With gas prices skyrocketing, and a desire to be environmentally conscious, the average cost of a hybrid car has been declining. Not only that--the number of options from both foreign and domestic manufacturers has been increasing exponentially in the recent years.
Most Commonly Seen Hybrids on the Road
Japanese manufacturers were the first to really pioneer hybrid technology; therefore their hybrids have been around longer, bringing new innovation as well as cost savings to the consumer. Most of these mainly sedan models will range in an MSRP price between $23,000 and $35,000 for a brand new car, depending on additional accessories.
New Options for Hybrids
Many domestic car manufacturers, as well as European companies, have begun to produce hybrid versions of some of their models. Surprisingly, domestic SUV's, on average, go for prices comparable to their smaller Japanese counterparts at about $30,000 to $45,000 MSRP. However, if you are looking for something a little higher end, many European manufacturers have models that range in the high $60,000s.
Eventual Cost Savings
While the initial price of hybrid cars might be between $2,000 to $10,000 more than a traditional fueled car, the ultimate savings make the purchase completely worth the investment. Hybrid cars run on both electric and traditional fuels, which require fewer stops to the fill station that will ultimately save you hundreds of dollars in costs.
Federal government programs have also targeted drivers with hybrid vehicles for multiple new car tax breaks and rebates. The credits for owning a green car often times offsets the total cost of the original purchase making the car just as affordable as any other traditional vehicle.
Also, in many urban cities where carpool lanes are in effect, drivers who own a hybrid car may be able to utilize those lanes as well as completely avoid paying any bridge or highway tolls. This varies state to state, however, there are multiple green car driver programs already instituted.
Maintenance Isn't Much of a Cost Concern
Initially, new consumers of hybrid vehicles were concerned with potential problems they may encounter when forced to make repairs to their cars and the availability of maintenance shops carrying the appropriate parts. However, as more hybrid cars hit the road, more shops have adapted to these types of repairs with little increase in costs compared to dealing with traditional gasoline-fueled vehicles. The other upside to this issue is that hybrid vehicles tend to have fewer maintenance issues than normal cars on the road.
The confidence of hybrid car manufacturers is evident from the warranties offered by them. The majority of hybrid car manufacturers, including Honda, Ford and Toyota, are offering 8 to 10 years of warranty on their various hybrids. For example, Toyota is offering a whooping 180,000 miles warranty for their battery pack.
As far as the maintenance of hybrid cars is concerned, most hybrid components do not require regular maintenance. Oil changes must be done, just like with conventional gas autos. Another distinct advantage is the regenerative braking technology in hybrids. The brake pads will last longer because of this technology.
Overall Total Cost of Ownership for a Hybrid SUV
At present, SUV hybrids are still much more expensive than non-hybrid SUVs. Depending on the manufacturer of the SUV, prices for a hybrid version of a particular make and model may differ by as much as $10,000 to $12,000 over the price of the standard gas engine version of the SUV.
Many hybrid versions of an SUV may get 20% to 40% better gas mileage than the standard gas engine version or model; however, many industry experts state that the average savings of a hybrid SUV over a conventional engine SUV model generally translates to only about $300 to $600 every year in savings.
Therefore, it is hard for many customers to justify the price difference of a hybrid SUV versus a non-hybrid version when savings on fuel costs amount to so little. While a person's driving habits will dictate how much a person saves in fuel costs, many analysts project that the time required to recoup the added cost of a hybrid SUV may take between 7 and 15 years. Furthermore, many analysts project that many drivers would never be able to actually see a return on their investment with a hybrid SUV.
Because a hybrid SUV relies so heavily on its electric battery, the hybrid SUV batteries used in hybrid vehicles are generally much more expensive than standard car batteries.
Hybrid SUV vehicles are designed to be able to recharge the battery when the vehicle is not running on electric power; however, as with all types of rechargeable batteries, they eventually wear out. When they do, you can expect to pay several hundred dollars for a car battery for your hybrid SUV.
Related Questions and Answers
What are the Cheapest Hybrid Car Luxury Models?
The cheapest hybrid car in the luxury category is a Lexus HS 250h, which sells for $35,000. Hybrids in the luxury category range in price from $35,000 all the way up to $400,000, which will get you an all electric super-fast Venturi Fetish. In the more affordable category though, the Lexus is followed by another Lexus, the RX450H. The VW Touareg TDI costs $42,000, making it the third cheapest, followed by the BMW 335D. The top five are rounded out by the Mercedes ML 320 and the Audi Q7 TDI. Driving a luxury hybrid can be expensive, but the savings on gas will help you justify the big price tag.
Is the Price of Hybrid Cars Going Up or Down?
Since they were introduced, the price of hybrid cars has definitely come down. In recent years, they have leveled off and will probably stay around the same price level until they gain a bigger share of the market. As more people buy hybrids, the price will continue to fall, but at this point in time, not enough are being sold for a big price drop to occur. In many cases, the most popular hybrids are hard to find. Also, there have been cases of people paying over sticker price just to get their hands on one.
Is there anything Specific to Expect from Future Hybrid SUV Models?
As to future hybrid SUV vehicles, from what we've seen coming out of the major shows in the last couple of months, you will find that in the near-term hybrid SUV, such as the Ford Transport and Escape, there is going to be shifting from Nickel-Metal hydride technology to the lithium-ion technology, and it is likely that future hybrids will be turning into fully electric vehicles as more Leafs come on line from Nissan and other manufacturers such as Toyota. Nissan's Leaf, already a small car/SUV, is a boxy affair that will do at least 40 miles on an overnight electric charge from the special electric charging station you have to have installed.
How Does Hybrid SUV Mileage Compare to that of Hybrid Trucks?
The truthful answer about hybrid SUV mileage is there isn't any difference in fuel economy. Unless you are constantly hauling half-ton loads of rocks in a Silverado 1500, the fuel economy is no different in the hybrid SUV and the hybrid pickup, built on the same body and with the same power team and driveline. It's actually the same vehicle, the only difference being that the Tahoe, for instance, is enclosed and more SUV-like, while the Silverado 1500 (same vehicle but with a bed), is a truck. You might find a tad of difference if you buy a long cab version with all the toys, but that's about the only place you'll find it.