Which Hybrids save the most money
By Susan Wilson
Well, it all depends. Are you talking with or without incentives? Depending on your answer to the incentive question, the answer to the Hybrid question will change.
As reported by Christine Park at ABC affiliate KFSN in Fresno, CA, a recent Consumer Report Survey showed which hybrids were worth the extra money charged for hybrids and which were not.
Consumer Reports’ Rik Paul explained, “We compared several factors, including depreciation, repairs and maintenance, and fuel costs, based on 4 dollars a gallon and driving 12,000 miles a year.”
After taking into account the factors mentioned, several hybrids proved to be good investments and a few did not.
In the positive category are the Toyota Prius, Toyota Camry Hybrid, Chevy Tahoe, and Saturn Vue Greenline Hybrid. Which ones come out on top, depends on whether tax incentives are still available.
Toyota incentives on the Prius and Camry Hybrid have expired. Honda’s tax incentive for the Civic Hybrid (currently only $500) will expire soon. In spite of the expired tax incentives the Prius (44 mpg overall) still saves about $2,000 over 5 years and the Camry Hybrid (34 mpg overall) saves $4,250.
The Chevy Tahoe saves $1,500 over the 5 year period without the tax incentive and $3,700 with the tax incentive. Similarly, the Saturn Vue Greenline Hybrid saves $3,000 with no incentive and $4,500 over 5 years with the incentive.
The Nissan Altima hybrid will only save you money if you are able to take the $2,000 tax incentive. Even then the Nissan Altima will only save you $1,600. Without the incentive, the Altima hybrid winds up not being a cost effective buy.
Other hybrids that showed clear losses were the Toyota Highlander Hybrid with a loss of $1,250 and the Lexus GS with a loss of $5,500 over 5 years. Ouch!
As always, which one you buy depends on how much you can afford to pay for a vehicle, what you need in a vehicle, and how much you can afford to pay to fill your vehicle. Although the Chevy Tahoe and Saturn Vue hybrids show the most bang for the initial buck, these cars still require more gallons to fill the tank than either of the Toyota hybrids.
For example, if we compare two of the winners, the Chevy Tahoe Hybrid and the Toyota Prius, it is easy to see why someone might choose to pay a higher initial price with the Tahoe or to accept a smaller savings over 5 years with the Prius. The Chevy Tahoe Hybrid initial cost is between $51,405 (2WD) and $54,210 (4WD), versus the Toyota Prius at $24,000. The Tahoe requires 26 gallons to fill the tank and the Prius 11.9 gallons. Of course, the Tahoe will seat 8 and can easily tow the family boat or camper with its 8 cylinder engine, while the Prius holds 5 and has a 4 cylinder engine.
If you want a hybrid that will actually save you money, you have a choice of Toyota Prius, Toyota Camry Hybrid, Chevy Tahoe Hybrid and the Saturn Vue Greenline. For a short time, the Nissan Altima hybrid will save you a bit of money, but not as much as the other cars.
Personally, I love my Toyota Prius, and my sister loves her Chevy Tahoe. I make short trips into town and home. My sister drives carpools and totes multiple kids to extra curricular activities. We need different vehicles. This past weekend, I drove 4 1/2 hours in my Prius to take care of her children while she and her husband attended a wedding 7 hours from their home. Once I arrived, I handed them my keys for their trip and used the Tahoe for the kids. They saved at least $100 in gas, and I saved my sanity with the children.
via ABC
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