With gas prices rising people are looking for vehicles that have good fuel economy. This has many thinking about hybrid cars. Are hybrid cars really a good investment though?A lot of people think so but often times that is not true. I was reading about a recent study that Car Gurus did on the break even point for hybrid vehicles. On average hybrid cars cost 17% more than non hybrid cars. So how high does gas have to go before you break even on a hybrid car? $3 per gallon? $4? $5? $6? Try $7 per gallon.
$7 per gallon is just the average. So some, like the Ford Escape hybrid, break even at $2.50 per gallon, while others, like the Cadillac Escalade hybrid, require you paying $15 per gallon before you break even.
The rising gas prices mean that the demand for fuel efficient cars is going up, especially hybrids. The high demand means the cost to buy these cars increases. Most people are better off buying a non hybrid car that is still fuel efficient. Good examples are the Ford Fusion, Ford Escape, Chevrolet Equinox, and Pontiac Vibe.
Do some research before you spend the extra money on a hybrid. Sometimes they make good financial sense but not always. We listed some good websites below.
http://www.fueleconomy.gov/ This site lists the government's offical MPG rating for all vehicles.
http://www.nadaguides.com/ http://www.kbb.com/ They can give you a rough idea of what a vehicle's value is.
