Hybric cars cheaper to own than other cars

Posted on Tuesday, Jan 16 2007 @ 03:26 CET by Thomas De Maesschalck
IntelliChoice checked out the Total Cost of Ownership (TCO) over five years (or 70,000 miles) of 25 hybrid cars. They found out that the TCO of hybrid cars is lower than the vehicles they directly compete against.

Bell said that aside from lower fuel costs, other factors playing a role in hybrids’ cost performance are better-than-expected depreciation and resale value. Also, contrary to skeptics and critics, repair and maintenance costs have not proven to be higher than those of other vehicles.

"Up to now,” Bell added, “The Prius has been the darling of the hybrid set, and it remains our highest rated value for hybrid vehicles. But this survey validates the cost performance of the other many hybrid models that are currently on the market. All of the hybrids in our study have achieved ‘Excellent’ ratings in their respective classes from IntelliChoice.com.”

This chart ranks hybrids in order of their performance against their peer group:




5 year expected cost

5 year actual cost

Toyota Prius / 33305  19897 
Honda Civic Hybrid (Auto) 31595  23268 
Honda Civic Hybrid w/Nav (Auto) 32843  24891 
Toyota Highlander Hybrid 2WD 44841  34038 
Lexus RX 400h 2WD 54121  41472 
Lexus RX 400h AWD 55509  42681 
Toyota Highlander Hybrid 4WD 45868  35690 
Lexus RX 400h AWD (Original Version) 57231  45640 
Toyota Highlander Hybrid Limited 2WD 48409  38902 
Ford Escape Hybrid 2WD 39361  32188 
Toyota Highlander Hybrid Limited 4WD 49436  40552 
Mercury Mariner Hybrid 41349  34331 
Ford Escape Hybrid 4WD 40839  34696 
Honda Accord Hybrid 40803  34706 
Honda Insight (Manual) 28724  24755 
Honda Insight AC (Auto) 30354  26424 
Honda Insight AC (Manual) 29690  26212 
Honda Accord Hybrid w/Nav System 42305  37411 
Chevrolet Silverado LT Hybrid 2WD* 42840  39377 
GMC Sierra SLE Hybrid 2WD* 43041  39709 
Chevrolet Silverado LT Hybrid 4WD* 45345  42260 
GMC Sierra SLE Hybrid 4WD* 45824  42884 

* All trim lines 1500 Extended Cab

When analyzing Total Cost of Ownership, IntelliChoice.com focuses on seven key criteria, including depreciation, fuel cost, finance costs, insurance, repairs, maintenance and applicable state fees. In the case of hybrids, IntelliChoice.com also factors in federal tax credits.

For the survey, 2006 model year hybrids were analyzed for their Total Cost of Ownership over a five-year or 70,000-mile period. The five-year expected Cost of Ownership for each hybrid vehicle is based on the average cost of all vehicles in each class. “Hybrids are proving themselves to be an excellent alternative for car buyers. Even when factoring in the additional upfront costs for their purchase, the long-term savings hybrids generate makes them a sensible and attractive purchase,” said Bell.

Against all criteria, IntelliChoice.com found the Toyota Prius to be the best in overall class. Along with the Toyota Prius, the Honda Civic, Toyota Highlander, Ford Escape and Honda Insight also received top marks for value. Some of the top hybrids in the 2006 survey were previously awarded IntelliChoice’s Best Overall Value of the Year (BOVY). IntelliChoice.com’s BOVY awards recognize cars, trucks and SUVs that will cost significantly less to own than would be expected of vehicles at their purchase prices.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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