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Does it seem like the extra sticker price on a hybrid pretty much wipes out any annual gas $ savings?
I recently looked at a Ford Escape hybrid versus the regular Escape and the sticker price on the hybrid superceded the estimated yearly savings in fuel price. So what's the point? If we are supposed to make the shift to save money, how does this help?
Answer:
Please view my source for the information you are looking for. This is a test done by Consumer Reports that talks about the misconception of big savings when purchasing a hybrid.
"To find the answer, Consumer Reports looked at all of the major ownership costs and financial benefits of six different hybrid vehicles -- a mix of sedans and sport-utility vehicles (SUVs).
In Consumer Reports' analysis, none of the six hybrids tested recovered its price premium in the first five years and 75,000 miles of ownership. In fact, the extra ownership costs over five years for those vehicles ranged from $3,700 to $13,300.
Even when the analysis was extended to a period of 10 years and 150,000 miles, it was not possible to recover the price premium for a hybrid vehicle."
Another problem to consider is what if your hybrid breaks? How many mechanics do you know have the capabilities to fix or troubleshoot a battery pack or other hybrid component? Given the probability of a part breaking within 5 years is low, but it should be taken into consideration.
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