YOu might want to do some research before you buy. It's likely you wont' get the mileage benefit you are expecting - unless you use it mostly in city stop and go driving.
Consumer Reports did an excellent
compariison of hybrids vs gasoline-only cars - the extra cost vs the savings. The Whole evaluation of hybrids by Consumer Reports is
here. The whole report includes an
update of the report stating in part (emphasis my own):
"The report has been revised because a calculation error involving projections for depreciation in the original, printed version led us to overstate how much extra money six hybrids will cost owners during the first five years, compared with owning similar all-gas models.
Our revised data show that if buyers are able to take advantage of limited federal tax credits, two hybrids--the Toyota Prius and the Honda Civic Hybrid--are projected to cost about $400 and $300 less, respectively. The other four--the Ford Escape Hybrid, Honda Accord Hybrid, Lexus RX400h, and Toyota Highlander Hybrid--are projected to cost an estimated $1,900 to $5,500 more to own during that five-year period.
The revised figures do not change our message to car buyers that the costs and benefits of hybrids vary significantly, depending on the model, and that consumers should weigh them carefully before buying one. "
http://autos.aol.com/article?id=20051214142109990001
Hybrids: Frugal or Costly?
9 Considerations Before Buying
Bankrate.com
By Terry Jackson
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Are hybrids a good buy?
Based solely on the price of a gallon of gasoline, it makes no economic sense to buy a hybrid in comparison to the same vehicle with a gasoline-only engine.
Look at it this way: A Honda Civic Hybrid with a manual transmission carries a sticker price of $20,415. A comparable Honda Civic EX lists for $18,025. That puts the price difference between the two at $2,390.
Using the EPA fuel-mileage numbers, the Civic Hybrid should get, a combined city/highway, 47 mpg. The gasoline-only Civic should get 34 mpg, for a difference of 13 mpg.
Assume you drive 15,000 miles a year. The gasoline-only vehicle will consume 441 gallons in that distance (15,000 miles divided by 34 mpg is about 441). The hybrid will eat up 319 gallons (15,000 miles divided by 47 is about 319). The difference of 122 gallons, costing $2.50 per gallon, means the hybrid will save you $305 a year.
A sticker price differential of $2,390 means it would take almost eight years to break even ($2,390 divided by $305 is 7.8 years). Even if the cost of gasoline goes to $5 a gallon, the 122 gallon difference would save you $610 and it would still take almost four years ($2,390 divided by $610 is 3.9 years) to recoup the extra cost of the hybrid.
And that's a rosy scenario. The real-world numbers right now are even worse, because you can get a better discount off the list price on a gasoline-only Civic, while the Civic Hybrid is commanding near-list price.
What about tax incentives on hybrids?
True, tax breaks will offset some of the higher costs of a hybrid and reduce the time it would take to break even, but not by much.
If you buy one in 2005, the federal government allows a one-time $2,000 tax deduction, which would mean about $500 in the pocket of someone who's in the 25-percent tax bracket.
The highway bill passed recently, by Congress, changes the rules for hybrid vehicles bought between 2006 and 2010. Instead of a deduction, there would be a one-time tax credit of between $250 and $3,400, with the amount based on how fuel-efficient the vehicle is compared to a standard set in the law.
Further complicating matters is language in the bill that limits the tax breaks to only so many hybrids per manufacturer, which could benefit U.S. manufacturers just getting started selling hybrids and mean that the plentiful Toyota hybrids may not qualify after 2007.
Some states, particularly California, are offering their own incentives for going hybrid, including the right to cruise the carpool lane. But, as with the federal tax break, those free passes are limited in number, so latecomers to the hybrid revolution could be shut out.
What's the bottom line?
There are some good reasons to buy a hybrid vehicle. It can be less harmful to the environment, and as more people buy hybrids that will encourage manufacturers to further expand the technology which in time will bring down the cost.
It's also impressive technology, and some of the hybrid vehicles are fun to drive. The Prius also has the added, though subjective, benefit of cutting-edge sedan styling.
For performance junkies, some hybrids offer the added thrill of faster acceleration than their gasoline-only counterparts.
But if the dollars and cents of car ownership are your guiding principle, the hybrid revolution has not reached the point where it makes financial sense.
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The gasoline engines in either the hybrid or gasoline-only vehicle should hold up equally -- it's the electric side of the equation that's uncertain. The most pressing question concerns the batteries that are essential to any hybrid. Even high-tech batteries have a limited lifespan when it comes to charging and recharging them.
Generally, the battery packs in hybrids are warranted for eight years or between 80,000 and 100,000 miles depending on the manufacturer. Beyond the warranty period, the manufacturers say they are confident the batteries will last much longer -- perhaps for the useful life of the car.
If you had to replace a battery pack today, and it was not covered by warranty, it would cost $2,000 to $4,000, but so far, no manufacturer has reported selling a replacement battery pack for its hybrid models.
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