Is there a better choice? (another car thread)

[k-vette]

My wife and I had multiple vehicles, a 2010 Camry, 2006 corolla, and a Honda motorcycle.  To cut back, we sold the corolla.

I take the motorcycle on longer distances, but ride my bike to work most the time.  Or my vehicle that's more efficient than a bike....  that thread is here:http://forum.mrmoneymustache.com/share-your-badassity/1-600-mpge/

I'm willing to sell the motorcycle, but wife isn't so it stays for now.  (Given to me not working, fixed it up, so no big loss to keep it.)

So that leaves the Camry.  Anything better to use?  We have two kids in car seats.  Wife's job requires driving with both kids.  Might require 3 car seats later on.  It has room, but more storage would be nice.  I want better mpg, not worse. Currently owe $8,000, it was purchased pre MMM and with 40,000 miles.  Now has close to 80,000.  I don't want to spend, but don't want a high mileage car like the corolla either.


Can a prius be found in good shape for similar value?  It has space and mpg.  Or are there other options?  I'm having trouble finding them.

[DeltaBond]

What is it that you like about Prius?

[k-vette]

Mpg, large rear door, fits car seats, and Toyota reliability. Price not sure....

[alsoknownasDean]

Would a hybrid Camry (or similar?) do the job as well?

How many miles do you do a year? City or rural? If you're doing big miles, especially in traffic, by all means buy a Prius. A mate of mine has one and it's a surprise how spacious the things are.

What about the finance on it? What's its interest rate? Are you in a position to wipe out the debt?

[k-vette]

The cost of the hybrid Camry doesn't pencil for me.  It will never save enough to cover the premium cost.  Like the idea though.

Somewhat rural driving that puts the miles on.  15-20k per year.   I think that's going down.

3.99 interest.  Have been putting cash towards investments and mortgage, so can't just pay it off right now.

[alsoknownasDean]

The cost of the hybrid Camry doesn't pencil for me.  It will never save enough to cover the premium cost.  Like the idea though.

Somewhat rural driving that puts the miles on.  15-20k per year.   I think that's going down.

3.99 interest.  Have been putting cash towards investments and mortgage, so can't just pay it off right now.

Hmm, it might be worth hanging on to what you have and building up cash/eliminating debt before replacing it.

Although, if your Camry does 30MPG and a Prius does 50MPG, at 20,000miles a year you're looking at 667 gallons in the Camry vs 400 in the Prius. The difference of 267 gallons at, say, $3 a gallon (it won't remain cheap forever) is $800 a year.

If you can do a straight swap or only contribute a couple grand (cash!) extra, sure it's worth it. If the price difference is significant, maybe it's better sticking with the Camry.

Have you checked out Craigslist to see what the Prius is selling for in your area? That and the Camry (to work out changeover cost)?

[DarinC]

I'd go for the Prius, and after you drive it a bit and confirm you like it, sell the Camry. The only cars in the same class (overall utility) that get as good mileage are newer Prii. I'd also suggest another 4-cylinder car/small pickup (depending on what you need) as a back-up, if you're inclined towards DIY repairs, since those can save enough compared to paying a mechanic to cover the costs of a backup vehicle.