This Tool Will Tell You How Soon Different Hybrid Cars Will Pay Off.
Hybrid cars are good for the environment, and if you spend a lot on gas, they’re also great for saving money. But cars aren’t cheap, and hybrid versions are usually a little more expensive. This tool tells you how long it takes to pay off a range of hybrid vehicles.
The EPA has an online tool that analyzes the fuel economy of various hybrid vehicles. Select a make and model and the tool will give you a breakdown of how much you can expect to save, next to a comparable non-hybrid model. He then gives you a rough estimate of the payback period.
The Buick Lacrosse, Buick Regal and Lincoln MKZ hybrids had zero payback periods. Here are the top five cars with the shortest periods:
The EPA based their numbers on the following estimates, but you have the option to customize those estimates:
- $ 2.66 per gallon of regular fuel
- $ 3.05 for premium fuel
- 15,000 miles a year; 55% city, 45% highway
Of course, there are other factors to consider, such as insurance, maintenance, and resale value. They note that this is not taken into account simply because these factors can vary widely. So keep in mind – these are only approximate figures.
To test the tool yourself, follow the link below.
Can a hybrid save me money? | FuelEconomy.gov