With gas prices above $4/gallon right now, many people are rushing to buy a Prius.
The 2008 Toyota Prius gets around 45 miles per gallon on the highway and on local roads - almost twice as much as the average American car (which gets around 24 mpg).
That's a huge difference in gas mileage.
However, gas is only one of the costs of owning a car.
Depreciation, maintenance, repair, and insurance costs included does it make sense to get a Prius? Gas Savings If you currently drive a gas-guzzler, it may make sense to get a Toyota Prius.
However, if you drive a more fuel efficient car, like a small or mid-size sedan, it may make less sense to get a Prius - you will save less gas money.
People who drive bigger cars may find it more to their advantage to drive a fuel-efficient car.
What do You Use Your Car For? Is your car a commuter car or do you actually use it to haul around things and people? If you commute long distances every day in clogged traffic - it definitely makes sense to get a Prius.
However, if you use your car to transport things - and possibly a big family - the Prius might be too small and have too little power for your liking.
How New is your Car? Did you buy your gas-guzzler car two years ago? Depreciation is one of the biggest costs of owning a car - and SUVs have extremely bad resale values right now because everyone is looking to get rid of their SUV.
If so, it may make sense to hold onto your SUV for a while longer - at least until the prices get a bit better.
If you have a really old car - 10+ years old, as long as it's not a SUV, you may also benefit from driving your car into the dirt - because it doesn't depreciate as much.
Do You Really Want It? It basically comes down to this: do you really want to get a Prius? If yes - it's a good buy.
If no - you shouldn't get it.
If you're looking at saving money but have a new SUV, it makes more sense to keep your car for a while longer before you dump it for a Prius.
However, if you have an older car, it definitely makes sense to get a Prius - especially if it does not get good fuel economy.
2008 Toyota Prius Specs * 108 Horsepower (gasoline and electric combined) * 48MPG City / 45MPG Highway * 0-60 in 10 seconds * $21,500 MSRP