I’m using Toyota and Lexus specifically because they are very similar vehicles. You buy a Lexus version of the same vehicle and you get more noise reducing materials and a measurably quieter ride, among other niceties. That also can happen when you step up from a Corolla to a Camry, definitely from a Yaris to a Camry.
I never intended to make an apples to apples comparison. I’m not even really making much of a commentary on how much money people have to spend.
To own a 2010 Yaris someone had to buy that as a brand new car off the lot. The value proposition of that sort of new car purchase is a difficult sell because someone on a budget like that isn’t buying a new car typically, and because of how car buying is financed in America.
If a new car buyer is bothered that the 15 year TCO of a Camry is $750 per year ($60/month) higher than a Yaris [1] when considering fuel economy and purchase price spread, that person is likely not going to be buying a new vehicle at all.
The way depreciation curves work there is a cost floor on a reliable transportation and that depreciation curve isn’t favorable to small economy cars. You don’t predominantly see lower income buyers driving Yaris, Mirage, and Chevy Sparks around. Instead you see them driving around in whatever vehicles depreciated the most and had enough new sales volume to be widely available as used vehicles.
Sure, that’s not an apples to apples comparison. But that’s the kind of real comparison that buyers make, in my opinion.
I’m not here to say that the person replied to is wrong for driving and enjoying a Yaris. I’m merely trying to explain why those economy cars have disappeared from the market, as well as talk a little bit about noise reducing materials.
[1] Yes, I did the math on this. The base model purchase price difference was about $8,000, so that’s $533 per year over 15 years of ownership. The mpg difference is 32 versus 26 combined, so over 200,000 miles at $5/gallon average that’s a fuel cost difference of $3233 or $215 per year. We are assuming maintenance and insurance costs are identical.