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Looking to buy a prius based soley on economics

Discussion in 'Gen 2 Prius Main Forum' started by zhackwyatt, May 16, 2008.

  1. Bohous

    Bohous New Member

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    I know we all love our Prius and would encourage almost anybody to buy one but I am happy to see somebody making the argument. For us we needed a hatchback as well as a little extra backseat space for child car seats, otherwise I would have been plenty content to keep our Matrix. However, we purchased used and took advantage of a special 4.99% "hybrid rate" from our bank so from an economic standpoint regarding the actual cost of the car it was a really a lateral move, thus worth it.
     
  2. SgtTurtle

    SgtTurtle Junior Member

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    I also live in the Phoenix area and recently got rid of a Nissan Armada 4x4 for a Prius. I feel like I lost 2,500 pounds! A big reason was economic (I drive 2000 to 3000 miles per month), but I also believe that the US dependence on foreign oil is THE biggest threat to national security. I also was tired of possibly contributing to climate change and pollution. The blue HOV plate cuts my drive times in 1/2 and eliminates a lot of frustration during rush hour. Also the air conditioning in the Prius is GREAT.

    I bought my Prius for a few hundred over invoice at the end of March. It is an 2008 Touring with Package #6. I had no problem getting a good price on the Prius, but getting rid of the Armada was difficult. I am an attorney and a tough negotiator and I was working over the phone playing 3 different fleet departments against each other. They just could not get me enough for the Armada.

    I finally ended up going with an auto broker who was recommended to me named Tracy Weaver. She works out of a dealership in Casa Grande, but she got me a great deal on the Prius (I think $200 over invoice) and $2,000 more than anyone else would give me on the Armada. I handled everything over the phone, fax, and email including financing and she delivered the car directly to me. This was definitely the easiest way to go. The only downside was that I had to wait about a week for the car to come in.

    If you or anyone else, wants her contact number, let me know and will provide it to you.

    P.S. Before the Armada, I had a 1999 Ford Explorer 4x4. I used to post on the Explorer Forum all the time.
     
  3. zhackwyatt

    zhackwyatt Junior Member

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    That is exactly the car I was looking at. I'm not interested in Trading in the Explorer. What's the name of the dealership? Do they have a website or something? Appreciate the info.

    Actually everyone has been very helpful on this site.
     
  4. zhackwyatt

    zhackwyatt Junior Member

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    Those are practically the same vehicle actually.
     
  5. dogfriend

    dogfriend Human - Animal Hybrid

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    Yep. Explorer and Mountaineer are the same vehicle except for trim pieces. The Explorer Sport Trac is a 4 door SUV with a small pickup bed that uses the same powertrain as the Explorer.

    The Ranger is a pickup, but the original Explorer was based on the Ranger. They share a lot of common parts such as the dash, 4.0L engine, and other misc parts. The Bronco II, which was the predecessor to the Explorer is even more Ranger like.
     
  6. lefat1

    lefat1 Fat Member

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    i was in a similar situation, only it was 12 months ago, after all kinds of bs from dealers and the demand wasnt as high last year, i waited til september to put on the real search, and got an 08 in november, still difficult cause i wanted a touring package 6, but one day it was just there at the dealer and i happened to be a very agressive buyer and beat the rush
     
  7. richard schumacher

    richard schumacher shortbus driver

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    How do you know you need a new car? If you're going to keep the old one that pretty much means that you don't need a new one.

    And buying any new car is guaranteed to be *not* the least expensive solution. Depending mostly on how much you drive, the least expensive solution is either to keep the old gashog until it falls apart, or get rid of it and buy a used Civic or a Kia or the like.
     
  8. zhackwyatt

    zhackwyatt Junior Member

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    I know I need a new one because I just spent 1500 bucks to get the A/C fixed. So it is obviously missing its age. Other than that there really isn't anything wrong with it. Its paying 70 dollars to fill it up constantly that is killing me. I'm moving from a city of pop 60,000 to Phoenix, which has even worse Stop&Go traffic. So I guess it depends that when gas prices climb more. The savings in gas & maintenance from my Explorer will more than pay for the Prius. Right? At 28K? With hardly driving the Explorer, reduced Insurance coverage, I don't think it will cost that much to keep it. I just hate to get rid of it, it has been a good car and its cargo capacity has come in handy. It's worth about 5K and hard to seel w/ the increasing Gas Prices.
     
