Looking to buy a prius based soley on economics

I'm pretty much in the same situation you are but I have done some research. Right now you'd be hard pressed to find a dealer selling much below MSRP. I'm waiting until either the market eventually settles down or the 2009 models come out. Good Luck.

 

Greetings and welcome to PriusChat!

I have to agree with you and wonder exactly what makes sense in your post, but I'll give a shot at an answer!

I don't know how you'll make your decision based "solely on economics."

If you like the car and don't care about other issues, and you can afford to buy it, then it doesn't appear your economics equate to mine.

If the Prius were to be your primary car, and you would need a secondary car only occasionally (twice a month or so), then I suggest you consider selling the Explorer so as not to worry about continuing depreciation, maintenance and insurance on that car. Instead, you could just call Enterprise and rent one when you need it. That way you'd have a new car every time, and some one else would worry about all the other economics of the second car.

Are my responses anywhere close to your questions?

 

I'm in the same boat as you. My decision to buy a Prius was purely economic. I drive between 25,000-35,000 miles per year and for the past 25 years used either a Cadillac or Town Car. The Caddie cost me $88.00 a week in gas whereas the Prius cost me $25.00 per week. The higher the gas price the more I save.
I paid $25,000 for a 07' #2 and got the $800.00 federal tax credit. Between the fact that the Prius is half the price of the Caddie and I'm saving approx. $3,300.00 a year on gas in which I typically keep a car till 125,000-150000 miles, the Prius is a win-win situation for me. I still keep the Caddie for "vip" clients, but I like the Prius better than the Caddie and with all the aftermarket parts available, I've made the Prius almost as nice as the Caddie interior.
With the way energy costs are going its hard to imagine the Prius being a bad economic decision right now.

 

well, if your decision is purely economical you'd be looking at a 5 year old civic.

if you're wondering whether it's worth it on your monthly bills to buy the prius vs keeping the explorer (assuming it's paid for)...

we need to know how much you drive. the average is about 1000 mi/month.
1000 mi @ 17 mpg (optimistic) is 58.8 gal of gas
1000 mi @ 40 mpg (pessimistic) is 25 gal of gas
at $3.79/gal (here) that's $128/mo saved on gas.
using the pessimistic numbers for the explorer and more optimistic about the prius mpg, that's closer to $200/mo.

you may or may not have collision and comprehensive insurance on the ford. if not, and you finance your prius, you'll be cutting into your monthly $ savings because your loan will require you to have this insurance.

the prius gains on maintenance, especially since you have an older ford. i will bite my tongue on how i feel about ford.

then there's the whole car payment issue. car payments suck, and it usually costs several extra car payments in finance charges to have a car loan. if you're cool with that, then it's not particularly economical but car payments are pretty much the norm.

so your decision is not purely economical. you found a car *you like* that gets a lot better mpg than what you've got now. that element of liking the car goes pretty far.

 

It doesnt really matter what your reason for buying the Prius is. A side benefit is that it is helpful to the environment. It also helps that is gets 50mpg plus. It also helps that it is so darn reliable for so many miles. It also helps that the value of the car seems to not fade much at all over the years compared to other cars.

Its a good decision whatever your thinking!

 

Test drive the Nissan Sentra. Highway it gets on flats 36mpg.

It's at least 8K less than the prius. (granted the prius is a much better car, but purely for a non fun just get to work car, i think the sentra is a good buy)




--

 

Buy a Prius, you won't lose.

 

Hi Zhackwyatt

I also own a Ford Explorer. Based on my experience 14 - 15 mpg is about what I was getting when I drove it back and forth to work. I bought a Prius last year. My mileage on the same commute is 48 -50 mpg.

The Explorer is great for towing a trailer, hauling stuff from Home Depot (although I have carried 8 ft long lumber in the Prius) and driving through snowstorms. The remainder of the time it serves as a driveway ornament.

 

Welcome.
I was in your position last year. Should I or shouldn't I? I should have. Don't wait like I did. Go for it. Look at all of the posts here, these people really love their Prii! Show me one message board like this for a Ford Explorer.

 

As others have pointed out, if you just want the cheapest commuter car, you're better off finding a low-milage used Civic or Corolla and buying it.

If you want certain creature comforts, then it's no longer a "solely economic" decision, is it?

I did a brain dump on a related question here:
http://priuschat.com/forums/newbie-forum/47329-msrp-prius-still-worth.html#post616981

The general point is that you have to list all the options that are acceptable to you; analyze each for the benefits and costs; weigh each of those factors according to how *you* perceive them; then determine which is the best fit.

I am still in love with my Prius, although I've had it 3 years; the fact that it's still the lowest-emissions, highest-MPG car available, has incredible flexibility for cargo, has great geek toys, and very low maintenance costs (55k miles and still on original brakes!)... I feel it was a no-brainer -- but I didn't have the option of keeping my old car, and I had the disposible income to get a new car.

Your constraints and priorities might be very different.

I will echo others on this thread that most of us have very positive experiences with the Prius, and we hope you have just as much fun with yours (if you choose to buy one).

 

Ford Explorer Ranger Enthusiasts Serious Explorations

Actually I still like my Explorer except for one thing - the horrific gas mileage.

I kept it because the resale value is almost zero and it can be very handy when I actually need it.

But I like everything about the Prius too and it gets great mileage.

 

I googled before I made that remark and I did not count that site as being all about one vehicle, like PC. This was the description of the forum site and my reason for discounting it:
Ford Explorer, Sport Trac, Mercury Mountaineer, Ford Ranger Enthusiast Forum

I could be wrong, but that seems to me to be a multi-vehicle forum. I love that PC is all about the Prius. Even though there is an area for people to discuss other cars, it is a site dedicated to one certain car.

 

Its primarily a Ford Explorer forum, most of the members have Explorers, but they have sections for other vehicles too, just like PC has sections for TCH and HyHy, etc.

The Explorer board was originally started by some guys who liked to modify their vehicles for off-road but it has expanded to include street vehicles, lowered vehicles, vehicle repair, etc. Its an old forum, I've been posting there since 2002.

 

Does it have a big section about repairing roll over damage?

 

Solely on economics:

1. Judicious use of used cars, driving them as long as possible is always the cheapest route. CarTalk.com has some calculators to do the math if you want.

2. Total cost of ownership, starting with a new car, as calculated by Consumer Reports: Prius is the cheapest thing you can own over the life of the car.

3. Priism can be addicting. I have spent far more on this toy than I am ever going to recoup on gas savings. But that's me. You have been forewarned.

 

4x4 Flips Down Mountainside Video


Rollover posse Application - Ford Explorer Ranger Enthusiasts Serious Explorations


Actually, they aren't any more likely to flip than any other SUV, no matter what the reputation. Most of them die from transmission failure.

 

:spit:

... Brad