Looking to get more bang for your buck when it comes to your hybrid? The latest list of top money-saving hybrids is here, and some of the results may surprise.
The Lexus CT 200h clocks it at #1 as the most cost-effective hybrid on the market according to the latest Vincentric study of five-year ownership costs (owners save up to $6,379 total).
Still, despite being good for the environment and the wallet, many of those vehicles lack the social cache of newer models like the Tesla Model S, which is the cream of the luxury crop currently. But, with a price tag hovering around $89,000, it’s more likely to be bought for bragging rights than anything else.
Overall, Vincentric focused on 13 of the 33 hybrids they looked at to complete their list of the most cost-effective choices. Their study is based on total cost of ownership factors for 2013 models over a five-year period, assuming 15,000 miles driven per year and included depreciation, financing, insurance, maintenance, repairs, fees and taxes as well as fuel consumption.
In fact, some of the cars Vincentric looked at were hybrid in name (and environmental friendliness) but carried long-term operating costs only comparable to gas-only cars and trucks. The GMC Yukon Hybrid, for example, was predicated to add an enormous $9,171 to an owner’s five-year bottom line over the standard Yukon.
Vincentric’s president David Wurster told Forbes that,
“as the prevalence of hybrid technology grows, our research shows that consumers are seeing additional vehicles that are financially advantageous when compared to their all-gasoline counterparts. However, because over half of the hybrids we evaluated have higher five-year ownership costs compared to their all-gasoline counterparts, it is important that consumers look at individual models to understand the cost implications of hybrid technology for that vehicles.”
Unsurprisingly, Toyota led the pack with five models predicted to be cost-effective over a five-year term. So, if all else fails, sticking with the Grandfather of the hybrid car is always a solid pick, for the environment and for you.