Frugal and Energy Efficient Living

Starboard Tack

(11,181 posts)

33. A new Prius costs about $5,000 more than a new Matrix

Sun Jan 1, 2012, 05:11 PM

Jan 2012

A Prius would save you about $500-$600 a year based on your commute and gas price of $3.50/gal. So, if gas prices stay the same, you come out ahead in 8-10 years. If they go up, which I think highly likely, you come out ahead much sooner. Think about gas prices 5 and 10 years ago. In 2001 average price for regular was about $1.70/gal. In 2006 it was $2.20/gal. Today it's about $3.30/gal. An annual average increase of about 10%

So, we may conclude that in 5 years it could well be at least $4.50/gal. Where I live, believe it or not, regular costs $6.50/gal today.

A new Prius lists at $23,500. If that exceeds your budget, you can find a used one.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

53 replies

= new reply since forum marked as read

Highlight:

When you need to get another car, [View all] Curmudgeoness Dec 2011 OP

I've done a mixture of all your options over the past 20+ years maddezmom Dec 2011 #1

I was surprised to hear anyone was leasing, Curmudgeoness Dec 2011 #12

due to the ex's career we never were in country for more than 2 yrs at a time maddezmom Dec 2011 #18

That makes sense. Not having to store a car Curmudgeoness Dec 2011 #20

I am a low yearly mileage driver. Melissa G Dec 2011 #2

Very reasonable for a low mileage driver. Curmudgeoness Dec 2011 #13

I normally buy used, but got burned once. Ruby the Liberal Dec 2011 #3

This is a great suggestion to run the numbers Curmudgeoness Dec 2011 #14

My car is 25 years old. MADem Dec 2011 #4

Yep, same here!!! n/t RKP5637 Dec 2011 #7

Wow, I think you win the frugal award for this. Curmudgeoness Dec 2011 #15

Well, I had more than one car for awhile--different uses, different needs. MADem Jan 2012 #45

You and I came to the same conclusion Curmudgeoness Jan 2012 #47

Introducing "The Fruggies" ... eom Kolesar Jan 2012 #46

New or slightly used... Phentex Dec 2011 #5

I would just love to have a professional haggler in my corner. Curmudgeoness Dec 2011 #16

I've had old and new. Some cars I've had 20 years old in pretty much mint condition. My cars RKP5637 Dec 2011 #6

Buying new is what I have always done in the past, because of long commutes. Curmudgeoness Dec 2011 #17

From a frugal point of view, definitely used. Starboard Tack Dec 2011 #8

I agree that used is definitely more frugal. Curmudgeoness Dec 2011 #10

Most mechanics will inspect a prepurchase for a fee. Ruby the Liberal Dec 2011 #11

About the Prius Starboard Tack Dec 2011 #23

Mine is almost all highway with little slowdown Curmudgeoness Dec 2011 #26

Consider renting for vacations Starboard Tack Jan 2012 #28

I have a Toyota Matrix now. Curmudgeoness Jan 2012 #31

A new Prius costs about $5,000 more than a new Matrix Starboard Tack Jan 2012 #33

I suppose that there may be used Prius's out there now. Curmudgeoness Jan 2012 #34

We're on Catalina island off southern California Starboard Tack Jan 2012 #35

I always thought that there were no autos on Catalina. Curmudgeoness Jan 2012 #37

There are autos. Not many and we don't have one here. Starboard Tack Jan 2012 #38

Check this link for used Prius prices Starboard Tack Jan 2012 #36

8-10 years to "break even" is a bad financial gambit Kolesar Jan 2012 #52

Regarding the battery on the Prius Starboard Tack Jan 2012 #53

I buy 10 year old used, with low miles,, preferably owned but little old ladies bahrbearian Dec 2011 #9

Bwahahah, you might be disappointed to know Curmudgeoness Dec 2011 #19

I used to repair all my cars, but now days, being a fat old man, I leave it to the youngsters bahrbearian Dec 2011 #25

I buy used, always. dixiegrrrrl Dec 2011 #21

You are right, the computer is great Curmudgeoness Dec 2011 #22

Always have an independent mechanic look it over before buying. Starboard Tack Dec 2011 #24

I had a mechanic lined up to look at it before I bought it/them. dixiegrrrrl Dec 2011 #27

Really depends on your needs Sherman A1 Jan 2012 #29

So this was a new car purchase, I assume? Curmudgeoness Jan 2012 #30

Yes, it was a new car purchase. Sherman A1 Jan 2012 #32

I buy new cars and drive them ten years Kolesar Jan 2012 #39

This is what I have done in the past as well. Curmudgeoness Jan 2012 #42

I hope that never happens to me. hunter Jan 2012 #40

Why do you suggest that it was a mistake? Curmudgeoness Jan 2012 #41

Car payments were a serious hardship. hunter Jan 2012 #43

Yes, new car payments can take a toll. Curmudgeoness Jan 2012 #44

I (nearly) always buy a 2 year old vehicle with <24000 miles. kristopher Jan 2012 #48

Excellent. You do everything that I think we all should do, Curmudgeoness Jan 2012 #49

20 miles kristopher Jan 2012 #50

Thanks for all the great advice. :) nt Curmudgeoness Jan 2012 #51