  9. dogfriend

    dogfriend Human - Animal Hybrid

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    One way to look at it is to use the right tool for the right job:

    I decided to keep the Explorer, I can use it when the weather is bad (4wd) or if I need to tow or haul something. But I don't commute to work in it, and will save on gas, wearing out those big tires, etc. So the cost is registration, insurance (just liability because its not worth much) and maintenance.

    For my commuting and just driving around on weekends, I use the Prius. I am making payments but that is partially offset by gas savings. It is faster than the Explorer, holds almost as much stuff, is easier to park and gets >3x the mileage.
     
  10. DVDTracker

    DVDTracker New Member

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    I've been crunching a lot of numbers over the past couple weeks, comparing my 2001 Tundra to new and used cars, playing with the cost of gas, purchase price of the vehicle, interest rate on the loan, etc.

    [​IMG]

    (The Prius MPG is from a friend's real-world stats. Everything else is from KBB's city MPG for the model.)

    Based on pure economics at $4/gallon, it would be cheaper over the next four years to keep driving my Tundra SR5. It's 7yrs old with 78k miles. Even with a major repair, which isn't likely, it would still be cheaper.

    Now if gas hits $6/gallon, it's a whole new ballgame, so I'm still looking at getting a Prius, or a Camry if they're a lot more comfortable. I'm 6'5" and test drove my friend's 2004 Prius (since no dealers in Austin have any to test drive) and it was a bit of a tight fit, but acceptable.

    Another reason I'm looking for something new is that the Tundra is still in good shape and I can get a decent price for it today. A few years down the road, I may not be able to. It's been a great truck but I'd like something with a trunk that could comfortably seat more than two people.

    Toyota is also running a 0% APR for three years on the Camry which is another reason I'm leaning towards it vs a Prius.
     
  11. zhackwyatt

    zhackwyatt Junior Member

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    Well, thanks guys for all the help, but I'm not sure I'm going to be getting a Prius anymore. Found out at my new job that I get corporate discounts (around 8K) but only on Domestic brands. Anybody have any suggestions?
     
  12. ranchogirl

    ranchogirl New Member

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    Ford Escape Hybrid? Saturn Vue Green? Volt?
     
  13. Bohous

    Bohous New Member

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    Hey did you call Click and Clack this weekend? There was a caller this weekend with the same question. They recommended the Ford Focus, Chevy Malibu or Pontiac Vibe which is essentially a domestically built Toyota Matrix but would qualify under your program.
     
  14. zhackwyatt

    zhackwyatt Junior Member

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    No I didn't, but thanks for the info. I have a friend who lives in another state who just bought the Vibe. I'm going to have to visit him sometime and take a look at it.
     
  15. Stefx

    Stefx Member

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    Funny that you can't buy a "made in US" Prius but you can buy a US-brand car made in a foreign country.
     
  16. dogfriend

    dogfriend Human - Animal Hybrid

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    My GF has a Toyota Avalon that was assembled in Georgetown, KY. Is it a foreign car or a domestic car? :madgrin:
     
  17. zhackwyatt

    zhackwyatt Junior Member

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    Actually I'm kind of excited about the Volt. With the Prius plug-in coming and the Volt coming, I might want to squeak a few more years out of my Explorer. Sounds like that the Auto Manufacturer's are turning to a new paradigm. (Or being forced into it.)
     
  18. Bohous

    Bohous New Member

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    I don't believe any Prius are built domestically but I'm sure I will be corrected if wrong. Also interesting to know if Mexican built GM cars would qualify. Typically the reason companies give the incentives is to support union labor but I suppose it's easier to justify if it's an "American" car.
     
