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With Ford announcing in October that is has created its first vehicle with a triple-digit miles per gallon economy figure, I became interested in hybrid cars and gas mileage.
I've always laughed about how goofy hybrid vehicles sometimes look on the road, but I've wondered at the same time as well could purchasing a hybrid vehicle cut back costs for the average American? Are they really cost effective?
For many Americans who drive back and forth to work, it seems gas prices are something they will always have to think about. And with gas prices nearing four dollars at the beginning of this year, the average American, myself included, might be asking themselves what options they have.
I decided to do a little research on the 2012 Toyota Prius Two, which was the cheapest Prius that was shown on Toyota's website. The Prius Two costs $24,000 and is a gas-electric hybrid.
Besides fancy features like the Smart Key System on the driver's door which allows a Push Button Start, the display also shows information such as fuel consumption history, average fuel economy, average speed and a special ECO Savings Record.
Although this information is interesting, does it really matter? Am I going to save money by buying this thing?
The Prius Two boasts a 51 miles per gallon in the city and 48 miles per gallon on the highway. These statistics may seem awesome, but here is something to think about. The electric motor will shut off around 40 miles per hour and the gas engine will kick in. So if you're driving over 40 miles per hour, you will still have to use the gas motor and still have to fill up the car with expensive gas.
For those in big cities, the electric motor seems like a great idea because the electric engine does not idle like a normal gas engine does. So for commuters stuck in rush hour traffic, the electric motor would be a blessing.
But the truth is, most of us don't sit in rush hour traffic. And most of us don't go only 40 miles per hour, unless of course we're driving in town. (This excludes high schoolers driving on Chapel Street at about 3:20 p.m. on a school day).
As terrible as I am at math, I decided to do some calculations. With a hybrid car costing about $3,000 more than it's non-hybrid counterpart, I wanted to see how long it would take for a person to break even on their hybrid investment.
Although gas savings would probably be seen relatively early, it would take about 20 years to break even if I purchased the Prius Two.
If you're looking into gas savings, you can calculate gas savings by accessing www.fueleconomy.gov and exploring the Save Money & Fuel tab. You can use a cost calculator to figure out how much you would be saving on gas per year by comparing two vehicles, a gas-electric hybrid and its traditional gas counterpart.
But just remember, there are unforseen costs such as insurance and repairs might be costly for your hybrid.
For some, a tax credit might persuade a person to purchase a hybrid vehicle. But unfortunately, as of December 2010, the tax credits for gas-electric hybrids is gone. Consumers may receive a tax incentive on plug-in and electric cars though, if you're comfortable driving one of those things.
Depending on the person or the family, a gas-electric hybrid may be for you. But I suggest weighing the options before rushing to the dealership.
Purchasing a hybrid isn't something I foresee in my future as someone looking to save a little bit of money fast. But if you're a person who strives to feel environmentally friendly with your new Prius, the world certainly needs more people like you looking out for the Earth.