Most Hybrids Won't Save You Money on Gas
A study by Investopedia.com found that it can take as long as 21 years to recoup your investment depending on the model you purchase. In many cases, the hybrid version costs several thousand dollars more than the non-hybrid or similar non-hybrid one.
If you do want to save money on gas, a low-cost electric car may be a better option.
The Ford Fusion Hybrid, which only costs $3,200 more than the non-hybrid version, is the only hybrid which allows you to recoup your investment in less than 10 years.
Here is the breakdown for the most popular hybrids:
|Vehicle||Price Difference||Years to Recoup Investment|
|Ford Fusion Hybrid||$3,200||5.6 years|
|Mercury Milan Hybrid||$6,300||13 years|
|Toyota Camry Hybrid||$6,000||15 years|
|Honda Insight||$5,600||16.5 years|
|Honda Civic Hybrid||$8,000||17 years|
|Toyota Prius||$12,605||20 years|
|Nissan Altima Hybrid||$6,000||21 years|
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and Ryde Shopper are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid