My wife has been wanting a car for a while now but hasn't been able to decide what she wants. One of her friends has a Prius V. She rode in it and fell in love with it and the 45MPG. So I sat down with a pencil and paper to figure out if it was really worth paying 32,000 dollars for a Prius. She told me that the gas savings would pay the payment.
She did not believe the results of my study. Basic assumptions. Of course the more you drove the Prius would come out ahead as the gas savings would start to play a bigger factor, but I chose the accepted average of 15,000 a year. And she would not even hit 15,000. Probably 5 to 8.
Rough Cost for a Prius V with good option package. 32,000
Rough Cost for Camary SE with a good option package. 25,000
Gas 3.50 a gallon.
Prius Break down
Payment 575 a month 60 months @ 3%
yearly operating cost to drive 15,000 miles a year at 3.50 per gallon of gas and 45MPG
1166 spent on gas, 6900 in payments. Total spent 8066 dollars.
Camary SE 4 cylinder breakdown
payment 449 a Month 60 months @ 3%.
yearly operating cost to drive 15,000 miles a year at 3.50 per gallon of gas and 30MPG
1750 spent on gas, 5388 in payments. Total cost 7138 dollars
Over the course of the 5 year loan?
40,330 to drive prius 75,000 miles
35,690 to drive camry 75,000 miles.
Edited by toomanytoys84, August 28, 2014 - 07:04 AM.