Intellichoice.com, specializing in automotive cost-of-ownership data, has published a study that says over the long haul, hybrids save cash.
- They cost significantly more to purchase than their 'non-hybrid' counterparts.
- In 2006, all hybrids were IntelliChoice Excellent Values in their respective classes.
- They have about the same maintenance and repair costs for the first five years or 70,000 miles as compared to gas versions of the same model.
- Hybrids hold their value better over five years compared to gas powered versions of the same model.
- Average insurance costs are somewhat to significantly higher on hybrids.
- As expected, fuel costs are dramatically lower on these models.
- Hybrids are in demand. Currently most if not all hybrids have Target Prices at or near Manufacturer's Suggested Retail Price (MSRP).
IntelliChoice (about) says that it pioneered the concept of automobile ownership costs nearly twenty years ago.
http://www.intellichoice.com/carBuying101/HypeOverHybrids
Anyone who is paying more for their car insurance for a hybrid had better shop around. My insurance is actually slightly lower moving into a Toyota Prius than my previous car which was 5 years old and comparable. I have not talked to anyone who owns a Prius who is paying more for auto insurance. And the cost to run the car is significantly lower.
I never found a an increase in premiums because it was a hybrid, but then again I owned a VW and the cost of parts for that were crazy.
Here is a quote from the Travels Insurance company..."Our preliminary research indicates that hybrid owners tend to fall into the preferred insured category, and at Travelers, lower risk drivers are rewarded with lower premiums"