Hey guys, would like to get some input regarding a car purchase.
My mom is thinking about getting a new car and was initially interested in a corolla but after looking at a Prius she is attracted to superior gas mileage of that car. She currently drives an 2004 5 Series BMW which is complete crap on gas and want a more fuel economical car for daily use.
Anyhow the breakdown of the cars is like this.
The corolla is available on a 7 Year 0% financing which will cost at the end of the day $26500 for the model she likes. (corollas combined fuel economy is 7.4L/100km)
The Prius would be around $33000 and since its not 0% she'd probably go for the 3 year term. (Prius's combined fuel economy is 4.9L/100km)
Gas wise the difference i calculated over the next 8 years assuming gas prices hold at $1.6/L (200,000km driving an avg of 25K/ year) would be $8000.
Considering everything and the maintenance cost of the two cars which might not be that much different but Prius would probably need more care due to the extra batteries/electric motors and i think the prius will hold its value a little better......
Which is a better deal??
We dont have much experience with Toyotas especially hybrids but both models seem to be pretty bullet proof. Any and all input would be highly appreciated.