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Just One Out of 16 Hybrids Pays Back In Gas Savings
thecarchik writes with this snippet from GreenCarReports:
"One of the criticisms of hybrid cars has historically been that there's no payback, especially given the cheap gasoline prices in the US. The extra money you spend on a hybrid isn't returned in gas savings, say critics. Well, that may be true, especially when regular gasoline is averaging $2.77 a gallon this week. But as we often point out, most people don't buy hybrids for payback — they buy them to make a statement about wanting to drive green. Nevertheless, a Canadian study has now looked at the question of hybrid payback in a country whose gasoline is more expensive than ours (roughly $3.70 per gallon this week), with surprising results. The British Columbia Automobile Association projected the fuel costs of 16 hybrids over five years against their purchase price and financing fees. In a study released in late July, only a single one of the 16 hybrids cost less to buy and run than its gasoline counterpart."
The one car that would save you money, according the study, is the Mercedes S400 Hybrid sedan — and it will only cost you $105,000.
Hence why Americans like to drive cars with 6L v8s and can afford to drive a truck to work everyday.
Is 1563649 a prime number?
Some of us don't care about it being a pure economic benefit play. I make a decent wage and didn't mind subsidizing Toyota's R&D by buying an '08 Camry Hybrid for my wife. But then again, I own a Roadster and have $5K down on a Model S, so I'm not your typical consumer. If you're going to base your decision solely on ROI, wait until us first adopters have thrown money at the problem by buying the cars when they're expensive so others can buy them when the price drops.