MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
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Hits of the Day
Payoff for Efficient Cars Takes Years
By Donal on Fri, 04/06/2012 - 7:23pm |Shoppers have more options than ever to fight back, including hybrids, plug-ins, electric vehicles and “eco” or “super fuel economy” packages.
But opting for models that promise better mileage through new technologies does not necessarily save money, according to data compiled for The New York Times by TrueCar.com, an automotive research Web site.
Except for two hybrids, the Prius and Lincoln MKZ, and the diesel-powered Volkswagen Jetta TDI, the added cost of the fuel-efficient technologies is so high that it would take the average driver many years — in some cases more than a decade — to save money over comparable new models with conventional internal-combustion engines.
That is true at today’s pump prices, around $4, and also if gas were to climb to $5 a gallon, the data shows.
Gas would have to approach $8 a gallon before many of the cars could be expected to pay off in the six years an average person owns a car.
URL:
http://www.nytimes.com/2012/04/05/business/energy-environment/for-hybrid-and-electric-cars-to-pay-off-owners-must-wait.html
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Comments
As always, they're neglecting trade-in value. I know that if you keep your car (as I tend to do), the trade-in value isn't as relevant, but then that also means you're likely to get that full pay-off, and then some. However, the point is that one can re-sell a hybrid after only a few years and still be better off, at least with my driving patterns (which aren't as frugal as yours, but are well below the average mileage).
by Verified Atheist on Sat, 04/07/2012 - 9:12am
How do you know that?
by Donal on Sat, 04/07/2012 - 9:53am
Which, that they're neglecting trade-in value, or that the trade-in value is enough to offset the cost in a few years? The latter implies the former (given that they're asserting otherwise), so I'll assume it's the latter you're referring to.
I can't say I've done the math for all of the hybrids out there, so I won't assert that it's necessarily true for all of them, but I suspect it's true for most of them, when compared to their non-hybrid counterparts, where available. That doesn't mean that non-hybrid but more fuel efficient options might not still be better yet. I've done the analysis for both the Civic Hybrid versus the Civic and the Prius versus some other Toyota (I can't remember which one, but it's one that's often used for comparison by others, possibly the Corolla).
by Verified Atheist on Sat, 04/07/2012 - 10:01am
I was wondering if you had found True Car's formulas somewhere - I couldn't.
by Donal on Sat, 04/07/2012 - 10:17am