RISMEDIA: at last a fair review!
#1
03-25-2008, 08:02 PM
Join Date: Oct 2005
Location: Huntsville, AL
Posts: 5,613
RISMEDIA: at last a fair review!
For over two and a half years, I have been waiting for this review:
http://rismedia.com/wp/2008-03-25/do...ave-you-money/
I bought a used, 2003 Prius in October 2005 and knew that every review up to then and since has FAILED to incorporate the resale price. I didn't mention it in part because it is a subtle aspect of "cost of ownership." Folks, we have found an honest news service and source:
http://rismedia.com/wp/2008-03-25/do...ave-you-money/
. . .
On the surface, it would appear that with an annual fuel savings of $590 for the Prius, it would take roughly seven years and three months for the Prius to equal the cost of the Corolla. But that, however, is not the whole story.
Let’s return to Kelley Blue Book, and-here is where it gets a bit theoretical, but still valid-look at the value of a used Corolla and a used Prius. It’s worthwhile, but often overlooked, for both fleet and private buyers to consider the value of a vehicle when it’s time to get rid of it, not just to acquire it.
Retail value of a 2004 Toyota Prius, in excellent shape, with 50,000 miles, should be $19,320, according to Kelley. Retail value of a 2004 Toyota Corolla LE, in excellent shape with 50,000 miles, should be $14,105.
Advantage: Prius. While the Corolla has very good resale value, the Prius’ resale is astronomical, among the best in the industry.
. . .
On the surface, it would appear that with an annual fuel savings of $590 for the Prius, it would take roughly seven years and three months for the Prius to equal the cost of the Corolla. But that, however, is not the whole story.
Let’s return to Kelley Blue Book, and-here is where it gets a bit theoretical, but still valid-look at the value of a used Corolla and a used Prius. It’s worthwhile, but often overlooked, for both fleet and private buyers to consider the value of a vehicle when it’s time to get rid of it, not just to acquire it.
Retail value of a 2004 Toyota Prius, in excellent shape, with 50,000 miles, should be $19,320, according to Kelley. Retail value of a 2004 Toyota Corolla LE, in excellent shape with 50,000 miles, should be $14,105.
Advantage: Prius. While the Corolla has very good resale value, the Prius’ resale is astronomical, among the best in the industry.
. . .
© 2008, The Orlando Sentinel (Fla.).
Distributed by McClatchy-Tribune Information Services.
Bob WilsonDistributed by McClatchy-Tribune Information Services.
Last edited by bwilson4web; 03-25-2008 at 08:06 PM.
#2
03-26-2008, 09:29 AM
Re: RISMEDIA: at last a fair review!
Generally a very accurate and fair comparison. I don't quite know how it could be done in a manner to improve objectivety, but I think I would like to see a more "generic" comparision using a vehcile other than the Corolla. Like the Camry, the Corolla is so popular that it somewhat distorts the resale value toward the top end due to extraordinary demand relative to almost every other car in its class. It's not quite "apples to apples". (The same could be argued for the Prius, but it IS the only car in its class, except for possibly the HCH.)
A TCH to Camry (both top-end popularity mid-sized), or Escape to FEH (both top-end popularity SUV) would get nearer to the mark.
A TCH to Camry (both top-end popularity mid-sized), or Escape to FEH (both top-end popularity SUV) would get nearer to the mark.
Last edited by FastMover; 03-26-2008 at 09:32 AM.
#3
03-26-2008, 09:42 AM
Re: RISMEDIA: at last a fair review!
The other thing most articles leave out is the much lower maintenance costs for the hybrids
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