Hybrid Sedans Take At Least 6 Years to Pay Off
There are too many variables to answer that question simply, outnumbered only by the methods of determining the answer.
Cars.com's Kicking Tires blog takes the most direct approach when it comes to fuel savings.
In an effort to make comparisons as fair as possible, Kicking Tires put each hybrid up against its non-hybrid counterpart with equipment as similar as possible.
Automakers go to great lengths to make such comparison shopping difficult by eliminating availability of the exact same array of options and features on both models.
The comparison was made assuming a gas price of $3.67 per gallon - the current national average. If prices are higher in your area - or you expect a significant rise in prices during ownership of the vehicle - the hybrid's payoff may come considerably sooner. This would also vary quite a bit depending upon how many miles you drive annually.
Which hybrid is the best deal compared to its non-hybrid counterpart?
The Kia Optima and Toyota Camry win this one with six years before the higher initial cost is justified in fuel savings. The Ford Fusion comes in at eight years while the Hyundai Sonata (which shares its platform with the Optima) requires ten years.
They also threw in the diesel version of the Volkswagen Passat for comparison, with its 10-year payoff.
These numbers do not take into account things like re-sale value. A numbers-based comparison also cannot account for the intrinsic value you might, or might not, get from owning the hybrid.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
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