Gas-Saving Moment of the Day: Buy a Hybrid
Were you thinking about a new car anyway? Do you find yourself doing a lot of stop-and-go urban driving? Would the gas savings of a hybrid vehicle save you a good chunk of cash? Maybe it's time to sit down and do the math.
Hybrids are paying for themselves more quickly now than ever before, and the options are getting more diverse. Whereas the Toyota Prius was once more or less the only game in town, the number of vehicles with hybrid versions is growing, and even more are on the way.
For instance, the front-wheel-drive 2008 Ford Escape Hybrid will save you $839 a year over its non-hybrid counterpart, according to fueleconomy.gov. In five years, you’ll save $4,195, assuming the average price of gas remains in the ballpark of $3.94 — not an inconsiderable amount of money. The savings gap grows even wider when you compare a hybrid SUV to a less-fuel-efficient non-hybrid model.
Even if you're not looking to buy a new car for a few more years, it's probably wise to give heavy consideration to a hybrid when you do begin car shopping. If you’re in the market now, the numbers are much more in favor of hybrids than they’ve ever been before.
Related:
More Gas-Saving Moments of the Day (KickingTires)
Best Mileage for Alternative Fuel Vehicles (Cars.com)
More Hybrid/Alternative Fuel News (KickingTires)
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that's only if you can get a hybrid at msrp and lowest trim line - MSRP on the Prius starts at 23K but the dealers in my area start at 28K.
I just purchased a 2007 Ford Explorer Eddie Bauer edition w/ 4,500 miles for $11,000 cash. I drive 7-8,000 miles a year so gas prices are a non-issue for me. I love it when the masses rush out of something - it creates an attractive buying opportunity.
George, you must be in the minority. 7-8000 miles a year is not much. That's a good situation to be in. Most folks aren't that lucky.I happen to have a quad cab truck if you're interested. :)
Similiar to George my neighbor just purchased a one year old Mercury Mountaineer. He said he got it for under 12k as the original owner traded down for better mileage. My neighbor works from home so the cost of gasoline is probably not a factor for him.