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You shouldn't need to consult a financial planner to make that clearly obvious judgement. But to many people purchasing an economical high mileage car and being careful about how you use it just makes you look cheap. But buying a Prius makes you look like you are concerned about the environment.
The Prius has been on sale in the U.S. for 12 years. The battery packs inside have a predicted 10 year, 300,000 mile life. But the warranty is only 150,000 (or 100,000) miles. Roughly 500 or so owners every month experiencing an expired nickel-metal-hydride battery pack. The unit cost of a Toyota Prius battery pack is between $2,300 and $2,590, depending on the model you have.
So if you are looking at a 2010 Prius with 75K miles, and a 100K warranty, then you have to make a judgement call. Since many of the battery packs last to 300K miles, you may get a good deal. It may be worthwhile to get an independent look at the battery to see if it is dying.
On the other hand, the cost is well known and you can take into consideration in your negotiations. Often with other cars you have a big unknown in replacing the transmission or with some other problem.
When making a financial decision, you have to look at the risk. I find it odd that you completely ignored the risk.
The batteries might be expensive, but the likelihood of having to replace them in the first 15 years is so low (statistically). You have to consider the fact that the eCVT in a prius will last well beyond 15 years, while a traditional car will need it replaced once or twice by then, it's a moot point.
I think driving less saves a hell of a lot more gas. There was a study once that Prius drivers drive more than gas powered cars which sucks a lot of savings away.
Post the study. Does it take into consideration the fact that many people buy Prius's because they know they drive all day?
A transmission replacement on a traditional vehicle can cost just as much and is more likely to need replacement than a Prius drivetrain battery (by quite a margin). So that really is a silly thing to consider.
Yes... an eCVT (as many hybrids do). No shifting, grinding, etc. They will outlast the car.
Well, Ok , but I had to find out for myself. Here it is,
"In practice, however, most modern CVT gearboxes suffer from the same problems as their ancestors: because they don’t have gears (like on the back wheel of a bicycle), many CVTs use belts instead, like the one that goes around your waist. The problem is, these transmission belts break, no matter how well they’re made. When they break, the whole transmission has to come out, generally for a complete overhaul at great expense. CVT gearboxes that use chains are better, but they still break.”
Well, that is incorrect. I drive a lot of highway miles, and the Prius does fine. At speeds of 65 mph and under, mine does 48-50 mpg almost without exception. It also does that mpg driving at high altitude over 10,000 ft. mountain passes. I don't get it when clowns post that it won't climb hills. Mine will maintain 60-65 mph climbing a 7% sustained grade at over 8,000 ft. elevation with the cruise control set--and still get 50 mpg. And, when somebody posts, "Well, my ABC will get 40 mpg on the highway," do they realize that means that the Prius is getting 25% better fuel economy at 50 mpg than what they drive? And, if they're getting 25 mpg in city driving, that the Prius is getting DOUBLE that fuel economy? Maybe math wasn't their strong suit?
Prius haters love to say that replacing a battery pack at, say, 200K miles means that the car must be no good. Hmmm, what kind of shape is the typical gasoline engine in at 200K miles? And how soon might it have to be replaced and at what cost?
First off, any car that's getting 40 mpg highway is getting 30-35 city. Not 25. So you can cut that out. Also, if you use synthetic oil, any modern engine should surpass 200,000 miles without breaking a sweat. Your Prius has an internal combustion engine as well (one that's starting and stopping dozens of times every time you take a trip), so you're not immune there.
Second, my wife's Corolla has more torque than the Prius, weighs less than the Prius, doesn't have a CVT, and it's STILL a total dog under hard acceleration and climbing hills. So unless physics don't apply to the Prius, deductive reasoning would suggest it's also a dog. I don't get it when clowns post like the Prius is some drag car and is so incredibly fun to drive. It's a dog. Its sole purpose is to stretch a gallon of gas.
There's nothing special about the Prius, it's a compact car with compact car amenities with mid-size car pricing. Also, most people purchase their car via a loan. So not only are you paying thousands more for the luxury of having a hybrid, you're paying interest on top of it all. Frankly, I wouldn't be surprised if yours is leased. I didn't include for smug factor though, that might be worth the $8k-$10k extra. But don't sit there and say that you bought a Prius to save money. The best way to save money is to buy used and drive it into the ground. You can get a 3 year old Corolla for under $10k, and you'll still have it 25 years from now. You'll get 34mpg city and ~39hwy. And when the smug Prius owner laughs at the extra $50 a month you spend on gas, you can laugh at his $500 car payment. Opportunity cost, FTW.
And sorry, your Toyota Pious is not getting 50mpg uphill doing 65 mph at 10,000 ft elevation, not unless you're being towed. Lack of oxygen at that altitude definitely affects the car, but I think it's affecting something else you own as well.
Electricity has its place in cars, and it's in fully electric cars like the Tesla lineup. The Chevy Volt is alright but like any other hybrid it's too expensive, plus it's a GM product. But what would the world be without Prius owners?
Last edited by Hollywood; 12-07-2014 at 10:55 PM..
Well, Ok , but I had to find out for myself. Here it is,
"In practice, however, most modern CVT gearboxes suffer from the same problems as their ancestors: because they don’t have gears (like on the back wheel of a bicycle), many CVTs use belts instead, like the one that goes around your waist. The problem is, these transmission belts break, no matter how well they’re made. When they break, the whole transmission has to come out, generally for a complete overhaul at great expense. CVT gearboxes that use chains are better, but they still break.”
In any even, it is too early to make a statement that "They will outlast the car”. The early performance of CVT has been mixed at bets.
CVTs are hot garbage right now. Maybe in the future they'll be alright, but I wouldn't buy a CVT equipped car with someone else's money.
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