True Cost of Hybrid Ownership: Vincentric Hybrid Analysis
Do you own a hybrid car? What convinced you to go green? Was it your die-hard crunchy tree-hugger persona? Or, are you more frugally-minded and just want to save money? Both are noble causes and, whatever your reasons, you’re producing fewer emissions by driving a hybrid. But is that hybrid actually saving you money? Let’s find out.
Lucky for us, Vincentric has done all the real legwork. Vincentric is a research company that analyzes the auto industry (Side note: What kind of a name is “Vincentric?” In my option, if it rhymes with “eccentric,” it’s probably not a good name for a research company. Okay, back to the facts). Each year, they produce a Hybrid Analysis report that takes a look at the true cost of hybrid ownership. The report compares the ownership costs of many popular hybrid cars to that of their gasoline counterparts. The difference between the two is what the report focuses on.
When I read through this report, I was surprised to see the drastic difference between the best and worst savings on a hybrid. The winner, as far as savings go, is the 2013 Lexus CT 200h. This hybrid would save owners $6,379 over five year. The worst culprit is the 2013 GMC Yukon Hybrid, which would cost buyers $9,171 more to own!
Overall, Vincentric found 13 hybrids that would save owners money over the course of 5 years. Some of the other money-saving hybrid winners are the 2013 Ford Fusion Hybrid (-$803), 2013 Lincoln MKZ Hybrid (-$4,778), and the 2013 Honda Insight (-$1,079).
They also listed six other hybrids to consider if environmental concerns are your main reason for buying a hybrid. These may not exactly save you money, but the cost difference is relatively small. These include the 2013 Toyota Highlander Hybrid ($253), 2013 Ford C-Max Hybrid ($956), and the 2013 Porsche Panamera Hybrid ($313).
What I took away from this report is to do your homework before buying a hybrid. If saving money is your ultimate goal, make sure you know what you’re getting in to. Just because you’re buying less gas, doesn’t mean you’re saving money.
If you had to buy a hybrid vehicle today, which car would you choose?
- Sarah MahanStaff Writer
Sarah Mahan currently lives in the Bicycle Capital of the Midwest, Xenia, Ohio, with her band director husband and two darling daughters. She loves all things French and the written word. Sarah writes professionally for the automotive industry. While her forte in cars focuses on new vehicle technology and family-friendly features, she is developing a love for all things fast, maybe in an attempt to get to know her wild side. See more articles by Sarah.