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over the long term, do i save money w/ something like a prius over something
- Thread starter John B
- Start date
Depends.
Quick answer - probably not.
If gas prices get high enough - yes. But gas prices will have to get REALLY high. I have not graphed it out, but fiesta should get 35 mpg.
Lets say it only gets 30.
The prius - 50.
Let's say you drive 10,000 miles a year.
It will cost you 200 gallons in the Prius.
333 gallons in the Fiesta or 133 gallons more.
I'm assuming your US - so ... this has to be redone if your UK or somewhere other than us. But the principals are the same.
So... at $4.00 a gallon (it's currently $2.65 here but if it doesn't save you more at $4.00 it really wont save any at lower prices).
that's about $532 a year more to drive the Fiesta.
Assuming all else is equal over 8 years (the average amount of time American's keep a car) You will spend about $4300 more to drive the Fiesta.
Do the same exercise but assume gas stays at $3.00 a gallon for 8 years (on average). and the cost is only about $3200 more to drive the Fiesta.
So... if you can buy a prius for somewhere between $3000-$4000 over the price of a Fiesta - then yes... you will save money.
Change ANY of these assumptions and you have to go and re-do the calculations.
If you drive more than 10,000 miles a year, sell the car before 8 years, gas costs more than $4.00 a gallon... re-do it and see.
No one knows what gas prices are gonna do, but I'll tell you one thing.
They are NOT going down. Over the next 10 years, it may never get much above $6.00 in this country, but rest assured - it's coming (hopefully we'll have enough electric cars to choose from by then that the price of gas will level off as demand drops).
If you trade your cars more frequently - get the Fiesta now -save the money and in a 3-5 year time frame - who knows how much better fuel economy will be.
If you keep your car a long time - the prius costs more now, but if there is a disaster like Katrina, or prices just rise faster than anyone can conceive - you will be ahead of the curve.
One thing is for sure - I agree 100% with the above post -
Buy a used car that gets good mileage and you'll save a TON of money. Gas would have to go to un-imaginable highs for a new prius to save someone money over a used $5000 Honda civic, or a used $5000 anything that gets 30 mpg (like a used Saturn SL1, Honda Civic, Chevy cobalt, Toyota carolla, etc etc etc.).
Quick answer - probably not.
If gas prices get high enough - yes. But gas prices will have to get REALLY high. I have not graphed it out, but fiesta should get 35 mpg.
Lets say it only gets 30.
The prius - 50.
Let's say you drive 10,000 miles a year.
It will cost you 200 gallons in the Prius.
333 gallons in the Fiesta or 133 gallons more.
I'm assuming your US - so ... this has to be redone if your UK or somewhere other than us. But the principals are the same.
So... at $4.00 a gallon (it's currently $2.65 here but if it doesn't save you more at $4.00 it really wont save any at lower prices).
that's about $532 a year more to drive the Fiesta.
Assuming all else is equal over 8 years (the average amount of time American's keep a car) You will spend about $4300 more to drive the Fiesta.
Do the same exercise but assume gas stays at $3.00 a gallon for 8 years (on average). and the cost is only about $3200 more to drive the Fiesta.
So... if you can buy a prius for somewhere between $3000-$4000 over the price of a Fiesta - then yes... you will save money.
Change ANY of these assumptions and you have to go and re-do the calculations.
If you drive more than 10,000 miles a year, sell the car before 8 years, gas costs more than $4.00 a gallon... re-do it and see.
No one knows what gas prices are gonna do, but I'll tell you one thing.
They are NOT going down. Over the next 10 years, it may never get much above $6.00 in this country, but rest assured - it's coming (hopefully we'll have enough electric cars to choose from by then that the price of gas will level off as demand drops).
If you trade your cars more frequently - get the Fiesta now -save the money and in a 3-5 year time frame - who knows how much better fuel economy will be.
If you keep your car a long time - the prius costs more now, but if there is a disaster like Katrina, or prices just rise faster than anyone can conceive - you will be ahead of the curve.
One thing is for sure - I agree 100% with the above post -
Buy a used car that gets good mileage and you'll save a TON of money. Gas would have to go to un-imaginable highs for a new prius to save someone money over a used $5000 Honda civic, or a used $5000 anything that gets 30 mpg (like a used Saturn SL1, Honda Civic, Chevy cobalt, Toyota carolla, etc etc etc.).
Depends.
Quick answer - probably not.
If gas prices get high enough - yes. But gas prices will have to get REALLY high. I have not graphed it out, but fiesta should get 35 mpg.
Lets say it only gets 30.
The prius - 50.
Let's say you drive 10,000 miles a year.
It will cost you 200 gallons in the Prius.
333 gallons in the Fiesta or 133 gallons more.
I'm assuming your US - so ... this has to be redone if your UK or somewhere other than us. But the principals are the same.
So... at $4.00 a gallon (it's currently $2.65 here but if it doesn't save you more at $4.00 it really wont save any at lower prices).
that's about $532 a year more to drive the Fiesta.
Assuming all else is equal over 8 years (the average amount of time American's keep a car) You will spend about $4300 more to drive the Fiesta.
Do the same exercise but assume gas stays at $3.00 a gallon for 8 years (on average). and the cost is only about $3200 more to drive the Fiesta.
So... if you can buy a prius for somewhere between $3000-$4000 over the price of a Fiesta - then yes... you will save money.
Change ANY of these assumptions and you have to go and re-do the calculations.
If you drive more than 10,000 miles a year, sell the car before 8 years, gas costs more than $4.00 a gallon... re-do it and see.
No one knows what gas prices are gonna do, but I'll tell you one thing.
