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Will the Plug In Prius Save You Any Money vs. the Regular Prius?

Discussion in 'Toyota Prius Plug-in' started by BentSpace, Sep 25, 2011.

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  1. BentSpace

    BentSpace New Member

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    I calculated that the 15 miles all electric will save you about a $1 in gas (at current prices here in socal), not consider the cost to charge it, by the way any one know how much it would cost to fully charge?

    Say you charge it once a day at home and go out once a day, so you can save $365 per year.

    With the Plug-In coming at a premium of $4675-$8480 over the regular Prius it would take about 13-23 years for your investment to pay off. So apparent the Plug-in is not really about saving money per se, am I wrong?
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  2. mitch672

    mitch672 Technology Geek

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    and, if you charge it twice per day? oh say at home, and in the parking garage you park at during the day at work. How about the environment and national security issues, lowering your carbon footprint, and using less foriegn oil? If those are worth nothing to you, perhaps you are in the wrong forum. Its not all about money, your never going to justify these cars on purely monetary savings.
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  3. F8L

    F8L Protecting Habitat & AG Lands

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    It depends. If you have a short commute then your payback period is shorter because a regular Prius does not get 49mpg when regularly driven short distances.

    It also depends on how much you assume is a premium over a regular Prius. The base plugin offers features that place it somewhere between a 3 and 4.

    For some this is not about economics. It's about reducing fossil fuel use and for others it's a novelty. Have you ever asked someone how long their payback period is for the extra HP in a larger engine choice or that Z71 package?
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  4. 2k1Toaster

    2k1Toaster HID Guru

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    This is where you are ideologically wrong. Very few cars are investments and those that are you don't squawk at a measly couple thousand dollars.

    Whatever you buy will deteriorate and die. The second those shiny tires hit city streets for the first time in your name, say goodbye to 20% of your "investment"...

    It has nothing to do with investment as already pointed out. The reduced fuel usage is what you pay for. Not because the reduced fuel usage costs marginally less to operate than a normal Prius.
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  5. BentSpace

    BentSpace New Member

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    I didn't mean to offend anyone. I'm all for saving the environment and all that good stuff. I was just surprised myself, as at first thought I was thinking it would be a huge money saver.

    I imagine at some point in the future it will actually be cheaper to run an EV than a gas vehicle. Any idea how far off that point is?
  6. F8L

    F8L Protecting Habitat & AG Lands

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    I don't think you offended anyone and I'll apologize if my reply came across negatively.

    EVs are less expensive to run than straight gassers or diesel. At least in most cases. The Leaf is a great example. Dave runs his Leaf at around $.03 a mile or so. His Prius is closer to $.07 or $.09 per mile depending on his mpg on a specific tank. The Leaf is also affordable if you can get the tax incentive.

    The plugins are a bit more confusing to figure out your cost per mile and they are very new so I expect things to get cheaper as production ramps up and more people adopt this new technology. :)
  7. Silver bullit

    Silver bullit Right Lane Cruiser

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    You didn't offend me. You just asked for some information. I thought that is what this forum is about. Yes you are in the right forum. Welcome, you have as much right as anyone else to be here. Don't let anyones comments scare you off.
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  8. cwerdna

    cwerdna Senior Member

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    Depends on where. Dave has the advantage in being in a state w/very cheap electricity (WA). It may not be cheaper to run on electricity than gassers in other states, including CA. I posted some links about this at http://priuschat.com/forums/toyota-...pg-plug-in-prius-seems-low-3.html#post1392911.

    I believe Dave is served by Puget Sound Energy which per http://pse.com/aboutpse/Rates/Pages...edule_x0020_Type=Rate and Adjusting Schedules says residential electricity is ~8.5 cents per kwh for the first 600 kwh and ~10.3 cents for everything beyond it (in addition to the "basic charge") vs. the one guy griping in CA that his marginal rate will be 30 cents/kwh if he adds an EV.

    Yep, on the using less foreign oil and national security.

    Besides the other examples of the engine, how about a sunroof or power seats or buying a BMW? What's the "payback" period on those? One can look at PHV as being another feature that helps w/using less foreign oil, much of which resides in volatile regions of the world and in places where they don't like us much.
  9. ggood

    ggood Blue PIP Aficionado

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    Since I moved closer to work and stopped taking a lot of long drives to see relatives or for vacations, my annual miles have dropped through the floor. In my case, having a PIP will be almost the same thing as having a an EV. But with such low miles, there's no way I'm getting significant direct cost savings from any car I drive, be it gas, ev, or phv. I should just drive an ES350 or Miata, or go buy 10 year old beater cars and invest the money I have tied up in 2 late model cars.

