Think you will save money with a Toyota Prius? Might as well buy two Chevrolet Aveos!

We all know that the main reason to buy a Prius is to save the planet and be like Al Gore (minus the private jets), not to impress your peers...but seriously, most people have it in their heads that a Prius is a means to save gas money. But how much money will be saved when you consider the Chevy Aveo, recently refreshed with a nice interior and exterior? Bloomberg has a story on it...

Save with a Prius? Instead, buy two Aveos
By Doron Levin
BLOOMBERG NEWS
04/01/2007

The economics of owning a Prius are worth reviewing.

The vehicle, a modest four-door hatchback, gets an average of about 55 miles a gallon in city and highway driving. It will consume about $696 worth of fuel a year at today's average price of $2.55 a gallon. A Toyota Camry, averaging 28 mpg, consumes about $1,366 worth of fuel a year.

The $670 difference gasoline savings on the Prius over the Camry translates into almost a five-year payback on Prius's $3,000 price premium.

Not too bad for those who are convinced that saving gasoline is a critical national priority.

But if you're crunching numbers, a much better deal might be the conventionally powered Chevrolet Aveo.

The Aveo averages about 30 mpg and thus consumes about $1,275 a year worth of gasoline — $579 more than the Prius and $91 less than the Camry. But at a purchase price of about $12,000, it represents a price savings of about $12,000 over the Camry and more over the Prius.

The numbers are irrefutable.

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