Is a Yaris cheaper to own and operate than a Prius?
Click above image for a gallery of the 5-door Yaris
With the soaring cost of fuel and an increased awareness of global warming, more and more people are looking at hybrids as a way of saving a buck and the environment at the same time. The king of all hybrids is the Toyota Prius, which comprises the lion's share of all hybrid sales. It'll net you 48 mpg in the city and 45 mpg on the highway, and when you're done with your hybrid hatch, you can sell it with minimal depreciation. The Prius has a lot going for it, but does it have the lowest cost of ownership? It would, if not for another member of the Toyota lineup.
IntelliChoice figures total cost of ownership over a five-year period by balancing depreciation, insurance, financing, maintenance and repairs, and fuel costs. While the Prius delivers $2,000 in fuel savings over that period of time and very high residual value, the Yaris beat out the Prius in cost of ownership by a rather large $1,300. The reason? There are a few, really, including the Yaris' bargain basement starting price of $13,945, which is much lower than the $22,220 it takes to get you into a Prius. Then there is the fact that the Yaris also gets solid fuel economy, with city/highway numbers of 29/35. Financing $22k is also a lot tougher on the wallet then a meager $14k.
The Yaris may have won the cost of ownership battle, the Prius is still winning the war. Prius sales are killing Yaris sales, and while the Prius is no beauty queen, the Yaris is just as homely while also having far less interior room.
[Source: Automobile Mag]
Reader Comments (Page 1 of 2)
Paul Sallmen 3:52PM (8/21/2008)
This is rather like comparing an apple to an orange - the Prius and Yaris are in different classes.
I'll bet a 1991 Olds Cutlass Ciera, with 200 000 + km is cheaper to run than both of these cars, too. With old cars, you don't have to deal with the pricey features of new cars, ie higher insurance costs, faster depreciation (old cars have already had their depreciation) and more expensive repairs (because new cars often have to be fixed at the dealer, which inherently is more expensive than a 3rd party mechanic)
A more accurate comparison would be comparing a Yaris with a Honda Fit. Otherwise, if you just want to compare straight cost, keep the old car well looked after and on the road.
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Gordio 3:53PM (8/21/2008)
Money wise, it's usually not economical to get a hybrid. I'm sure there are other eco gasoline car that end up being cheaper than the prius.
with the prius you get more stuff, 1) bragging rights 2) luxury (people complain yaris feels too cheap and makes too many sacrifices (i.e. no ABS) to ahcieve its mileage) 3) bragging rights 4) bragging rights
I'm sure I can mention 6 more reasons.
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BHendrix 4:59PM (8/21/2008)
You can get ABS on a Yaris. In fact, they'll be standard equipment for 2009, along with six airbags.
FYI:
http://pressroom.toyota.com/Releases/View?id=TYT2008080460235
BoneHeadOtto 5:23PM (8/21/2008)
Money wise it is economical to get a hybrid currently. The depreciation on hybrids has been virtually Zero. So current owners of hybrids could have been getting terrible mileage and still been more economical than anything else in their class.
Typically people look at a 20k prius and a 15k civic and say... oh i dont think i will save $5k over the course of ownership. But that is assuming that when you are done with the Prius that it will sell used for the same price as the civic. The problem is, no one really knows what the future resale of a hybrid will be. Right now they depreciate so slowly that they are more economical... but only if you already purchased one a few years ago. It is anyones guess what they will do from here.
look at the edmunds true cost to own and they say that you should be able to purchase a used Prius for thousands less than you really can. So it really is an apples to oranges when comparing depreciation.
Scott 10:04AM (8/22/2008)
The hybrids don't depreciate NOW, but once the warranty runs out on that $10,000 battery (10 years) it'll probably be worth less than cars that are twice it's age.
jblog 3:37PM (8/22/2008)
"The hybrids don't depreciate NOW, but once the warranty runs out on that $10,000 battery (10 years) it'll probably be worth less than cars that are twice it's age."
Don't know where you're getting your information, but current cost of a battery replacement is about $2,500, not $10,000.
As to the original post about what you "get" with a Prius, here's what I got in addition to a roomy interior, smooth ride, good pickup and great gas mileage:
-- Keyless entry and start
-- Head-up display
-- Backup camera
-- Touchscreen controls
Those are all included in the cost of the base model -- about $24,000 when I bought my a year and a half ago. Generally speaking, you can't get those features in another vehicle that costs less than $10,000 more.
Pierre Lourens 4:35PM (8/21/2008)
I just can't wait till the 5-door Yaris hatchback arrives in the USA.
C'mon Toyota.
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killroy1999 5:03PM (8/21/2008)
I would rather give money to the car companies than unfriendly oil rich countries.
A used Honda Insight would go for 8K, and that gets 65-70 mpg. Now that oil is not dirt cheap, there is a premium on fuel efficient used cars because of the demand.
Every hybrid bought lowers the cost of the electric drive train which will pave the way for full performance electric vehicles.