    However, the low maintenance and repair on hybrids and EVs does have some value to me, by saving me time, money and hassle. Also, despite my tiny impact on the universe, I very much like the idea of having cars that pollute as little as possible and decrease dependence on oil as much as possible. Plus, the tech in these cars is just so interesting that having them is almost like a hobby, which is probably one of the big reasons you see a lot of long-term Priuschatters.
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  10. coach81

    coach81 Active Member

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    Good question... I think if one could use the PIP for mainly short trips, and keep it for a very long time, I believe in the long run.. yes. Especially if a person would wait until after the initial roll-out, and Toyota starts making the PIP in "packages"...
  11. JimboPalmer

    JimboPalmer Nadir of Wrongness

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    I visit 3 to 4 clients a day, if charging was easy, I could get that 15 mile range several times a day.
  12. TheForce

    TheForce Ron Paul 2012

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  13. FL_Prius_Driver

    FL_Prius_Driver Senior Member

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    Deja vu. This was the same essential point about buying a Prius in 2001. It was pointed out to me that buying Prius did not make sense since the "premium" in cost would not be recovered. Ten years later, it's possible to point out the flaws in that approach.

    1) The price of Gas does not stay constant. It goes up, so the only difference here is how much it goes up vs. the price of electricity. The net result is the payoff is sooner than you think.

    2) The secondary benefits are always ignored. The lower pollution counts for something.

    3) So if the payoff is many years down the road, why is that considered a disadvantage? Doing the right thing and not being penalized financially is rather rare. Here is a rare situation that eliminates that penalty in time.

    4) Your actions have effects on other people. Getting a Plug In Vehicle will educate all those around you more effectively than any other action. Education is badly needed.

    5) Your actions have secondary effects on the auto manufacturers. In 2001, GM considered the Prius a fad. In 2011, GM is working hard not to fade away.

    6) Driving fuel efficient vehicles changes your lifestyle and thinking in other areas for the better.
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  14. BentSpace

    BentSpace New Member

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    Another thing that may make a Prius or Plug-In worth it financially is that you don't necessarily have to make back the premium in the time your driving it, as when you go to sell, you will be selling for more than the car you're comparing to not to mention, Prius's high resale value. So that's why according to Consumer Reports the Prius is actually a great value. If I remember correctly they rated it best value second only to the Honda Fit this year. Will be interesting to see how they rate the Plug-In on the value scale.
  15. BentSpace

    BentSpace New Member

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  16. BentSpace

    BentSpace New Member

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    Actually looks like it was at the top of the list in 2009.

    Prius tops Consumer Reports best value list

    So I'm sure a lot of people are buying Prii because they are a great value and save a lot of money in the long run, compared to buying a cheaper yet less reliable, worse gas mileage and higher depreciation car.
  17. oldasdust

    oldasdust Member

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    You can't get better than a prius of any configuration in my opinion ,when you take into account all cost factors. This still confounds most people who think technology is cost prohibitive. What is the total cost of any high end auto and only the Prius gets tagged with "How many years till you break even?" Wish i could afford an advanced phv Prius because that would piss of my friends even more who think i made a big mistake buying a Prius in the first place.
  18. inventor00

    inventor00 Orange County Prius Club

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    Actually in California it will save way more as it will get a new GREEN Carpool sticker for "Plug-In Hybrids" - your only other option for a carpool sticker, is an electric car (for a similiar price- only about 100 miles range) . So how much is your time worth???

    And of course only the first 40,000 can get them- good from Jan 1, 2012 until 2015.
  19. SageBrush

    SageBrush Senior Member

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    BentSpace,

    My calcs say EV savings will about equal the plug-in cost over the life of the car, IF similar packages are compared. You do not pollute less overall, but you send less money to OPEC.

    I call that an attractive consumer choice.
  20. radiocycle

    radiocycle Active Member

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    ...and when you choose to charge. With our Smart Meter program, coming soon statewide, we have the opportunity to lower the electricity demand during “peak†periods (the peak period for most utilities are summer afternoons) and charge at a lower rate thereby saving some dough on the monthly electric bill.
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