My husband looked over the spreadsheet on the kitchen table and asked: “Do you know how much this car actually costs?”
I did not. Not really. I knew our Prius was reliable and got great gas mileage, but putting a real number on 12 years of ownership made me see something I had been ignoring.
Here is what the data says.
Why We Bought a Prius
We drove a Volvo S60 for years until it developed electrical problems in 2013. Repairs cost more than half the car’s value, and we needed something that could fit tall people — both of us are nearly six feet tall.
We tested over 60 models at international car shows that year. No SUVs (I dislike the handling), no vans (pride), reliable and affordable. We narrowed it to three, eliminated a BMW 7 series because it was too expensive, and landed on a Toyota Prius Wagon.
I talked to plenty of cabbies who drove this car professionally. Most had clocked over 160,000 kilometers with only basic transmission service. No battery issues, even in countries with brutal winters. That convinced me.
What We Paid and the Hidden Cost of New Cars
We bought the Prius in early 2014 when it was just 10 months old with only 6,700 kilometers on the odometer. The car retailed new for about $32,000 (including taxes and fees). We paid $25,500.
That first owner lost more than $6,500 in roughly nine months. That is a depreciation of about one Canadian dollar per kilometer — which is why I tell everyone: never buy a new car unless you plan to drive it into the ground over 15 to 30 years.
We drove the Prius back to the Netherlands with us, which cost $8,000 for shipping and another $1,000 for import fees and modifications. All in, we spent close to €22,800 on this car to get it road-legal where we live.
Depreciation: the Biggest Number
The Prius is about to celebrate its 12th year anniversary. It has done roughly 145,300 kilometers and an online assessment puts its current dealer value around €8,500.
So for us, depreciation came to about €14,300 over nearly 12 years — that is roughly €1,191 a year or €0.104 per kilometer based on the driving distance we used for calculations.
But here is what surprised me: had we bought this same car new in the Netherlands, it would have cost €36,000 including taxes and fees. Over our driving pattern, depreciation would have been a staggering €27,500 — more than double what we actually lost.
Taking that used Prius with us to Europe was one of our better financial moves.
Operating Costs Year by Year
I recalculated everything into euros using an average conversion rate of $1.50 CAD per euro, just to keep things consistent across the 12 years. A few notes on the numbers:
- The higher maintenance in 2014 and 2023 included buying four tires each time.
- In 2017 and 2019 we had rear brake issues — our fault, since Prius drivers tend to use the brake pedal less than they should.
Insurance is notably higher in Canada, while the Netherlands charges a steep registration and road tax. It is a country built around bicycles and public transit, after all.
Our insurance stays low thanks to 20 years of no-claim discounts. Younger drivers or those prone to accidents would see very different numbers — statistically, one has an accident roughly every four years.
The Total Picture
Depreciation is the biggest cost by far, followed by fuel, taxes, maintenance and insurance. We have now spent about twice as much operating this car compared to what we originally paid for it (including international shipping).
In total, our Prius has set us back roughly €3,713 per year in combined costs — an average of 11,500 kilometers driven each year. That comes to about €0.32 per kilometer to get around.
Would I Do It Again?
The car is great for its space and practicality. I can fit three-meter-long framing beams in the trunk and still close it. Tall people — up to 2.05 meters — sit comfortably, even on road trips.
It is not particularly pretty, but speed and acceleration are decent in power mode (though fuel economy drops when you press harder). Our current Michelin winter tires and Vredestein all-seasons give much better grip than the stock energy-saver set.
I would absolutely consider buying one again. For now we plan to drive this Prius into the ground — there are more home renovations ahead, and it handles building materials beautifully. After that, we will swap to a fully electric car. Perhaps even a Porsche.
Small expenses add up just like small savings do. Look at your own car’s total cost next time you sit down with the monthly bills — depreciation is always the number nobody sees coming.
Today, check one thing: what year was your last tire change? It takes 30 seconds and tells you more about your vehicle costs than you think.