Despite gas prices returning to more reasonable levels, interest in fuel-efficient vehicles and particularly hybrids, remains high. Today, consumers have their choice of many models with hybrid capability from sedans to SUVs. But price remains a sticking point for some consumers.
Did you know that the manufacturer suggested retail price (MSRP) for the all-new 2010 Toyota Prius is $22,000? That's actually $1,806 less than the $23,806 median price of the mid-size sedan segment. Honda's most affordable hybrid, the compact class Honda Insight LX (base model) is priced $1,400 higher (2009 compact car median price is $18,395) and achieves only a modest fuel-economy advantage over other cars in the same segment
Let's do some math based on a Toyota Prius II (base MSRP of $22,000) versus a Honda Insight EX (base MSRP of $21,300). These models represent the most popular configurations among consumers.
Using industry loan averages, including tax and other fees, the Prius has a monthly payment of $435 with $2,400 down. The Insight would carry a monthly payment of $420 using the same math, a $15 savings.
But let's not forget annual fuel costs. Prius offers an EPA-estimated combined fuel economy rating of 50 mpg. Insight offers 41 mpg. Driving 15,000 miles a year with an annual fuel cost of $2.62 per gallon, Prius would save owners $172 in fuel costs compared to Insight every year. That equates to $14 a month.
Some easy math and you can see the overall difference is just one single dollar a month between owning a Prius and Insight. So for a buck more, you can get a roomier vehicle, that achieves better gas mileage, offers vehicle stability control, driver's knee air bag, beltless engine, rear disc brakes…and the list goes on.
One dollar gains you greater peace of mind. The third generation Prius is available right now at a Toyota dealer near you. But why wait? Experience Prius online today.
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