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Posted by Just Me on January 16, 2008, 8:36 pm
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>
>> OK, I'm sure somebody has already done the math. What would the
>> difference
>> between buying a 2008 Corolla with, let's say, 30 mpg for $14,000 or a
>> Prius
>> that gets, let's say, 45 mpg but costs $24,000? Would it ever be more
>> cost
>> effective to buy the Prius? Please tell me yes and in a short time
>> because
>> I really like the Prius.
>
> It depends a lot on the price of gas and how much you drive, as well as
> your driving habits (highway, urban, or combination). In my area, gas
> costs around $3/gallon now. I bought my 2008 Prius less than a week ago.
> I am going on the assumption that the price of gas will steadily
> increase over the life of my Prius. Gas now is around 60 cents more per
> gallon than it was a year ago. One year ago, gas was also around 60
> cents more per gallon than it was the previous year. I am no expert, but
> it seems to me that the price of gas is going up roughly sixty cents a
> year, so in two years from now, gas will be well over $4.00 on average
> in the USA.
>
> Consumer Reports answered your question last year (I think). CR said the
> cut off point is around $4.50/gallon for when the Prius becomes cost
> effective. Also, having just shopped the Prius, I can tell you that you
> can get one for less than $24,000. The car I am driving has package #2
> and it cost me $22,000 although the taxes and tags brought it up to
> $24,170. If you buy a base Pruis, its still as economical as the other
> Prius models and you can save at least $2,000, which is certainly still
> more than a Corolla.
>
> I figure that my Prius will last me at least ten years, but probably
> longer. Out of that ten years, at least seven of those years will be
> during a period where the price of gas exceeds that $4.50/gallon cut off
> point. The future price of gas is a big reason why I bought my Prius;
> however, the main reason was that its environmentally friendly.
> Regardless of the gas price and cost-effectiveness, the Prius (and other
> hybrids) spew less pollution than regular fueled vehicles, which is
> important to me, and should be to anyone else who has grown addicted to
> breathing.
Excellent points made by all. Of course now my big problem is selling my
truck for as much as possible so that I can parlay as much as possible
towards the down payment. I've also been juggling my options of a new '08
or a used one with as low of miles as possible. The price difference isn't
all that different between the used '06 and new '08. Even the '05's I've
seen tend to be around $19K. I know that Toyota covers the batteries, etc.
for 100K miles. Is there much experience for mileages of even double that
amount? I'm completely sold on the Prius for all of the obvious reasons
plus I just like it! Thanks to all and wish me luck on selling my truck.
It will be nice to go from 14.5 mpg to 45+ mpg. ;-)
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