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Will a Hybrid Car Save You Money?
Posted By Ron On March 27, 2012 @ 5:19 AM In Money,Saving Money | Comments Disabled
With the price of gasoline continuing to skyrocket (supply and demand curves are so annoying), many people may consider buying a hybrid car, but there are costs associated with hybrids that aren’t taken into account by many who walk onto the dealer’s lot. To determine the true cost of buying and maintaining a hybrid car, and to assess whether a hybrid car will actually save you money, you must take into account:
The costs of owning a hybrid include the initial price – sticker prices for hybrids are higher than prices of comparable conventional cars – plus a few additional expenses you’ll incur in maintaining your hybrid car.
Hybrid cars contain new, much more expensive technology – and you’ll have to pay for it up front. When buying a hybrid car, expect to pay a “hybrid premium” of $2,500 to $10,000 more for a hybrid than for a comparable gasoline-only vehicle and the more advanced the hybrid’s technology, the higher the initial sticker price will be. In addition to the hybrid premium, there are a few other reasons why hybrids cost more to buy than comparable conventional cars.
As the hybrid market grows and automakers produce hybrids in more styles and at a wider range of price points, the issues above should matter less, and prices should drop … again, that pesky supply and demand thing …
Some hybrid drivers may encounter additional premiums to maintain their cars, though these costs are becoming rarer as hybrids grow in popularity:
To determine whether a hybrid will end up paying for its premium up-front costs:
Divide the number of miles you drive each year by the average fuel economy  you expect from a conventional vehicle then multiply the resulting number by the price per gallon of gasoline.
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