Is there a formula to determine if buying a Hybrid is cost effective?

Question

Is there a formula to determine if buying a Hybrid is cost effective?

Answer 1

I have driven a hybrid and have found them really good-they are cost -effective and its worth getting one -When  you are in  traffic, the hybrid stops the fuel and it goes on  electrical , saving you gas-As you accelerate it is like a normal car

Go get one you will not be  sorry! In every way they are like any normal car to drive, to handle.

Answer 2

There are many ways to calculate this but the most common is:  Calculate fuel mileage for both vehicles in gallons per mile multiply that number (for each vehicle) by average miles per year.  Multiply those by yearly average fuel cost.  The results are your fuel costs for one year for each vehicle.  You then need to add the difference in purchase price of the higher cost vehicle to that fuel price of the higher cost vehicle.  You then need to find out how long it will take to pay off the purchase price premium, by dividing the difference in purchace price by the difference in fuel savings if there is any for the vehicle.  That is the number of years it will take to break even.  Every year you keep the car after that will be savings.  The true benefits of hybrid are in the pollution prevention.  If you are looking to save money wait till they introduce a plug-in hybrid.  The battery is charged by your homes electric rather than by an internal combustion engine which uses fuel.  Then you can contact your local utility and ask to sign up for green energy.

Answer 3

Go to www.fueleconomy.gov and choose the car you are looking into. From there, you can enter how many miles per year you drive and what percentage of highway/city miles you drive. Then, the site will calculate your gas costs per year. Lastly, you calculate your car payment (for an estimate, try www.bankrate.com and click on "auto") and add the yearly total to your yearly fuel costs. Using this formula you should be able to determine if they hybrid is worth it.