Hybrid Cars Will Save You Money. Really.
We've previously wondered whether or not owning a hybrid car will end up saving you money or costing more than a conventional car in the long run; a lively discussion followed. The study we referenced before found that only Toyota's Prius would save you some cash over a five-year period, so we were interested to find a new study by Los Angeles-based IntelliChoice, that found that all 22 hybrid vehicles on the market will have a lower total cost of ownership than their conventional counterparts over a five year/70,000 mile period. Wow. The report factors in the costs of financing, fuel, insurance, state taxes and license fees, repairs, maintenance and depreciation, and finds that the Prius is still the best bet, saving consumers $13,408 over a similar-size sedan that is not a hybrid (something like conventional versions of Toyota's Camry, Honda's Accord or Ford's Taurus). In addition to lower fuel costs and both tax and insurance credits, the big difference, according to the study, is that hybrids retain their value better than conventional vehicles, to the tune of between five and ten percent. While this doesn't mean that we should all hop off our bikes or ditch our old rides in favor of a hybrid, it's sure interesting to see increasing financial justification for investing in a hybrid. ::IntelliChoice via ::LA Times and ::AutoblogGreen