There’s nothing like saving money, especially when you buy a high ticket item like a car.Price is a major consideration for most of us. But if you really want to determine how much you can save on the cost of owning a car for, say, a five year period, you need to consider depreciation, insurance, interest on financing, maintenance and repair, and sales tax as well.
In recent months we have been hearing hybrid, hybrid, hybrid, and hybrid. Major auto makers are coming up with their own models after Toyota led the way with the Prius. And we will soon be seeing plug-in hybrids.
So all of this hybrid talk has influenced you into purchasing a hybrid. Which hybrid is the least costly to own?
Consumer Reports did a study and found that six out of 12 hybrids can save a buyer about $500 to $4,250. They are the Toyota Prius and hybrid versions of the Chevrolet Malibu and Tahoe; the Ford Escape; the Saturn Vue; and the Toyota Camry. CR found that, in five year, the owner of the Toyota Camry hybrid saves $4,250. The Saturn Vue Greenline hybrid can save about $3,000, the Toyota Prius saves about $2,000 and the Chevrolet Tahoe saves around $1,500.
Although it is true that a hybrid model costs more than a conventional version of the same model, some hybrids are a little more and others are significantly more. Owners of the the Honda Civic, Nissan Altima, and the Saturn Aura hybrid versions pay about $250 to $750 more than the conventional model over five years. Moreover, all three vehicles can get federal tax incentives for their buyers.
Three hybrids cost significantly more than the gasoline models — the Lexus GS 450h and RX400h and the Toyota Highlander Hybrid.
via MSN
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