,000 miles since I purchased the car just about 1 year ago. My effective gas milage during this time has been on average 42 - 44 mpg. so 15,000 / 42 = 357 gallons used to date. 357 gallons * $2.50 = $892.85 I'll assume that my old car effectively got 15 mpg. (This is probably generous since I live in the Northeast and it sometimes gets very cold around here) so 15,000 / 15 = 1,000 gallons that I would have used had I not traded in my car or 1,000 gallons * $2.50 = $2,500. So, in the past year I have saved $2,500 - $892.85 = $1,607.15 in gas. Not bad...
Very nice... I'm feeling that, because I put a little over 27k on my Saturn Vue in just under 14 months of ownership, at a verified 20-21mpg. I've put 2300 miles on the Prius (48.5 mpg) in a month and a half (actually driving LESS since buying the more fuel efficient car... take THAT, naysayers), so I've already saved about 70 gallons of gas, and therefore close to $200! Woo hoo!
I try not to compare my old toyota 4runner (~15mpg like your old car) to the prius, instead to the Matrix I was considering vs prius.. Prius ~ $4k premium over the Matrix 50mpg prius 15000mi @ $2.5/gal= $750 30mpg Matrix 15000mi @ $2.5/gal = $1250 so i'll save $500 in gas a year and the premium is paid off in 8 yrs (or 120,000 miles) this doesnt include the tax deduction or the satisfaction i feel driving- If I'd compare to the 4Runner I'd have to add savings for repairs too: it was 14yrs and starting to show some age.
oh well dont forget according to most car "experts" it can take several years (as much as 10)to recoup that hybrid premium that must mean you paid a $16,000 premium right?
Cool! I just put in my first tank of gas - and was doing the happy dance that at $2.21 per gallon I only spent $15.95!! Under $20 - whoo wee !! Average for my first 307 miles - 42 - interesting comment moneytrain8 about actually driving less - it's only been 4 days, but I'm also thinking about conserving/grouping trips together!
Ok, lets assume that we compare a Matrix which costs $4,000 less to a Prius. Now suppose we traded both cars in for an '07 model in 2 years. The next question we would then have to be is what is the depreciation factor for the 2 models. On average most cars depreciate by about 15% per year but lets be generous. Matrix cost = $17,000 to purchase 2 years depreciation = $3,400 (assume only 20% for 2 years) so the value at sale should be $17,000 - $3,400 = $13,600 Prius cost = $21,000 to purchase Gas savings for 2 years = $1,000 2 years depreciation = $4,200 $21,000 + 1,000 - $4,200 = $17,800 The total loss in sale assuming this is $3,200 so your $200 better off for having owned the Prius. That said, the Prius resale value is actually much higher. Prius cost = $21,000 to purchase Gas savings for 2 years = $1,000 Assume 2 years depreciation for Prius = $2,000 ($500 for yr 1 and $1,500 for yr 2) $21,000 + 1,000 - $2,000 = $20,000. Actual loss on sale = $1,000 Even without the tax credit it seems to me that your still much better off owning the Prius. This is what I don't think MSNBC and the rest of them get.
Well, I think "$21,000 to purchase" might be a little misleading. I bought a 05 #2, and it was close to $25k after taxes, tags, etc. Has anyone here gotten an '05 Prius for $21k out the door? And I only used the Vue as comparison because if I didn't own the Prius, I'd still own the Vue. Finally, I'm not driving less on purpose. I'm guessing with the approaching holidays, I'll be driving more (family visits, shopping trips, etc), which will make up for my current "lack" of mileage. I reckon my real point is that, unlike what I have heard people say about driving more when you get better mileage, I don't plan on driving any more (or less) than I would if I had my 20mpg Vue. People at some forums I peruse seem to think that just because you will get 50 mpg, you'll suddenly start taking long road trips, or immediately move to a house that is 85 miles from work, just because of the better fuel economy. I'm not going to stop taking trips to DC to see a show, or travel to PA to see family, but I'm not going to start going to each every weekend just because I get better mileage. Poor generalizations...
Well, I have exact summations of the amount of money I spent on gas since 2002 because it's all in MS Money. so: 2002: $1248.59 (Honda HX) nice local commuting 2003: $1791.18 (Honda HX) started my new job w/ 50 mile commute in March; I can cross-check the actual mileage later of ~30K mi 2004: $1650.86 (Honda HX); ~30K mi 2005: $1560.53 (Prius since Feb, and it's Oct now) ~22K mi now So any significant savings I would've had with the Prius has been eaten up by the gas price increases.
So, I have a hole in my current spreadsheet for between '98 to 2002 due to massive data loss from the palmpilot (still got the receipts though and some leftover data), so I'll start with 2003. 2003: drove 30851mi so $/mi was $0.0580/mi for 785.2 gals @ ~$2.281/gal ~39.2MPG 2004: drove 27170mi so $/mi was $0.0607/mi for 785.7 gals @ ~$2.101/gal ~34MPG 2005: drove 21667mi for $1198.34 so $/mi was $0.0553/mi for 483.3 gals @ ~$2.479/gal ~44.8MPG If I drove the Civic for same amount as 2005 for 21667mi, it would've probably been $0.06 * 21667mi for $1300.02. Maybe I saved $101.68 in 8 months. What I did save, however, is $10K in still needed repairs to the Civic, a whole lot better ride (except for the suspension), and a lot of tanks of gas. My two bits.
