So, Hybrids Do Save You Money. Who Knew?

January 9th, 2007 | by Molly's Brother |

Though not an owner of a hybrid, I toy with purchasing one from time-to-time. Okay, I don’t toy with the idea. I merely think about buying them. I let the thought float through my mind with a far-off gaze, and with a smile, I sigh as I realize that a car purchase isn’t on the to-do list. Hell, it’s not anywhere in there vicinity of my to-do list. Plus, I have long heard that they don’t actually end up saving you money.

Yesterday’s Los Angeles Times reports on an Intellichoice.com study which supports the claim that hybrids do save owners money–if you take in the total cost of car ownership (purchase, repairs, gas, insurance, tax credits, etc). Earlier studies, the article states, found that hybrids did not save owners enough money when factoring the cost of gas alone.

In the paper, a graph accompanies the article compares the five year operating costs between the hybrid model and a similar sized non-hybrid model from the same manufacturer. The most striking difference came with the Toyota Prius. The operating costs over five years of a Toyota non-hybrid was $33,305. Over the same five-year period, a Prius only costs $19,897 to operate. That’s a savings of $13,408. What you could do with those savings!

I wish you could find this information on the LA Times site, but since you can’t I’ll post the information here. Below is the amount of money hybrid owners save vs. owning a non-hyrbid car of the same class.

  • Toyota Prius owners save $13,408
  • Civic Hybrid owners save $8,300
  • Toyota Highlander Hybrid 2WD owners save $10,803>
  • Lexus RX 400h 2WD owners save $12,649
  • Ford Escape Hybrid owners save $$7,173 (2WD) or $6,143 (4WD)
  • Honda Accord Hybrid owners save $6,097
  • Honda Insight owners save $3,969
  • Chevrolet Silverado LT Hybrid 2WD owners save $3,463
  • GMC Sierra SLE Hybrid 2WD owners save $3,332

I suggest that you read the LA Times article (”Hybrid autos save money in the long run, study finds,” by John O’Dell) for the details on the specific methodology and variables Intellichoice.com used for the study. Fascinating article. Fascinating information.

Bottom line: It looks like Hybrids do end up saving you money in the long-run.

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