Buying a hybrid will not save you money

According to Consumer Reports April issue, you won't save money buying a hybrid in five or even ten years. They did take into account increasing gas prices (projecting up to $4/gallon in five years). They also took into account the tax breaks available this year. And, according to the news story, most of the cost is related to it's higher cost at purchase.

I wrote about this before, why buy a hybrid?, but we should talk about it again from time to time. Today's consumers have an array of choices in front of them and if cost was the biggest factor, we would all be driving minis. For most drivers, buying a car is about image, comfort and reliability. And buying a hybrid is about being seen as being green. It's also about getting all those perks, like HOV access and free parking. It's also about being the envy of your neighbors.

Mercury News

If you're thinking of buying a hybrid vehicle to save money, you won't -- ever -- said Consumer Reports magazine.

In its April auto issue, due on newsstands Tuesday, the magazine said the six most popular gas-electric hybrids end up costing owners from $3,700 to $13,300 more over five years compared with similar gasoline models. Much of that comes from the higher purchase price of hybrids vs. non-hybrids, but they also will lose more of their value, the report said.