While owning a hybrid or electric car is a way for you to help save the environment and keep the air clean. For most people the main attraction of a hybrid or electric car is that it means fewer trips to the gas station.
Premiums and Savings
The problem with these types of cars however is that usually they’re more expensive than their gas-powered siblings. With hybrid cars, on average the price is at least $4,500 higher. The premiums for electric cars can reach up to $10,000 or even more.
The differential is what you need to make up for with your fuel savings. One study found that on average, you get back the extra money you paid for the hybrid version by driving it for about 5 years at 15,000 miles per year.
Buying the Right Car
There are generally two ways of making sure that you save money when you buy a hybrid or electric car. One way is to keep your investment to a minimum by buying the cheapest cars of this type.
Based on the MSRP of the base models, here are the most affordable hybrid/electric cars:
Now if you really want to save up, you can also find second-hand models. The other way of choosing a hybrid or electric car is by buying the car that has a very short break-even period. The break even period is the estimated time in which the fuel savings match or overtake the premium for the hybrid/electric car model.
Your best bet in this category is the 2013 Mercedes-Benz S-Class Hybrid, followed by the 2013 Buick LaCrosse Hybrid and the 2013 Lexus CT 200h. That’s because there is no break even period. The price of the hybrids here are already lower than the price of their gas-powered sibling. So that means you save on the purchase price and on the fuel costs. For the 2013 Buick Regal Hybrid, its cost and the cost of the gas-powered model is the same.
That’s what you call savings, although these cars can still cost you a pretty penny. For the rest of the cars in this category, the list includes:
To really make sure that you maximize your savings, you have to drive in a fuel-efficient manner. Use the economy mode, take care of the battery, and use the brake gently.