Electric Vehicle Forums - 1st year savings

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1st year savings

Would it seem strange to take a cake out to my TCH and sing 'Happy Birthday' to it?

Just for comparison, here's what I've saved so far:
10,000 miles, average 38.5 MPG, means 260 gallons of gas. Interestingly, while the TCH directly replaces an old beater Dodge Neon, it effectively replaces a 2000 Honda Odessey, which gets about 19 MPG, which would add up to 526 gallons of gas, saving about 266 gallons of gas, or about $800 at $3/gallon. (Gas is now $3.40/gallon in Tacoma)

Well that's rather cool. The way I see it, if my hybrid cost was $1600, that's two years to break even; far shorter than expected. While my hair is a big mess, I'm still no Einstein, so if I've done this wrong, please help. Otherwise, I'm not seeing the 5, 7, or 10 year break-even I've read about.

Also, that means I've stopped for fuel 17 times or an average of once every three weeks. That's really cool.

Re: 1st year savings

I'm at 9 months, but based on my calculations, I will break even at one year. This is because I received $2600 tax credit and will end up saving over $1000 on gas.

:D

Re: 1st year savings

How did you come up with the $1600 number ?

Re: 1st year savings

Quote:

Originally Posted by Freeze (Post 125961)

The way I see it, if my hybrid cost was $1600, that's two years to break even; far shorter than expected. While my hair is a big mess, I'm still no Einstein, so if I've done this wrong, please help. Otherwise, I'm not seeing the 5, 7, or 10 year break-even I've read about.

Also, that means I've stopped for fuel 17 times or an average of once every three weeks. That's really cool.

Most comparisons are made to the comparable non-hybrid version of the car, not the previous car you owned.

It's easy to show that a hybrid and a non-hybrid civic are both huge savings compared to a Dodge truck, but a Highlander hybrid vs non-hybrid may take 7-70 years.

Re: 1st year savings

I've owned my Camry Hybrid for 3 1/2 months and have put on about 5300 miles.

My previous Camry (1998) got 24 miles to the gallon, my Hybrid gets an average of 36 (32-33 in Feb, but now getting 38-40 now that the weather has gotten warmer).

5300 miles @ 36 mpg = 147 gallons of fuel. (at an average of $3/gal)= $441
5300 miles @ 24 mpg = 221 gallons of fuel. (at an average of $3/gal)= $663

So far the Hybrid model has saved me roughly $220 on gas after 3 1/2 months of ownership. I expect that amount to go up now that the mileage has gotten better due to the warmer weather and gas has gone up significantly. (Currently $3.49)

If gas stays at $3.50/gallon, and I drive for a year and average 36mpg:

16,000 miles @ 36 mpg = 444 gallons of fuel. (at $3.50/gal) = $1555
16,000 miles @ 24 mpg = 666 gallons of fuel. (at $3.50/gal) = $2333

That's a $777 savings over a year. I plan on keeping my car for 6 years... assuming that gas goes up $0.20 per year (optimistic, I know), that's a 6 year savings of $5331.

If you add in a $1300 tax break in the first year, that's a total savings of $6631. Assuming that no hybrid component should need to be replaced in the 6 years (8 year hybrid warranty), the maintanance costs should be similar to my 1998's.

That means that I'll save $6,631 (approximate) over 6 years by switching to a Hybrid model.

Now, my math is approximate at best, and it estimates the cost of fuel. (Who knows, the price of fuel may come down, which means the savings would decrease). You also have to take into account the fact that the Hybrid cost more than a normal Camry.

Re: 1st year savings

Everyone,

Dont forget about all the other stuff you might buy at a gas station besides gas (ie concessions...). Now that you fillup half as often, I bet you are just there for gas and not spending as much on other stuff. :)

Re: 1st year savings

Let me see my case: I use my car for commuting and drove 21k in 1 year. My average is 39mpg, since I sit in traffic most of the time. My previous car was Honda Accord V6 and that was giving me about 22 mpg. So TCH =539 gal, Honda= 1000 gal for saving of about 461 gallons. At the average price of about $2.8 for the past year that would come out to about $1290/ a year, $2600 tax credit not included. Come to think of it, if the car lasted 10 years I could get some brand new subcompact car for free and in 20 years I could get another TCH from savings on gas alone, assuming price of gas won't go up anymore. If the gas will go up in price, the savings will just be higher. Both cars are pretty comparable in performance, size etc. Of course that also doesn't include lower CO2 emissions or less oil imported. Driving NY to Fla with one gas stop is priceless.

Re: 1st year savings

Quote:

Originally Posted by worthywads (Post 125994)

Agree, otherwise why not compare it to a M1 tank.

Re: 1st year savings

Quote:

Originally Posted by worthywads (Post 125994)

The problem with all those comparisons is, it depends where you drive: If you drive mostly on the empty highways then I agree, the difference is small and probably not worth it. On the other hand if you drive in very congested metro areas like I do, where the engine is idling most of the time and on the good day you're happy to average 25MPH, then the numbers look totally different and make much more sense. Just like you shouldn't buy Porsche Carrera to drive offroad, you shouldn't buy hybrid to drive on empty highways, where electric drive system is rarely used and benefits are very small. I drove both Highlanders, hybrid and standard and in my area with my type of driving the 7-70 years is total BS, 3-5 years would be more likely for me.