Beware … Math ahead...
On my WORST average week I drive 110 miles 3 times and 55 miles twice. And this driving pattern doesn’t look like it will be changing much in the years to come.
110 miles x3 + 55 miles x2 = 440 miles/wk
for 52 wks = 22,880 miles /yr
or if I look at just the school year 39 wks = 17,160 miles/yr
I round this down to 17,000 miles/yr and assumed $4/gallon for gas.
If I bought a replacement car that got 24 miles/gal to drive:
17, 000 miles/yr / 24 miles/gal x $4/gal = $2,833 /yr
If I bought a car the got 40 miles/gal to drive:
17, 000 miles/yr / 40 miles/gal x $4/gal = $1,700 /yr
$2,833 /yr - $1,700 /yr = $1,133 /yr
$1,133 /yr / 39 wks * 3.5wks/month = $102/month saved
Looking at the 60 month loan savings:
$1,133 /yr x 5 years = $5,665
If I keep this car for 10 years:
$1,133 /yr x 10 years = $11,133
I know this is a lot more driving them most, and it is focused on the school year. But this is my world right now.
If we were planning to buy a $20,000 car I can use the gas savings to actually buy the car I have wanted for years.
BUT wait theres more…
I made this conclusion in 2014, a year ago. Why did I not buy then?
Consumer Reports pointed out that it could not recommend the Prius V because the IIHS, Insurance Institute for Highway Safety, rated it poor. Link to the 2014.
What can be seen cannot be unseen.
You see those pictures?
I couldn’t do that to myself. Steering wheel into the chest. And that moving front wheel into my legs?! If I wanted an unsafe car I would just keep the one I was driving.
Luckily Toyota had already announced that they were redesigning the front of the Prius V to meet the new standards and was releasing it for 2015!
Not only did Toyota fix the issues in the 2015, they improved it, and the Prius V became a 2015 Top Safety pick from the IIHS. Link to the 2015.
That was it. A 2015 Toyota Prius v will be my second car.
All of this was a 6 year process remember. Critical thinking about what I wanted and needed in a car.