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Thinking of a Hybrid Vehicle; Why?

With gas prices the way they are, I think a lot of people are starting to think about the alternate options available. Sadly, there isn't much choice - Drive or Not.  I need to drive or I'm not getting to work.  But after putting $65 into the car today and things are only going to get worse, I figured that it might be time to check out some cars with better mileage ratings.  Now, I drive an SUV - a Hyundai Santa Fe, 4cyl, manual. We need the extra space it provides to load the kids and all the stuff that goes along with them when we go places. A quick search on Google brought me to this ultra cool site: www.FuelEconomy.gov that allows you to find the best rated cars, trucks, and SUVs on the market today and even compare them side by side with any other vehicle of your choice. 

According to this site, the best SUV is a Ford Escape with the Hybrid engine. It's rated at 30 MPG compared to just 20 for the Santa Fe.  All that works out to $800 a year less in gas.  Sounds really nice, doesn't it?  There's a catch; the car costs $33,000 compared to just $26,000 for the Hyundai.  That's a total of $7,000 more! Lets see, the extra cost divided by the savings in gas and you get 8.75 years.  You pay more upfront and then have to drive the car for 8.75 years before you make up the extra cost. 

Instead of paying an extra $7,000 I could put that money towards gas and I would get an extra 2.86 years of gas paid for.  So, I pay more for the hybrid and it takes 8.75 years to make up the extra price paid on gas, or I pay less and take the money saved and get 2.86 years of free gas. Confused

Published Saturday, March 29, 2008 10:43 PM by Mike Temporale
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David T. said:

Personally, I am getting ready to move. From a little more than 16mi to work down to just under 5. That will definitely help on the gasoline bill. I am a real believer in living close to work, I am only as far away as I am now because of a temporary living situation.
March 31, 2008 12:44 PM
 

MrGTI said:

There was an article in the Toronto Star (the article in the paper was better than the online version: http://www.wheels.ca/article/218938) that showed the cost differance between the gas and hybrid versions of the same car. To sum it up, a hybrid ends up costing you a few hundred dollars more. I'll stick with a normal gas car for now.
April 7, 2008 12:43 PM
 

John Freiman said:

The primary reason to switch to a hybrid vehicle at this point is not to save money.

It is to use the carpool lane and more importantly save the planet of harmful Co2 emmissions.
April 8, 2008 12:09 PM
 

Dan H said:

Also, the resale value on a hybrid in a few years will far out-weigh the $7000 difference at the dealership. In a few years when gas is $5-7 a gallon, you'll have people begging to buy ur hybrid because the car companies will still not be producing enough to keep up with demand. You'll probably make that difference back at sale time.
Cheers
April 14, 2008 2:27 PM
 

MrGTI said:

Anyone got a better, Canadian website for fuel economy? That site is a US one, and it's sloooow.
May 27, 2008 1:50 PM

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