I'm looking to get a new car... Something better on gas... Anyone know anything I should consider between those choices? The hybrid gives about 45mpg, but costs several grand more... Is it worth it?
Do a quick napkin calculation 5mpg better (40 v 45) Gas = $3 1000m @ 40mpg = $75 1000m @ 45mpg = $66.67 So you save $8.33 per 1000 miles driven. To make up that $2000 you'd need to 240,000 miles. And by then you'd probably have to replace the batteries. At this point hybrid systems really only are worth it on those one ton pickups that bump up the fuel economy from 10 to 14.
In the cost, you have to consider the potential for local, state or federal tax incentives (they seem to change a lot, so check it out). Plus check with your employer, both my current and former employers had incentives for buying a hybrid. Autobytel According to this link, the gas civic gets around 25/36 on mileage, while the hybrid gets 40/45. If you are doing mostly city driving, that's a huge difference. Still a big difference on the highway, but not quite as much. The other question is how long to do you think you will hold onto the car. This is a two fold consideration. On the payback for the cost of the hybrid, if you own the car for 5 years, and especially if you do mostly city driving, you'll probably make your money back, and may decrease your cost. On the other side, I know in the past that hybrid engines didn't have the longevity of a gas engine. Not sure if that is still the case, but if you are the kind that will hold a car for 10 years, you might find yourself having to replace the engine. Using the numbers from that site for mileage, as well as the following assumptions: Gas averages $3 Annual driving is 15k miles, 10k city, 5k highway. For the regular, you would need 539 gallons of gas per year for a total cost of $1616.67. With the hybrid, you'd need a total of 361 gallons of fuel, for a total cost of $1083.33. So a savings of about $530 per year in fuel costs. The more city driving you do, the larger this savings would be and vice versa. Additionally, if our total miles goes up or down the savings with change proportionally.
we did research on this half a year ago when we bought my wife a new car. we did our research: read lots of reports, talked to several friends in the auto industry, did the test drives, etc. the overwhelming consensus from our friends in the industry was hybrids at this point are not worth the cost if you live in the south. the stated mileage for new cars is taken from a controlled environment (inside a factory, car on rollers so no wind resistance, and a/c is not on), so you have to subtract a few miles from the stated mileage. after factoring that in along with the premium cost of hybrids, the savings in tax write-offs and gas savings don't save you more money. now that is in texas. on the coast it's not a bad idea to get a hybrid, especially if you live in a state with a substantial tax incentive to buy one.
I'd be willing to pay about a $500-$800 premium for a new hybrid. Any more than that and the dealer can kiss my ***. So I won't be buying a hybrid any time soon.
