In an earlier article we learned from a Toyota dealer the misconceptions many car shoppers have of owning a hybrid and the realities car shoppers need to know before buying one. This included the ending advice to car shoppers that they should do a personal cost comparison analysis to determine whether paying more for a Hybrid RAV4 over a non-hybrid RAV4 makes financial sense.
As an addendum to the article, here is a clear and useful explanation on how to do a simple cost analysis on your favorite spreadsheet program that is useful not just for the Hybrid Toyota RAV4 model used as an example, but also for any make and model of cars you might be considering…hybrid or not.
That was the message in a helpful Aki Stepinska YouTube channel episode where the host explains in a stepwise “Show and Tell” asking the question, “Is a Hybrid Vehicle Worth the Extra Price?” based primarily on calculating how much you save on gas when buying a hybrid over buying an otherwise equivalent non-hybrid model.
The Value of the Video
The value of the video is that it helps consumers reach an informed buying decision by number crunching the particulars of each consumer that takes into account:
- The number of expected miles the new vehicle will travel each year.
- The price of gas in a car owner’s locale.
- A comparison between a hybrid and non-hybrid model concerning fuel economy.
- A price comparison between hybrid and non-hybrid models that can make or break the cost savings/investment.
- The annual savings of a hybrid model.
- The break-even point where the extra cost of a hybrid pays for itself.
Caveats to the Video
As noted in the comments section of the video, there are other considerations that may or may not apply in each car shoppers’ case such as:
- Will the hybrid model be one that actually requires premium gas that costs more?
- Will the insurance rate of the hybrid be higher than that of a gas-only model?
- How do the overall maintenance and repair costs compare between hybrids and non-hybrids?
All of which, if places the hybrid in the red, may actually be offset into the black should the expected resale value of the hybrid be considerably higher than that of the non-hybrid.
In other words, you may want to consider costs beyond fuel efficiency, expected mileage, and the fluctuating price of gasoline at the pumps.
Related article: Owners Reveal Their “Real-World” Toyota RAV4 Hybrid MPG – Shocking
That said, here is the video of which should prove beneficial toward your new car buying decision making.
Is a Hybrid Vehicle Worth the Extra Price?
Bonus Video Topic Info
Still not sure after you've done your calculations? Here's a recent video from the Car Help Corner YouTube channel titled:
"Hybrid VS Gas Car || Which One Is Really Cheaper And Better To Buy?"
For additional articles related to hybrid cars, here are a few for your consideration:
- Fuel Efficiency You Can Expect from an Old Toyota Prius
- Toyota Hybrid Owner Experience with an Aftermarket Hybrid Battery
- Should you Buy a Toyota Camry Hybrid Advice from a Toyota Mechanic
Timothy Boyer is an automotive reporter based in Cincinnati. Experienced with early car restorations, he regularly restores older vehicles with engine modifications for improved performance. Follow Tim on Twitter at @TimBoyerWrites for daily news and topics related to new and used cars and trucks.
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