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8/14/2019 HYBRD VS GASOLINE CARS COMPARISON
1/5
COMPARISON OF COST OF OWNERSHIP OF
2007 TOYOTA COROLLA (A GASOLINE POWERED CAR) AND 2007 TOYOTA
PRIUS (A HYBRID)
Particulars5 Years of Ownership of cars 11 Years of Ownership
of
Toyota Corolla Toyota Prius Toyota Corolla Toyota PCost of the
car $15,000 $24,000 $15,000 $
Gas economy (MPG) (Assuming Highway Driving) 38 51 38
Total number of miles driven per year 15000 15000 15000
No of years of ownership 5 5 15.63
Total distance travelled during the period of ownership 75000
75000 234450Total gas consumption per year 395 294 395
Total gas consumption during the period of ownership 1974 1471
6170
Average Cost of gas per gallon $4.00 $4.00 $3.00
Total Cost on gas per year $1,578.95 $1,176.47 $1,184.21 $
Total Cost of gas during the period of ownership $7,894.74
$5,882.35 $18,509.21 $13,
Tax Credit $- $(1,000.00) $- $3,
Cost of Insurance per year $1,400 $1,350 $1,400
Total Cost of Auto Insurance during the period of ownership of
the vehicle $7,000 $6,750 $21,882 $
Total Cost of ownership $29,894.74 $37,632.35 $55,391.21
$55,
Total gap in the cost to be bridged $0.00 $7,737.62 $0.00
$2,
Conclusion: With the current gas prices and insurance rates and
total miles driven, it will take over 15 yrs to get your moneback
on a Hybrid Car !! So, you decide whether you get the bang for the
bucks by buying a hybrid !! Conversely, it will costmore $3740.71
to own a hybrid over a period of first 5 years. If you have this
extra money in disposable income, you may be
better off donating it to charity rather than on spending it on
a hybrid. At least you will get a tax benefit of over $1000 too if
do that.
Also, take a look at the other two worksheets below where I have
copied the calculationos of the cost ofownership of 2007 Toyota
Corolla and 2007 Toyota Prius from www.edmunds.com. Even there the
differencebetween the two costs of ownership over 5 years comes
to
ARE YOU CONVINCED NOW ON WHAT MAKES MORE SENSE BUYING A
ECONOMICAL, GAS POWERED CAR LIKE TOYOTA COROLLA OR AEXPENSIVE CAR
SUCH AS TOYOTAL PRIUS ?
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8/14/2019 HYBRD VS GASOLINE CARS COMPARISON
2/5
About TCO
Summary
True Cost to Own* $32,899.00Total Cash Price
Average Cost per Mile*
True Cost to Own Ratings**
operating cost depreciation costlo hi lo hi
$ $$$ $ $$$
True Cost to Own
Year 1
Depreciation $3,575Financing $1,108Insurance $1,392Taxes &
Fees $1,266Fuel $1,342Maintenance $380Repairs $0
Yearly Totals $9,063
True Cost to Own SM (TCO)
$32,899 view details
$16,223 view details
$0.44 compare similar vehicles
*This is a 5-year estimate (based on 15,000 miles peryear).
**
Ratings are determined for a specific vehiclecategory
Based on regional costs for Zip Code:7502Change
http://www.edmunds.com/new/2007/toyota/corolla/100773492/cto.html?step=2&setzip=75028http://www.edmunds.com/new/2007/toyota/corolla/100773492/cto.html?step=2&setzip=75028http://www.edmunds.com/new/2007/toyota/corolla/100773492/cto.html?step=2&setzip=75028http://www.edmunds.com/new/2007/toyota/corolla/100773492/cto.html?step=2&setzip=75028
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8/14/2019 HYBRD VS GASOLINE CARS COMPARISON
3/5
Year 2 Year 3 Year 4 Year 5 5-yr Total
$1,627 $1,431 $1,269 $1,139 $9,041
$898 $670 $422 $154 $3,252
$1,441 $1,491 $1,513 $1,597 $7,434
$62 $64 $64 $54 $1,510
$1,382 $1,423 $1,466 $1,510 $7,123
$610 $593 $852 $1,486 $3,921
$0 $89 $215 $314 $618
$6,020 $5,761 $5,801 $6,254 $32,899
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8/14/2019 HYBRD VS GASOLINE CARS COMPARISON
4/5
About TCO
Summary
True Cost to Own* $35,680.00Total Cash Price
Average Cost per Mile*
True Cost to Own Ratings**
operating cost depreciation costlo hi lo hi
$ $$$ $ $$$
True Cost to Own
Year 1
Depreciation $3,320Financing $1,646Insurance $1,356Taxes &
Fees $1,740Fuel $870Maintenance $493Repairs $0
Yearly Totals $9,425
True Cost to Own SM (TCO)
$35,680 view details
$24,107 view details
$0.48 compare simila
*This is a 5-year estimate (based on 15,000miles per year).
**
Ratings are determined for a specificvehicle category
Based on regional costs for Zip Code:7502Change
http://www.edmunds.com/new/2007/toyota/prius/100777218/cto.html?step=2&setzip=75028http://www.edmunds.com/new/2007/toyota/prius/100777218/cto.html?step=2&setzip=75028http://www.edmunds.com/new/2007/toyota/prius/100777218/cto.html?step=2&setzip=75028http://www.edmunds.com/new/2007/toyota/prius/100777218/cto.html?step=2&setzip=75028
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8/14/2019 HYBRD VS GASOLINE CARS COMPARISON
5/5
Year 2 Year 3 Year 4 Year 5 5-yr Total
$2,579 $2,269 $2,012 $1,806 $11,986
$1,334 $995 $628 $229 $4,832
$1,403 $1,453 $1,474 $1,556 $7,242
$62 $64 $64 $54 $1,984
$896 $923 $951 $980 $4,620
$727 $652 $976 $1,550 $4,398
$0 $89 $215 $314 $618
$7,001 $6,445 $6,320 $6,489 $35,680
