Why buy a prius?

[LivingAlmostLarge]

Okay today on my blog I broke down why buying a Prius never returns the extra cash spent on the purchase. You can buy other comparable size cars for a lot less that are not hybrids.

I was informed that the Ford Fusion Hybrid is around the same price, been testing higher for MPG, and is eligible for the tax credit.

Thus I was wondering, is buying a Prius a status symbol much like a McMansion?

Here's the car argument about the Prius being a status symbol.

And here is the break down.

[disneysteve]

I've said that all along. You spend more on the purchase than you save on fuel costs. It isn't about money. You could argue that it is about the environmental impact, conserving oil, etc. The problem there is I haven't read much about what happens to the worn out batteries when they are disposed of. What does that to the environment?

So yes, I think it is largely a symbolic gesture.

[GREENBACK]

I think the Prius will be a hard sell for a while. How do you convince the average person to pay 21k for this thing when they can buy a comparable vehicle for 10k less and don't have to screw around with batteries that I presume are very expensive to replace. It's new technology and may catch on one day when gas is $10 a gallon in a properous economy but I don't see the good logic in buying one at this point.

[Broken Arrow]

I've mentioned similar arguments in the past, but have been met with resistance.

I think what happens is that you meet well-meaning and forward-thinking people who are concerned about the environment and dependency on foreign oil, and the Prius is marketed as one of the first commercially available alternatives to the free-wheeling, gas guzzling ways that we once had not too long ago.

It's an idea that's really easy to fall in love with. I know I have, and I still have a strong desire to live a greener and more fuel-efficient lifestyle.

Unfortunately, when you start breaking down what's involved in current hybrid technology; the cost, the complexity, and its potential environmental impact for the total life of the vehicle... well, the reality isn't as pretty.

And that's why I've never recommended the Prius or any other similar hybrids as an alternative (except for the slightly-anemic Honda Insight for its fuel-efficiency but not cost).

I'm not sure that it's a "status symbol". Maybe it is, perhaps as a way to publicly proclaim your intentions. But if so, the message is muddled by a vehicle that does not necessarily perform as advertised, depending on your driving usage.

But when you bring this up to "Prius people", I find that they tend to get resistant or defensive. Perhaps, I'm crushing their dreams? Perhaps, they already own one, and don't want someone to tell them they've made a mistake? Perhaps, they are generally intelligent people who does not want to believe they've been conned somehow?

Sigh. Anyway, I concede that I'd rather see too many Priuses on the road than too many Hummers. And I too am also waiting for the "dream car" to come along. One that will truly make a difference in the way of both cost, fuel-efficiency, or possibly both!

For now though? I'll stick to my Corolla....

[Caoineag]

Your assumption is that people choose what car to buy based on solely on monetary considerations. Far as I have seen, NO ONE buys a car based solely on monetary considerations. Otherwise, Ferrari, muscle cars and a great deal of other cars would not be so highly coveted.

The Prius is about people wanting something new and exciting while getting the feeling that they are doing something good for the environment. I see no difference between that and my dad wanting an old mustang because its fast and pretty.

[GREENBACK]

I see your point Coineag but from a purely financial standpoint( which is what LAL is talking about) it doesn't make sense to buy one of these based on the economics of the purchase. I have two gas guzzling trucks that would make a Prius look like a bargain but I need these for my job and my lifestyle. If I wanted a compact car or midsize sedan I couldn't see paying the price for one of these hybrids until they can make the numbers add up.

[disneysteve]

I'd rather see too many Priuses on the road than too many Hummers.

I agree 100%.

[disneysteve]

Your assumption is that people choose what car to buy based on solely on monetary considerations.

When the price of gas shot up to $4, all of a sudden, everyone was flocking to the Toyota dealer to buy a Prius. They didn't all suddenly become concerned about the environment. They did it because they wanted to spend less on gas. The problem was that they were spending thousands more on the car just to save pennies on fuel. I think that was LAL's point.

[financialnut]

I like what Caoineag said up there. As much as I would like to approach a car completely based on monetary thought, I can't do it. There's too many other things about a car to consider.

[GREENBACK]

Sigh. Anyway, I concede that I'd rather see too many Priuses on the road than too many Hummers.

I'm sure GM would prefer too many Hummers on the road...lol.

[Broken Arrow]

I'm sure GM would prefer too many Hummers on the road...lol.

Indeed. It's a financial dead-weight that they can't sell to anyone to save their life right now.

[boosami]

When the price of gas shot up to $4, all of a sudden, everyone was flocking to the Toyota dealer to buy a Prius. They didn't all suddenly become concerned about the environment.

This has been exactly my argument. There's nothing wrong with buying a Prius to try to be more eco-friendly. But buying it to save money simply doesn't make sense when it will take 10 years to recoup the cost of paying extra for a hybrid.

Nothing against Prius owners, but if you crunch the numbers it's irrefutable. Buying a Prius will not save you money!

[Caoineag]

When the price of gas shot up to $4, all of a sudden, everyone was flocking to the Toyota dealer to buy a Prius. They didn't all suddenly become concerned about the environment. They did it because they wanted to spend less on gas. The problem was that they were spending thousands more on the car just to save pennies on fuel. I think that was LAL's point.

I agree if that was someone's sole reason, its lousy. But a lot of people like excuses. Oh I can buy this now because its okay now that gas is so expensive. I am pretty sure the ramp up during high gas prices was people purposely using that as an EXCUSE, not because they thought it was a better deal.

Don't get me wrong, I know there is a lot of people intimidated by math so they don't do the calculations. People aren't always logical or capable of thinking things through. I just think people have assumed that gas prices were the sole reason for the increase in demand when in reality, I suspect it was simply a tipping point for most people who already had wanted one...

[mdcrim]

I'll give you one reason to by a Prius (or other overpriced hybrid). In Northern Virginia (DC suburbs) you get an exemption for the HOV lanes if you have a hybrid. Can save you lots and lots of time. A motorcycle garners the same exemption. That's the only reason I can come up with.

[bjl584]

Just a little food for thought. The manufacturing processes that go into making the batteries for a Prius are more harmful to the environment than if you were to cruise around in a Hummer. There are tons of heavy metals and chemicals that go into producing the power cells in a Prius. If you're buying one to be eco-friendly, then you're being duped. When you peel a few layers back and look deeper into it, you'd be better off just getting a regular gasoline powered car if your sole motivation is the environment. As far as fuel savings, most people will most likely never recoup the premium that they pay for the car to offset any potential savings on fuel. Also, forget about getting your Prius fixed if something breaks. You'd better hope that you have the extended warranty.