They are NOT going down. Over the next 10 years, it may never get much above $6.00 in this country, but rest assured - it's coming (hopefully we'll have enough electric cars to choose from by then that the price of gas will level off as demand drops).
If you trade your cars more frequently - get the Fiesta now -save the money and in a 3-5 year time frame - who knows how much better fuel economy will be.
If you keep your car a long time - the prius costs more now, but if there is a disaster like Katrina, or prices just rise faster than anyone can conceive - you will be ahead of the curve.
One thing is for sure - I agree 100% with the above post -
Buy a used car that gets good mileage and you'll save a TON of money. Gas would have to go to un-imaginable highs for a new prius to save someone money over a used $5000 Honda civic, or a used $5000 anything that gets 30 mpg (like a used Saturn SL1, Honda Civic, Chevy cobalt, Toyota carolla, etc etc etc.).
Quick answer - probably not.
If gas prices get high enough - yes. But gas prices will have to get REALLY high. I have not graphed it out, but fiesta should get 35 mpg.
Lets say it only gets 30.
The prius - 50.
Let's say you drive 10,000 miles a year.
It will cost you 200 gallons in the Prius.
333 gallons in the Fiesta or 133 gallons more.
I'm assuming your US - so ... this has to be redone if your UK or somewhere other than us. But the principals are the same.
So... at $4.00 a gallon (it's currently $2.65 here but if it doesn't save you more at $4.00 it really wont save any at lower prices).
that's about $532 a year more to drive the Fiesta.
Assuming all else is equal over 8 years (the average amount of time American's keep a car) You will spend about $4300 more to drive the Fiesta.
Do the same exercise but assume gas stays at $3.00 a gallon for 8 years (on average). and the cost is only about $3200 more to drive the Fiesta.
So... if you can buy a prius for somewhere between $3000-$4000 over the price of a Fiesta - then yes... you will save money.
Change ANY of these assumptions and you have to go and re-do the calculations.
If you drive more than 10,000 miles a year, sell the car before 8 years, gas costs more than $4.00 a gallon... re-do it and see.
No one knows what gas prices are gonna do, but I'll tell you one thing.
They are NOT going down. Over the next 10 years, it may never get much above $6.00 in this country, but rest assured - it's coming (hopefully we'll have enough electric cars to choose from by then that the price of gas will level off as demand drops).
If you trade your cars more frequently - get the Fiesta now -save the money and in a 3-5 year time frame - who knows how much better fuel economy will be.
If you keep your car a long time - the prius costs more now, but if there is a disaster like Katrina, or prices just rise faster than anyone can conceive - you will be ahead of the curve.
One thing is for sure - I agree 100% with the above post -
Buy a used car that gets good mileage and you'll save a TON of money. Gas would have to go to un-imaginable highs for a new prius to save someone money over a used $5000 Honda civic, or a used $5000 anything that gets 30 mpg (like a used Saturn SL1, Honda Civic, Chevy cobalt, Toyota carolla, etc etc etc.).
Well, sit down and do the math then.
Calculate, yearly, how much fuel you save.
Multiply that by cost, and you find out how much you save.
Then subtract that from how much extra it cost to buy the hybrid.
That will tell you how many years it will take to pay off the hybrid.
I've done this a few times, and it generally ends up being around 6-7 years of driving, before you actually save any money.
Get a Honda CRX. Gets better gas mileage than both, and is far cheaper than both. Seriously. How can you argue with a $3,000 price tag, and 60mpg?
Calculate, yearly, how much fuel you save.
Multiply that by cost, and you find out how much you save.
Then subtract that from how much extra it cost to buy the hybrid.
That will tell you how many years it will take to pay off the hybrid.
I've done this a few times, and it generally ends up being around 6-7 years of driving, before you actually save any money.
Get a Honda CRX. Gets better gas mileage than both, and is far cheaper than both. Seriously. How can you argue with a $3,000 price tag, and 60mpg?
Well, sit down and do the math then.
Calculate, yearly, how much fuel you save.
Multiply that by cost, and you find out how much you save.
Then subtract that from how much extra it cost to buy the hybrid.
That will tell you how many years it will take to pay off the hybrid.
I've done this a few times, and it generally ends up being around 6-7 years of driving, before you actually save any money.
Get a Honda CRX. Gets better gas mileage than both, and is far cheaper than both. Seriously. How can you argue with a $3,000 price tag, and 60mpg?
Calculate, yearly, how much fuel you save.
Multiply that by cost, and you find out how much you save.
Then subtract that from how much extra it cost to buy the hybrid.
That will tell you how many years it will take to pay off the hybrid.
I've done this a few times, and it generally ends up being around 6-7 years of driving, before you actually save any money.
Get a Honda CRX. Gets better gas mileage than both, and is far cheaper than both. Seriously. How can you argue with a $3,000 price tag, and 60mpg?
Well, sit down and do the math then.
Calculate, yearly, how much fuel you save.
Multiply that by cost, and you find out how much you save.
Then subtract that from how much extra it cost to buy the hybrid.
That will tell you how many years it will take to pay off the hybrid.
I've done this a few times, and it generally ends up being around 6-7 years of driving, before you actually save any money.
Get a Honda CRX. Gets better gas mileage than both, and is far cheaper than both. Seriously. How can you argue with a $3,000 price tag, and 60mpg?
Calculate, yearly, how much fuel you save.
Multiply that by cost, and you find out how much you save.
Then subtract that from how much extra it cost to buy the hybrid.
That will tell you how many years it will take to pay off the hybrid.
I've done this a few times, and it generally ends up being around 6-7 years of driving, before you actually save any money.
Get a Honda CRX. Gets better gas mileage than both, and is far cheaper than both. Seriously. How can you argue with a $3,000 price tag, and 60mpg?