Some hybrids becoming sensible purchases

[gordholio]

Some hybrids becoming sensible purchases, Edmunds.com says

Santa Monica, California - A new study by Edmunds.com shows that despite higher sales prices, some hybrids - though not all - can make good financial sense. For the latest installment of its Fuel Economy Guide, Edmunds.com compared the sale price and annual gas expenses of hybrid vehicles to their non-hybrid counterparts.

"Our study revealed that high gas prices and generous tax credits now offset the high sales prices of some hybrids, assuming owners keep their hybrids for a few years," says Alex Rosten, Manager, Pricing and Market Analysis.

The study indicates that, assuming the vehicle is driven 24,140 km (15,000 miles) each year, the higher purchase price is completely recovered for the Ford Escape Hybrid and Toyota Prius within three years of ownership, while buyers of the Honda Civic Hybrid, Saturn Vue Green Line and Toyota Camry Hybrid reach break-even within six years. The study used U.S. pricing and tax credits on hybrid vehicles, and assumed a fuel cost of US$3.00 per gallon.

The study found that at 24,140 km (15,000 miles) driven per year, it would take 5.7 years to break even on the Saturn Vue Green Line; 2.9 for Ford Escape Hybrid; 2.1 for Toyota Prius; 11.3 for Honda Accord Hybrid; and 15.5 for Toyota Highlander Hybrid.

At 40,233 km (25,000 miles) per year, it would take 3.4 years for the Saturn Vue Green Line, 1.7 for the Ford Escape Hybrid, 1.2 for the Toyota Prius, 6.8 for the Honda Accord Hybrid, and 9.3 for the Toyota Highlander Hybrid.

[B0000rt]

These estimates assume gas prices are stable?

I'm sure those estimates would be MUCH shorter if they took into account the current rate of inflation on gas :D

[Elektronauts]

3 to 6 years to break even?

I still say the hybrid is a bad buy. You're better off getting the regualar version and take the $6-8k premium and invest it. Or hedge higher gas prices by investing in some petroleum stocks/mutual funds.

[Bazooka Joe]

I did the math not too long ago on this. A hybrid civic bought in ontario ($2000 rebate) when compared to an automatic civic LX (which makes them similarly equipped except the hybrid has 6 speakers vs. 4) will pay itself off in 95,868kms at $1.10/l. Or its 131,818kms at $0.80/l. You could easily do 131,000k in 6 years IMO, and it's unlikely that the 6 year average price will be $0.80.

Of course this comparison only works if you would have bought an automatic with AC, keyless entry, heated mirrors, and the rest of the bells and whistles. Hyrbids don't come in a standard.

Edit: silly spelling mistake

[airodus]

The Camry hybrid is a good deal. At 32k MSRP, and great standard options, it is a much better alternative to the Prius.

[chdude3]

How long do the batteries last? I thought I read that it was $8000US to replace them in a Prius.

[Bazooka Joe]

How long do the batteries last? I thought I read that it was $8000US to replace them in a Prius.

I've only read anecdotal evidence (I believe it was canadiandriver forums) that the batteries in a prius have never been replaced out of warranty in Canada other than for accidents.

A quick google came up with this:

http://hybridcars.about.com/od/hybridcarfaq/f/batterycost.htm

From above link: Toyota spokesperson Mona Richard said, "The service parts price for a new battery is $3000, but we have not had to sell a battery yet."

There was a problem previously with corrosion on the terminals making people think the batteries were NFG after 5ish years. The problem is becoming more known, and manufacturers are taking steps to reduce terminal corrosion, and educate their service people to look and repair it (cheap and quick to do).

As for how long they last, I believe they're designed to last 15+ years (life of the car). The charge-discharge cycle is computer controlled, so they will last many times longer than ordinary rechargable batteries.

[Canuck_2005]

Just because no customer has had to "Purchase a new battery" does not mean they havent been replacing them for free. Becarefull on the wording.


Take this for an example, The battery on a Honda Insight cost's $3000, But you just cant replace the battery, you have to replace 2 corresponding computer boards at 1200-1500 each, Not only that a special removal tool is needed ONLY available through honda, making a repair worth probably over $6000.

The car MFG are playing nice right now, but when there is 100,000 hybrids on the road dont expect the mfg to good will batteries at such a loss forever, facter that extra cost into the maintenance schedual of a hybrid and you will see, THERE IS NO SAVINGS


http://www.hondasucks.ca/best/badinsight.jpg

[BBQPorkBun]

Some hybrids becoming sensible purchases, Edmunds.com says

Santa Monica, California - A new study by Edmunds.com shows that despite higher sales prices, some hybrids - though not all - can make good financial sense. For the latest installment of its Fuel Economy Guide, Edmunds.com compared the sale price and annual gas expenses of hybrid vehicles to their non-hybrid counterparts.

"Our study revealed that high gas prices and generous tax credits now offset the high sales prices of some hybrids, assuming owners keep their hybrids for a few years," says Alex Rosten, Manager, Pricing and Market Analysis.

The study indicates that, assuming the vehicle is driven 24,140 km (15,000 miles) each year, the higher purchase price is completely recovered for the Ford Escape Hybrid and Toyota Prius within three years of ownership, while buyers of the Honda Civic Hybrid, Saturn Vue Green Line and Toyota Camry Hybrid reach break-even within six years. The study used U.S. pricing and tax credits on hybrid vehicles, and assumed a fuel cost of US$3.00 per gallon.

The study found that at 24,140 km (15,000 miles) driven per year, it would take 5.7 years to break even on the Saturn Vue Green Line; 2.9 for Ford Escape Hybrid; 2.1 for Toyota Prius; 11.3 for Honda Accord Hybrid; and 15.5 for Toyota Highlander Hybrid.

At 40,233 km (25,000 miles) per year, it would take 3.4 years for the Saturn Vue Green Line, 1.7 for the Ford Escape Hybrid, 1.2 for the Toyota Prius, 6.8 for the Honda Accord Hybrid, and 9.3 for the Toyota Highlander Hybrid.

Still would buy gas engine, waiting for non gas technology to make leaps within the next few years, this is just a transition period.

[mlc2000]

The Camry hybrid is a good deal. At 32k MSRP, and great standard options, it is a much better alternative to the Prius.

Now you just have to prove you are a senior citizen,
because those are the only people buying Camry's. :cheesygri :cheesygri

[Evil Techie]

Now you just have to prove you are a senior citizen,
because those are the only people buying Camry's. :cheesygri :cheesygri


the new camry has a 10 day delivery backup in almost the whole north america

it is so popular and so many people are getting it now

some hybrids such as Camry hybrid, are sensible purchases
a crappy hybrid like insight on the other hand, will never be a sensible purchase no matter how much the gas cost

so lets just leave the crappy insight out of this sensible discussion

[Desalex]

Toyota is researching updating their hybrids to allow the capability to plug them in overnight, thereby giving you about 40 miles full-electric range.

However, hybrids are boring conveyances that remove the driver from the art of driving.

[Anessa]

Diesels...those are sensible purchases.