Quote:
Originally Posted by Ecky
I think a hybrid is worth it, especially if it's a new car. Since they're all basically disposable anyway, better to get one with lower operating and total cost of ownership.
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The funny thing is I just ran the numbers and they favor the hybrid, but are also a wash for the first 5 years.
I calculated I drove an average of 17,500 miles per year in the Avalon since I got it.
Say the Avalon gets totaled tomorrow and they hand me a check of $10,000 which becomes the downpayment.
The non-hybrid Corolla has a combined fuel mileage of 33mpg and a base MSRP of $20,425. So using an auto loan calculator, a 5 year loan would be $213 per month and at $4.5 per gallon average for the next 5 years (it's only $3.26 right now) it becomes $199 per month in fuel, or $412 total before maintenance, yearly tags and insurance.
The Hybrid Corolla has a combined fuel mileage of 52mpg and a base MSRP of $24,050. With the same $10,000 downpayment a 5 year loan would be $286 per month, but the fuel would be $126, so again $412 total per month, the same as the non-hybrid.
Of course with fuel being lower than $4.50 per gallon, I'd actually be paying more for the hybrid Corolla for the first 5 years or so.
Where'd I make it back is by keeping it more than 5 years the fuel mileage eventually catches up to the total price. Also, if I go to sell it or if it gets totaled the hybrid will be worth more.