This Prius Is The Worst Car I Ever Bought | One Year Update

As a finance guy, I’am always looking for ways to save money, and one those big ways can be the car you choose to buy. So my first car ever was a $9,000 dollar Toyota Prius 2014 with less than 100k miles, and remember looking at a 2019 toyota corolla for $13,000 and it had over 100k miles. Now my Misinformed logic was, one has less miles, and if $4000 cheaper and is always going to save me a ton of money on gas, buy was I wrong.

So this video I’m going to break down my mistake and hopefully you can avoid making the same one.

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Upfront Cost vs Owning Cost

You see people make this mistake a lot of the time

They assume that because something is going to cost more today, they are better off buying something cheaper

Or that if something cost more today, and it save them money later, then it’s a good deal

For example:

A lot of people spend 50k on tesla to save money on gas

Not know that the average person spends $1850 on gas per year but they will spend $615 a year on electricity

People see that $1235 differnece and say over 10 years I’m going to save $12,235 dollars

However the truth is:

You can find a decent Gas powered car with decent range of 35MPG for less than 20k, take a look at the 2021 Toyota corolla with less than 50k miles and average life expectancy of 300k miles ( you can find some that older for less than 10k)

Now you compare 30k you get to keep for 10 years and that 30k invested turns into $81,643 dollars

And you can probably still keep using that car for another 10 years

Questions: but what about the future, in 10 years you’ll cash to buy an electric car if the tech and the price starts to make sense

Maintenance Expense

Although I only spend $30-$50 on gas per month on my Prius

When ever I needed to fix anyhting with that car, it was over for me

Because everything cost more

For example:

To change the bearing, was easily 600-800 just for the front

Break electric pump was messed up, cost nearly 2k, thank God it was covered under warranty

Batteries were also more expensive than normal vehicals

And not every mechanic would touch it, so expect labour cost extra money

But with Gas Powered Cars

Since there are so many on the road

All mechanics know how to deal with them

And parts are so much cheaper, maintence is also cheaper

The only cheap about a Prius is owning it but maintencing is an entirely different beast.

Tip: I wont even mention how expensive it is to fix the main battery if it starts to fail

Highway vs Citi MPG

Cars have become a lot more efficient

And when we look at MPG, we tend to see high numbers with Hybrids and also electric vehicals

But what really helps hybrid cars is the breaking in City lines, beucase every time you break the battery chareges and when you go short distance it doesn’t use gas really

But on the highways:

The numbers are really not that impressive

What I wish I had done and what I’m going to do next

I wish I would just bought a corolla non hybrid, easier to fix and maintain

I wish I would have taught long term and not just short term savings

The entire deal was a disaster.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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