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Most cost of ownership calculators do not factor in the purchase price of the vehicle, only depreciation. Why? Because whatever value is left in the asset can be recovered when you sell it. Counting depreciation, repairs, insurance, fuel etc, Edmunds says my Cavalier wlil cost an average of $5K a year to run. This estimate is high for me because I only pay $500/yr to insure it, I do my own repairs, and I paid $3299 for it, so even if it loses all its value, depreciation is negligible. Even counting things like stereo upgrades, window tint and ecomods, it's still below Edmund's estimate. I'd expect it to be dead on for your average schmoe who just buys the car to commute in, takes it in for service or when he hears an unusual noise.
This article is far from groundbreaking. Hybrids save gas, not money. Even today's compacts with lackluster economy ratings can keep far more money in your wallet than a Prius.
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