With gas prices at or near record highs, if you’re in the market to buy a car right now, fuel efficiency might be high on your wish list! As Consumer Reports explains, there are lots of other good reasons—in addition to fuel economy—to consider buying a hybrid vehicle.
“Hybrids have a gasoline-powered engine and a battery-powered electric motor that work together to optimize efficiency. Consumer Reports compared hybrid and non-hybrid versions of some popular vehicles and found that fuel savings could make up for many hybrids’ additional up-front purchase price,” said Alex Knizak, Consumer Reports Auto Expert.
Using a gas price of $4 per gallon and driving 12,000 miles a year, we found that the Toyota RAV4 Hybrid would pay off its higher cost in four years.
The Honda Accord Hybrid would pay it off in three years.
The Hyundai Santa Fe Hybrid, in only two, and if gas prices go up to $5 per gallon, the payback period for the Santa Fe Hybrid could drop to just one year.
“Beyond fuel economy, some hybrids perform better in our tests than the gas-only version of the same model. For example, the Hyundai Santa Fe Hybrid rides better, is quieter, and shifts more smoothly than the gas-only Santa Fe. It’s quicker in our acceleration tests, too,” said Knizak.
Consumer Reports also finds that hybrids often have higher owner satisfaction scores than their conventional counterparts.
And if a new hybrid isn’t in your budget, consider buying a used one. When shopping for a used car, we say the sweet spot is a well-maintained 5-year-old vehicle. It not only has gone through a significant part of the depreciation cycle but also was designed and built recently enough to have modern safety and convenience features.
And if you are in the market for a car but you’re not ready to try a hybrid, check out our website, where we’ve put Consumer Reports’ list of fuel-efficient gasoline-powered vehicles.