With gas prices near $4 a gallon again, it’s time to crunch the numbers to see if buying a hybrid will truly save you money. For comparison’s sake, we’ll look at two different hybrids and their sister cars. The Toyota Prius is the top hybrid in terms of recognition and sales so we’ll choose it. Now finding its sister car is a bit tougher. Based on passenger volume the Toyota Matrix would be closest. However, if fuel efficiency is more important, the Corolla is the one to choose. So we’ll compare both. We’ll also check the Ford Fusion since it has both a regular and hybrid model. For pricing, we’ll use the TMV value at www.Edmunds.com and the average price paid at www.TrueCar.com.
Toyota Prius (3) Toyota Matrix S Savings
Edmunds - $25,560 Edmunds - $21,895 $4,065
TrueCar - $26,340 TrueCar - $21,874
Average - $25,950 Average - $21,885
Toyota Prius (3) Toyota Corolla SE Savings
Edmunds - $25,560 Edmunds - $19,736 $6,175
TrueCar - $26,340 TrueCar - $19,814
Average - $25,950 Average - $19,775
Ford Fusion Hybrid Ford Fusion SE Savings
Edmunds - $29,118 Edmunds - $22,956 $6,693
TrueCar - $30,063 TrueCar - $22,840
Average - $29,591 Average - $22,898
All cars were comparably equipped with cloth seats, CD, sunroof, automatic, etc.
The next piece of the puzzle is the cost of gas per year. We’ll use the combined cycle numbers for fuel efficiency, an estimated 15,000 per year and the price of gas at $4 a gallon.
| Combined MPG | Miles per year | Gallons per year | Cost per year | Extra cost per year | |
| Toyota Prius (3) | 50 | 15,000 | 300 | $1,200 | n/a |
| Toyota Matrix S | 22 | 15,000 | 682 | $2,727 | $1,527 |
| Toyota Corolla LE | 29 | 15,000 | 517 | $2,069 | $869 |
| Ford Fusion Hybrid | 39 | 15,000 | 385 | $1,538 | n/a |
| Ford Fusion SE | 26 | 15,000 | 577 | $2,308 | $769 |
The numbers are all crunched and now it’s time for the verdict. How long will it take for you to recuperate the extra cost of the hybrid with its gas savings?
Prius vs. Matrix
It will take you 2 years and 8 months until you break even. After that, it’s money in your pocket
Prius vs. Corolla
This one will take a little longer, 7 years and 2 months until you reach the breakeven point.
Fusion Hybrid vs. Fusion
This is the longest span by far, over 8 years and 8 months.
If gas goes to $5 per gallon as some have speculated, the repayment times are shortened (2 years & 2 months, 5 years & 7 months, and 6 years & 11 months, respectively).
Based on these numbers, if you plan to keep your car for over the repayment period, it makes sense to buy a hybrid. If you tend to switch cars more frequently, then stick with the regular gas version. Whatever you decide to do, be sure to analyze all the numbers and make sure you’re spending your money wisely.
So, looking at these number, are you surprised or did it confirm what you’ve suspected? Let us know your thoughts.
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