Hybrid cars – is it worth the extra costs?

Is there $ 22,000 extra around to get out and buy a Toyota Prius? This is the cost of the basic model in the new year. This is not a royal ransom, but it's not cheap either. So you will have to ask him if a hybrid car really is worth the cost.

You have to do some math here.

Suppose your hybrid car (even Prius or something else) saves you around $ 250 a year in fuel costs for better mileage. It's not unreasonable to guess if you drive 15,000 miles a year and gas costs go up for $ 2.

And we say that the cost of the hybrid is about $ 3,000 more than a comparable automobile non-hybrid sedan.

The simple section gives you the opportunity to see if you really save money. Share the $ 3,000 price difference for $ 250, which saves you every year to get the number of years before you save money. In this example, twelve years.

Yes, you have to save more than $ 250 a year for more than a decade to compensate for the price difference when purchasing a hybrid. Most people do not keep wagons for a long time, so investing in hybrids never pays.

But what if the gas is ridiculously expensive? Let's say it's going to go back for almost five dollars, which is likely to happen. Now let's do math again …

We have to find the same $ 3,000 price difference before actually saving money. But our gas savings are probably closer to $ 625, as gas is two and a half times more expensive in this scenario. The result?

You have to drive your hybrid for almost five years before you start saving money. And people generally do not keep the cars for so long.

Thus, based on price differentials and petrol costs, hybrids generally do not save most buyers' money. But not the whole story.

Intellichoice's 2006 study calculates the cost savings of hybrids based on the total cost of ownership of vehicles. This meant that it included depreciation, financing costs, fuel, repair, maintenance and fees. There are several facts about hybrids:

  • Spend more than non-hybrids [5] Better value in five years
  • Higher insurance costs
  • Save the gas
  • When added, they showed that hybrids really have lower total cost of ownership than non-hybrids. (The $ 2,000 federal clean fuel deduction no longer exists, so it's not worth thinking.)

    So you save a hybrid money? Or else to ask whether it is worth the extra costs? That can be definite. If you look at gas pump savings alone, probably not. But you can reasonably justify purchasing a hybrid car if you take into account the total cost of ownership over five years. The choice is up to you. Now you know how to calculate the costs and savings of hybrid cars.

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