When buying a Hybrid makes financial sense
Comparing gas-only versions of cars to their hybrid counterparts is as old as hybrids themselves. The naysayers always complain that hybrids take too long to pay off, or that they never actually pay off. I think that they *can* pay off, depending on a few things. Let’s look at my favorite hybrid, the Civic Hybrid. Currently the Civic Hybrid runs just about $3,000 more expensive than the Civic EX, the closest gas-only trim level.
If you qualify for the federal tax credit, you’ll get $2100 of that premium back at tax time – leaving you with just $900 to make up in gas savings. Even if you only drive 10,000 miles per year, and gas stays cheap, you’ll be in the black in less than 2 years. Since most people drive more than 10k miles / year, and gas is likely to head back up in price, it’s even easier to break even. As long as you can snag that tax credit, the Civic Hybrid makes perfect sense. It seems almost foolish to buy a regular ‘ol EX, doesn’t it?
Filed under: Civic Hybrid
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