Quote:
Originally Posted by Matt Herring
Stevey...
I've had my Prius for a little over 3 months now and I can only tell you what I know and have learned...
1. If you are buying a Prius to "save money" there are alot of other options out there that will do a better job in this regard (if you are comparing fuel savings and loan costs vs. your Cobalt and/or other cars). Do I save money on fuel with my Prius...you bet...I was driving a 4runner prior to getting it and I've tripled my mpg with the new buggy (20 mpg to 60 mpg). For me, this means saving around $1500-1750 a year in gas. My current Prius loan is close to my former 4runner loan so the switch made sense for me. My gas savings in my Prius are "pure profit" compared to driving my 4runner.
2. If you anticipate over 80% of your driving to be on the highway I would not recommend a Prius. While you will get great mpg's in the Prius on the highway...as much as 55-58 mpg...you are not going to save that much vs. your Cobalt or another similar mpg vehicle over the life of a loan (5-6 years). You look like you already did the math on what mpg you get and what you would get in the Prius so it seems the "savings" would not be that much to justify getting one. Would it be fun to get 50, 55 or 60 mpg in the Prius...yes, it's a blast...but a $5-8k loan is also more appealing than a $12-15k loan over 5-6 years.
3. If you are considering a used vehicle I would recommend something that gets "good" mpg's but doesn't set your loan amount too high. Basically, you are sacrificing a little mpg to save alot on a loan...over time you end up saving more money on the loan that you would on gas in the Prius (taking into account what mpg you are already getting in your Cobalt).
Just my 2 cents...but I would look at a mid-priced vehicle that you can mod to get around what you're getting in your Cobalt. If you're saving $200-250 a month on the loan but only giving up $100-150 a month on gas you win.
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The prius is less of a economical decision, and more of an ecomodical decision. The savings vs my cobalt would be minimal i think. But i'd be able to throw down some amazing numbers. Keep in mind this is hypothetical, as i fully intend to keep my cobalt for another 400k kms.
I've also been looking into the 1st gen insight as well. And also the Civic hybrid. They both do just as well on the highway, and offer improvements in the city. There are also a lot more civic hybrids around i think.