My husband's job requires a bit of traveling, MPG (miles per gallon) and the rising cost of gas was an important factor to us.
Over hours of comparing vehicles with MPG's of at least 40 or more and within an affordable price range, we narrowed it down to two vehicles - one ended up being a hybrid and the other not. Both vehicles were close in price, but without question, I wanted the hybrid (a Honda Insight), not only to save money on gas, but it was also the "greener" option.
There has been some debate on whether or not hybrid cars are worth the extra money, so I have included some info-graphics that will give you some stats as well as some general information
If you have not researched hybrid vehicles, then you probably did not know that there are more than one type. A quick explanation for each can be found below.
Now let's take a look at one of the most popular hybrid cars, the Toyota Prius, which is somewhat similar to the Honda Insight that I own. One of the big differences is the MPG, with the Prius being more expensive, but more fuel efficient.
The Cost of Our Vehicle
For a brand new Honda Insight, the MRSRP is $18,600 for the base 2013 model. We went the cheaper route and bought our car used (2 years old) for about $3,000 less. If you can find the 2000 model, you can expect to pay anywhere between $3,000 - $4,000.
* Prices based on local listings via edmunds.com
How Much Was Our Gas Savings?
Now, to help prove that the money saving stats are correct, here are the calculations of gas costs for our family. Our old car had 20 city/ 28 highway MPG and the Insight gets roughly 40 city/43 highway MPG (even though it seems like that number is a little low).
Our each time my husband and I filled the tank of our previous non-hybrid car (tank size was 15 gallons), we spend at least $50 depending on the price of gas per week, which fluctuated between $3.50-$4 per gallon.
Wow...ten years ago, gas was $1.50 per gallon (tear!)
However, with our Insight (10 gallon tank), we now spend about $30 per week! A savings of $80 per month, $960 per YEAR!
So, what do you think - Are hybrids the better vehicle option and/or do you plan owning one in the future?
Disclaimer : I was not paid for this post, nor did I receive any other type of compensation. All opinions are 100% my own.