Forbes: Does Buying a Hybrid Make Sense?

Does buying a hybrid make sense? Sure it does, it's a heck of a lot cheaper than getting cancer from air pollution and having to pay exorbitant medical bills.

(not to mention the home owners deductible after your beach house floods from the rising sea level)
(or the medical bills you might have to pay when your kids get cancer from the compromised ozone layer, or the malaria from the mosquitoes after the tidal surge and the warmer climate)

 

I got a kick about how biased the author was. Sentences like "let's be generous and say the Prius gets 45mpg" and "the Corolla gets 28mpg minimum".

 

After awhile, you get use to particular names and become quite familiar with their stance on certain technologies.
.

 

Re: Hybrids: Does Buying a Forbes Make Sense?

The Prius is a midsize car, 116 ft {3}, and the Corolla a compact, 104 ft. {3}. So the first problem is comparing vehicles in different size groups. But we've seen this article before only it hasn't been updated to reflect reality. The real problem is Forbes itself ... the editors running an out of date, inaccurate article.

If I cared about Forbes as an accurate source, I would compose a letter and send it to the editor. But in this case, I have no investment in Forbes and the article hurts them more than hybrids.

Bob Wilson

 

Hi All,

The attitudes of buisnes blinkered guys like this, who refuse to take the big picture into accounting, is why the US really needs to have a national gas tax increase. And soon.

I wonder what Briant Gumbul would say about hybrid cars being worth-while?

 

"yes, it does"...

any other questions?


**edit**

said it all above, but these things have gone around about a 100 times and there is no real answer to the question UNTIL you sell the car.

what is resale on a 3 yr old Corolla with 30,000 miles verses a Pri with same specs??

toss that in there and THEN tell me what the payback is

ok... then i toss according to Kelley BB

http://www.kbb.com/KBB/UsedCars/Pri...94|false&Mileage=30000&PriceTypePath=Trade-In

for a vehicle in excellent condition


Corolla 4 dr DX verses a Prius package 4 no nav, no multi CD, no BT

trade in value
Corolla 10,025 Prius 14.400

suggested retail

14.170 verses 18.815

private party value

12.045 verses 16,465

that is for the 98513 zip code....


ok, so once AGAIN.... how long was that payback???

the answer;

depends on how long you have the car

 

Buying a hybrid doesn't make sense for just any hybrid. Some hybrids are no better than conventional vehicles when it comes to fuel consumption and the creation of exhaust pollutants.

However, it certainly DOES make sense for the Toyota Prius. With the exception of pure electrics, the Prius is not only the BEST vehicle BY FAR in regard to low fuel consumption, it is also the BEST regarding low pollutant output. In a couple of years when Plug-In capability becomes available on new Prius models, the Prius will be even better.

I hope that Toyota, or some other company, will eventually develop an affordable Plug-In conversion package for current Prius vehicles.

Jim

 

The author acknowledges up front why someone might buy a hybrid. His opening position seems even handed enough, a hybrid takes a very long time to break even if gas is "$3 a gallon" (where it has been for at least a year) even when resale and all costs have been accounted for. Are you guys contending that a hybrid is an economic no-brainer vs a comparable ICE car based on current conditions/assumptions? I've never been able to justify a Prius based on economics alone (why try?) - but I've tried it with a Camry vs Camry Hybrid or Fusion vs Fusion Hybrid.

Looked at another way. Assume 15K miles/year and $3/gal gas. A 50mpg car (Prius) will cost you $900/year for gas, a 30mpg car (many comparable choices) will cost $1500/year - so the hybrid will save $600/year. So it would take 5 years to pay for a $3K premium for a hybrid. There are certainly other factors, maintenance, insurance, resale value, etc. - but some work in favor of the hybrid and others do not. The economics for a hybrid are iffy. When I did the math between a loaded Fit and a Prius (the best choices for me), it took more than 10 years to break even. YMMV

 

MSRP

Prius PKG 4 = ~ $24k
Corolla DX = ~ $16K

Trade in from your calculation

Prius PKG 4 = $14.4K
Corolla DX = ~ $10K

Net lost

Prius PKG 4 = $24K - $14.4K = $9.6K
Corolla DX = $16K - $10K = $6K


You have to look at the total lost rather then just the trade in value disregarding the purchases price. You should hear about the hybrid premium.

 

As usual the comparison is bogus and the author is clearly spinning. I've driven a Corolla, I've driven a Prius. They aren't comparable. The Corolla is not a family sedan. Next...

When you get into this size range, automatic, typical family sedan, the Prius is appropriately priced. And it gets far better mileage. 45 mpg isn't "generous" and is in fact well to the low side.

The "hybrid premium" is largely a creation of the self deluded, like the previous two posters.