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Is it REALLY worth it to purchase a Hybrid vehicle; currently drive 70 city & 30 hwy.??
I am thinking about Purchasing a New 2014 Honda Accord Hybrid (Base model). I currently drive 70 city & 30 highway; monthly. I have never owned a vehicle for more than 8 years. Others have informed me that Hybrids are a Waste of money; in the Long term. My BEST play is to Buy a 2014 Accord Coupe or purchase a Sedan (Less money).
I am seeking an Honest ( NO BIAS ) Second opinion; Can You or Anyone Help me?!
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I don't think they are a waste, but your payback time will depend on your circumstances. A couple of years ago, Edmunds compared a Camry and Camry Hybrid and figured the payback period was 1.7 years. After that the hybrid saved the owner money. (Investopedia)
In that calculation I think the EPA assumptions were used - 45% highway, 55% city driving. You should have a little faster payback period since hybrids generally do better than gassers in city driving.
I'm considering a Prius for my next ride so I am a bit biased.
(I intentionally said "gassers" because a diesel would be another option, but they generally get better mpg on the highway than a similar vehicle in town.)
THANK YOU, for Your answer and Your opinion. I discussed this future plan of mine (Hybrid purchase) with my close friends and they told me basically the "Same thing" but in more words than one. My oldest sister told me I really drive 90% city and 10% hwy; So the purchase of a Hybrid would be My Best Bet and makes Perfect Sense also Honda's Are Pretty Good cars overall. So, After talking with my sister and friends I have come to a decision to Buy a 2014 Honda Accord Hybrid (base model) color: Blue with Black cloth interior (Probably in September, when the price drops, a little bit more with the Help of TrueCar). Now, on a side note, My sister told me I should probably wait to see if Toyota will install a Hybrid drivetrain within the New 2015 Camry model ( She likes the way it looks; Red with Black cloth interior ).
Since there's already been a Camry Hybrid out there for the last couple of years, my guess is that Toyota will continue to sell one for the 2015 Camry. Hondas of course have a good reputation as well.
I pushed back my decision and got another used van a month ago to replace my old one that was getting too unreliable. Not sure what to get when we finally decide to downsize with a new car. Lots of smaller cars are getting pretty good mileage just with the "old fashioned" gas engines (but they keep upgrading those "old" engines).
But for as much city driving as you do, it would be hard to beat the hybrid on gas savings.
I did the math and it just didn't pencil out for me. I bought a 2014 Honda Accord EX-L V6 for about 5,000 less then the hybrid version would have cost me. I am getting close to 30 with the V6 on average. I use about 120-150 in gas a month but my mileage is only around 1000 miles a month. I am hearing the Hybrid gets around 50 MPG. OK suppose I get 60. Then I save around 60 dollars a month. 60x12 =720 of gas a year. My payback period is about 7 years. I bet the V6 Accord is much more fun to drive.
My wife used to be an energy auditor and a 7 year payback was pretty good, if you were spending money on insulation or a new water heater.
I usually drive my cars into the ground so seven years would be easy for me - just recently got my 5th car since 1984 and all the old ones were driven between ten and seventeen years. So I'd likely keep a hybrid long enough to start saving money.
And yeah, you're right. Most people want a new ride more often than every seven years.
I drive 3K+ miles (30%city, 60% highway) every month and with hybrid break even happens after 4 years. After 4 years every thing is a saving and I plan to keep the car driving for long term.
And one good thing I noticed, mpg is really good between 75 to 90 mph, while lower speeds hybrid kicks in.
Car - Honda Accord Hybrid 2014.