Updated Consumer Reports FUD
Conclusions: With the full tax credit, the Prius beats the pants off even the Corolla. Without any of the tax credit (which will eventually happen this year, since it gradually expires as more Toyota hybrids are sold), the Prius doesn't beat the smaller Corolla (if you use accurate data) but still beats the pants off the Camry.
|Cost Item||Prius vs. Corolla|
|Prius vs. Corolla|
|Prius vs. Camry|
|Extra sales tax||$400||$400||$201|
|Extra financing cost||$792||$792||$426|
|Savings from hybrid tax credit||$(3150)||$(3150)||$(3150)|
|Extra insurance cost (or savings)||$300||$3003||$03|
|Extra maintenance cost (or savings)||$300||$04||$04|
|5-year resale price differential7||$(2494)||$(4000)5,8||$(1000)5,8|
|Total extra cost (savings) with/without tax credit||$(406)
- Purchase price estimated from midpoint of range published in CR.
- Using estimated combined MPG of 24 in CR's tests. Don't yet know figures for new Camry.
- This is probably correct, but has to do with the higher purchase price more than anything else. Estimated same insurance for Camry for that reason.
- Previous-gen Prius broke down less than Corolla and required less scheduled maintenance (brake pads and such). Higher cost of having to go to dealer instead of independent sometimes makes up for this.
- Prius has depreciated less than essentially any car out there - in fact we still get offers from our dealer to buy it back for about what we paid for it 2 years ago. I'm being conservative here in favor of the Corolla and Camry, believe it or not.
- Proportional adjustment from extra cost to Corolla - this is probably slightly off since it's not quite that simple, but close enough for our purposes.
- This is how they fixed their methodology. Negative numbers (in parentheses) indicate higher resale value for Prius.
- I've estimated higher sales price after 5 years for Prius vs. Corolla and Prius vs. Camry based on CR's own depreciation ratings from later in the issue (see note 5).