Some hybrid cars will make up for their premium cost because of higher gas prices and tax credits from the U.S. government on the more fuel efficient vehicles, a study released Tuesday shows.
We in the big time now, mon!
I'm not sure where they get the 6-year-payback on the HCH2. Are they counting actual city mileage?
Hybrids: '06 Civic Hybrid Magnetic Pearl w/Navi (as of July 1, 2006)
Posts: 1,124
Re: CNN says Hybrids will pay for themselves!
I bet the HCH2 6-year-payback is based on the comparison of the Civic LX with the HCH2 (rather than the EX). That makes the miles needed for break-even go up considerably.
The HCH2 is really somewhere between the LX and the EX in features, so it's difficult to quibble, although for me, if I did not get the HCH2, it WOULD have been the EX.
It's good to see some sensible reporting on this topic, though.
Steve
STOP terrorism - Drive a HYBRID
Vehicles:
350 miles a week ------------ 2006 HCH II, Magnetic Pearl, w/NAVI (born on May 25, 2006)
350 miles a month ---------- 2003 Mazda Tribute ES-V6
350 miles a year (for now) - 1986 Mercedes 560SL
Extra credit for anyone who uses the Edmunds' true market value' calculator to estimate annual depreciation for hybrids purchased new (in 2005, 2004, etc.). Plug those values into Edmunds' 'true cost of ownership' spreasheets, replacing the totally ficticious values they (for some unknown reason) use. Then you will get an even better estimate of what hybrids really cost. Not perfect to be sure, but more accurate than anything now being requoted by the media experts.
More extra credit for anyone who sends email to Edmunds asking them why they have botched the TCO, given that their highly touted TMV numbers are available. I reckon they'll just ignore mine because it is only one. You know, vox clamantis in deserto, that sort of thing.
Studies like this continue to highlight one thing: the cost of fuel, even at $3/gal, is still a small part of owning and operating a vehicle.
Consider that I paid about $29,500 total for my HAH. That would buy about 9,800 gallons of gas at $3/gal, or enough fuel to drive the car for 314,000 miles based on my current 32 mpg average fuel economy. It will take me nearly 21 years to drive that the car that far.
Currently, the car is being driven about 1300 miles per month, which means that my monthly fuel bill is $122.
Meanwhile, my insurance is about $150/month and my car payment is over $500/month. Even if the car was paid off depreciation has to be factored in.
If I didn't drive the car at all, I'd still be paying over $650/month for it. Which I guess goes to show that for most people, unless they drive an extremely high number of miles or an extremely inefficient vehicle, the choice of car they drive is not an economic one. If saving money is the only object then you can save a lot more money up-front by buying a base model Chevy Aveo or a used car than you'll ever save by buying a hybrid.
But ... most people, and I suspect everyone on this board, don't want to drive an Aveo. Most people drive what they want to drive because, ultimately, there is no payback on a car, and especially not a new car; there is only the cost of ownership.
I bought my Accord Hybrid because it's a blast to drive AND considering its performance it has very good fuel economy and low emissions. I could have saved money by buying a 4-cylinder Accord EX-L and maybe I wouldn't miss the blistering acceleration of the hybrid. Then again ...to me the HAH is worth the money I paid for it and that's really what counts in the end.
This is wierd. I tried to compare the 1500 cc Prius to the 1500 cc Scion xB:
1) Using their 'pricing' tool with all of the Scion xB options: $17,680
2) Using the True Cost to Own tool: $16,825
Now a standard Prius comes with a lot of stuff not found on a base Scion xB. To come even close, you pretty much have to include everything. But we're looking at an $855 difference up front.
Apparently there is still a lot of 'game' in the system. Too bad the hybrid owners association doesn't consider such confusing claims something that needs to be investigated.
...If saving money is the only object then you can save a lot more money up-front by buying a base model Chevy Aveo or a used car than you'll ever save by buying a hybrid.
But ... most people, and I suspect everyone on this board, don't want to drive an Aveo.
Absolutely. If economics are the bottom line, a hybrid is never the best choice. I believe the Insight was the cheapest hybrid at $19,000. Comapre that to a $11,000 Echo (or equivalent). The Insight could get 100 MPG and you'd still loose out on total cost to own. The benefit of a hybrid is you get small economy car fuel economy without having to drive a small economy car.
Absolutely. If economics are the bottom line, a hybrid is never the best choice. I believe the Insight was the cheapest hybrid at $19,000. Comapre that to a $11,000 Echo (or equivalent). The Insight could get 100 MPG and you'd still loose out on total cost to own. The benefit of a hybrid is you get small economy car fuel economy without having to drive a small economy car.
Exactly. There's a FEH owner who has the line, space of an SUV, Fuel Economy of a compact as his signature, which I think is rather apt.
If all people cared about was the money and savings, no one would have ever bought a Cadilac, a luxury SUV, a Lincoln, or a Lexus, or any dozens of brands out there, let along luxury models.
CNN says Hybrids will pay for themselves!
Would-be hypermiler
Re: CNN says Hybrids will pay for themselves!
