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by answerbeggar on January 15th, 2008

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I bought a used car and the insurance is cheap, but I'm planning on getting a new Toyota Prius, since the fuel economy on Prius is great, so I spend less on gas but my insurance will definitely go up, so do I still save money?

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Answers. 6 helpful answers below.

  • by Charlie17 on January 15th, 2008

    Charlie17

    Nope, the Toyota Prius will probably not save you money.
    Think of it as a $2000 donation to charity, to make the air cleaner.

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  • by Stableboy on January 15th, 2008

    Stableboy

    The way to save money is to drive an old, reliable car that's paid for. If you want a Prius because it's greener, that's fine and respectable, but you'll definitely have more out of pocket expenses

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  • by .avallach on January 15th, 2008

    .avallach

    A year or so I read an article saying that the price difference between a Honda Civic and a Honda Civic Hybrid was so much that it would take about 13 years for the upgrade to pay for itself in gas savings (not the total vehicle cost, just the difference in price). I'm not sure how much more you're spending to get yourself a fuel-efficient vehicle but keep that in mind. Of course there's always the good feeling you get from knowing you're driving a 'greener' vehicle but I'm not sure how much money that feeling is worth.

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  • by Gideon on January 15th, 2008

    Gideon

    Chances are slim you'll save money. One, you're buying a new car and you already drive a used car. Two, your insureance will go up. Three, hybrid cars tend to be even more expensive than standard new cars.

    You'll save some on gas but it probably won't come near what you'll be spending. As they say, drive a hybrid for the principle, not the savings.

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  • by Status on January 15th, 2008

    Status

    In the long run probably, because in a year or so you could get different insurance and it will be cheaper if youre a good driver. but hold on (shakes eight ball) it looks likely :-D

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  • by SarahK on March 1st, 2008

    SarahK

    If you're concerned about the fuel economy, go with a Honda Insight that gets 70 MPG... if you can find one, that is.

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You're reading I bought a used car and the insurance is cheap, but I'm planning on getting a new Toyota Prius, since the fuel economy on Prius is great, so I spend less on gas but my insurance will definitely go up, so do I still save money?

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