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brn 9:04AM (8/25/2008)
"A used Honda Insight would go for 8K, and that gets 65-70 mpg"
I don't know why such misleading information gets voted up. A 2006 Honda Insight is EPA rated at 45/49/47 (cty/hwy/avg). That's pretty darned good.
Yea, I'm sure you know someone that gets better. With some careful driving I manage to blow away the EPA rating on my 9 year old ICE sedan too. The key is that with typical driving, the EPA figures are relatively accurate.
ale 4:51PM (8/21/2008)
and besides, how could you possibly pass up the image of "owning a hybrid" which says that "I'm saving the planet, what are you doing?"
the Yaris would obviously scream, "cheap, small, and omg those wheels are the size of a cd," not the image your SoCal lifestyle could support. On the otherhand, maybe a smart is smarter
oh wait, the (american) smart doesnt get any better mileage (not very much more) than a 5 door yaris
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fnc 4:58PM (8/21/2008)
Isn't the Prius a bit larger than a Yaris? Might having a roomier car be worth money to some people? I've sat in the back seat of a Prius and it's far more comfortable than any of the sub-c cars I've been crammed into. If I had a small family, I'd be very thankful for some extra room without having to sacrifice efficiency.
Lots of people seem to like to rag on the Prius like eveyrone is fooling themselves when they buy one, but it might, just ~might~, be selling well because it fills a need in the market extremely well.
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stevefazek 5:37PM (8/21/2008)
The prius is more comparable to a Matrix NOT A YARIS. A bike is cheaper to own then a prius Hell walking is cheaper.
its a $2000 price premium any any time gas gets close to 4 bucks a gallon its pay off is in under 2 years.
Plus hybrids brakes pretty much last 3-4 times longer then a regular car.
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Harlo Mayne 10:26PM (8/24/2008)
Edit (3m 14s…)
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paul@hampdenwireless.com 9:13PM (8/21/2008)
Wow. They found cheaper car is cheaper to own.
Besides how much more luxurious the Prius is, its also safer. The premium is more like $1200 not $2000 according the article, so over five years thats $20 a month.
And the Prius is roughly the same cost of ownership as junk like the Aveo. Wow. Pretty easy choice.
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Warner Young 7:15PM (8/21/2008)
It's not just the backseat of the Yaris. Even the front seats feel a lot more cramped, at least to me. The ability to haul some extra luggage with you, when needed, is also nice in the Prius.
And finally, this study is based on 5 years. Maybe I'm atypical, but I generally figure I'll own a car for 10 years. Plus, they're looking at 14,000 miles per year. I tend to average 15,000 per year. Throw in the tax rebate on a hybrid (if you manage to get it) of about $700, and it seems like it's more of a break-even contest.
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Ben 7:21PM (8/21/2008)
You can buy a one year old Chevy Impala that averages over 30 miles per gallon (real world, i tested it for 7 days) for about $14,000 too. and it is a lot roomier and more substantial. thoughts?
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BoneHeadOtto 8:16AM (8/22/2008)
>>thoughts?
yeah dont ever buy a chevy impala :)
If this is really about saving money your best bets are old used economy cars. The ones that are actually rated to get good mpgs. Im not sure what driving conditions you got 30 in an impala but fueleconomy.gov users are reporting about 25mpg avg with the impala.
LaughingTooHard 9:51PM (8/24/2008)
Ben.,
Don't bother trying to get people to think there are cars out there that get decent mpg except the Prius.
Prius lovers are like Obama-ites – they don’t listen to anything but “Wow you are so smart for choosing (insert current trend here)”
My '06 Impala 3.9l gets 25mpg around town, 20 if you floor it from every stop sign/light (then again 240bhp is fun) and on my last trip was just over 1200miles round trip, with 4 adults (3 sleeping like babies) and a trunk full of several hundred pounds of camping gear - average speed: 63.8mph, average MPG: 30.2
I'd love to rent a Prius and see 1) If everything and everyone would fit 2) If it would get that magical 40+mpg at 63mph through hilly upstate NY and 3) If anyone would get any sleep.
For people who need to do more than impress the 70 year old hippies down the street, there are lots of cars that will do the job of transporting people and gear, comfortably and get over 30mpg.
JoeP 1:30AM (8/22/2008)
I am not sure why no one makes the argument that getting the best mileage today will be saving lots of money later.
If, for example, we have 15 years of oil left, and by conservation we stretch that out to 30 years, don't you think that has a value? If we do run out after 15 years, won't we say cr*p!, I wish we bought a lot more Prii, or will we say Priuses?
It's called cost avoidance. Unfortunately, most people think only of the next month's gas bill, all the while wondering why large corporations only think of the bottom line.
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LloydChiro 9:33AM (8/22/2008)
The manufacturing of new cars burns a lot of petrochemicals. If you really wanted to conserve what oil you have left, and you must drive a car, then running what you already own--no matter how big and inefficient it is--is probably the best choice.
Of course, taking the bus would be a better idea for the socialist thinking Prius drivers, yet I never see those types standing at the bus stop...