  19. miscrms

    miscrms Plug Envious Member

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    Thats a tough one. The US automakers are not real competitive in this segment IMHO. For example, CR recently tested small sedans and the best ranked Big3 car came in 12th :rolleyes:

    CR Rating: ---- *=Recommended, X = Quick Pick
    Hyundai Elantra SE ------ 82 * X
    Honda Civic EX (MT)------ 80 * X
    Toyota Prius Touring ---- 80 * X
    Mazda 3i (MT)------------ 78 * X
    Honda Civic EX ---------- 78 *
    Honda Fit Sport (MT) ---- 75 * X
    Mazda 3i ---------------- 72 * X
    Honda Civic Hybrid ------ 72 * X
    Subaru Imprezza 2.5i ---- 72 * XX
    Toyota Corolla LE ------- 71
    Hyundai Elantra GLS ----- 70 * X
    Toyota Prius (base) ----- 68 * X
    Ford Focus SES ---------- 65 *
    Nissan Versa Hatch SL --- 65 * X
    Honda Fit (base) -------- 65 * X
    Kia Rio LX -------------- 64
    Mitsubishi Lancer ES ---- 62
    Kia Spectra EX (MT) ----- 62 *
    Hyundai Accent GLS ------ 62
    Nissan Sentra 2.0 S ----- 60 *
    Scion xD ---------------- 60
    Kia Spectra EX ---------- 57
    Kia Rio5 SX (MT) -------- 63
    Nissan Versa Hatch S (MT) 53
    Hyundai Accent htb GS(MT) 52
    Toyota Yaris (base) ----- 50
    Chevy Cobalt LT --------- 50
    Suzuki Forenza (base, MT) 39
    Suzuki Forenza (base) --- 36
    Toyota Yaris htb (bs, MT) 36
    Chevy Aveo LT ----------- 36

    CRs owner satisfaction report also came out recently, here's some results:
    Toyota Prius --------- 92
    Toyota Camry Hybrid -- 87
    Honda Fit ------------ 81
    Saturn Aura ---------- 81
    VW Rabbit ------------ 80
    Mini Cooper (base) --- 80
    Honda Civic Hybrid --- 79
    Honda Accord --------- 79
    Scion xB ------------- 78
    Honda Civic ---------- 77
    Toyota Camry --------- 76
    Toyota Corolla ------- 75
    Nissan Versa Hatch --- 69
    Toyota Yaris Hatch --- 69
    Ford Fusion 4cyl ----- 69
    Chevy HHR ------------ 64
    PT Cruiser ----------- 61
    Ford Focus Sedan ----- 55
    Dodge Caliber -------- 52
    Chevy Cobalt --------- 48
    Saturn Ion ----------- 47
    Chevy Aveo ----------- 44


    I'd say the Pontiac Vibe is worth looking at. Its CR rating is 72, and at 29mpg its about as good as any US car. The Focus is also maybe worth while. I'd stay away from the Cobalt and Aveo personally. The Malibu/Aura seem pretty decent, but the FE is not great particularly for the size. Its kind of sad that the most efficient American car is an SUV, the Ford Escape Hybrid at 32mpg combined.

    I'd also make sure you look beyond just simple fuel savings. A car that seems a bargain up front can end up costing you a lot more over time in terms of depreciation, maintenance, reparis, etc. For example, here are the MSRP and CR 5 year cost of ownership for a few vehicles:

    Vehicle ----- MSRP ------ 5 year TCO
    Chevy Aveo -- $12,120 --- $25,750
    Chevy Cobalt- $14,225 --- $31,750
    Honda Fit --- $14,750 --- $25,250
    Ford Focus -- $14,755 --- $31,750
    Pontiac Vibe- $15,710 --- $30,750
    Nissan Sentra $16,040 --- $31,500
    Chevy Malibu- $19,345 --- $31,750
    Toyota Prius- $21,500 --- $27,500

    Even though the Focus, Vibe, Sentra, Cobalt and Malibu all look significantly cheaper than the Prius, over 5 years they cost $3-4k more! Similarly in subcompacts, the bottom ranked Aveo might be tempting based on price but over five years it actually costs more than the top ranked Fit.

    Rob
     
  20. ystasino

    ystasino Active Member

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    We don't know what you really want from your new car. I would only buy the Prius if I were to drive it at a minimum of 9-10,000 miles per year.

    What you want to look for is the "5-year, true cost to own" figure posted at yahoo and MSN auto websites. The Prius has the same 5-year ownership cost as the corolla, the civic, the sentra and the elantra but has less emissions, less maintainance, more electronics and features and better safety than all of them.

    Cars slightly larger than the Prius such as the Camry and the Accord have $10k higher cost of ownership compared to the Prius.