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.
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