Hybrid car price vs. gas savings. The cost of gas vs electric car? The price of one of these vehicles are decent and the fuel savings just might be worth a lot more.
Here’s a list of standard prices:
- Honda Insight $18,200
- Toyota Prius $23,520
- Chevrolet Volt $40,000
As you can see, these prices can vary. Some might not be the cheapest car, but they’re not so much expensive when there are less stops at the pump. I think it’s safe to say that you can find both gasoline and hybrid cars for the same price as the average price of a new car in America is $28,400.
The average number of miles a American driver completes per year is 15,000.
Let’s just say the average hybrid sedan gets 41 mpg and a moderately fuel efficient gas fueled sedan gets 29 mpg.
Hybrid Sedan 41mpg : 15,000/41= 365.85 gallons of gas a year. Multiplied by national average price of gas: 365.85 x $3.59 =$1313.40.
Regular Sedan 29 mpg : 15,000/29 = 517.24 gallons of gas a year. Multiplied by national average price of gas: 517.24 x $3.59 = $1856.89.
Let’s see the difference. $1856.89 — $1313.40 = $543.49. You could save an estimated $543.49 a year on gasoline.
If you purchase a plug-in hybrid or an electric car you may be eligible for $2,500 to $7,500 in tax credit.
There’s been huge debate on when to replace the hybrid battery in a car. Some people suggest 7 years. That can cost you up to $4,000 to replace a battery.
However, some of Toyota’s Prius models from 1999 still have their original battery. They have lasted more than 12 years. Also, the maintenance is cheaper on hybrids because they have less mechanical moving parts and there are no belts to replace.