at long last, Consumer Reports has done an analysis of the actual 'cost of ownership' of several different hybrid vehicles versus the equivalent gas engine model of the same vehicle. Some of the results were surprising ...
2006 Ford Escape -
- purchase price premium $ 6,300
- extra sales tax $ 500
- extra insurance cost $ 1,000
- extra maintenance cost $ 100
- extra depreciation cost $ 4,800
- extra financing cost $ 900
-------------
- total extra costs $ 13,600
--- less tax credit * - $ 1,950
--- less fuel savings # - $ 3,300
=======
Total 5 year extra cost $ 8,350
2006 Honda Accord -
- purchase price premium $ 5,700
- extra sales tax $ 400
- extra insurance cost $ 650
- extra maintenance cost $ - 200
- extra depreciation cost $ 4,300
- extra financing cost $ 800
-------------
- total extra costs $ 11,650
--- less tax credit * - $ 650
--- less fuel savings # - $ 700
=======
Total 5 year extra cost $ 10,250
2006 Honda Civic -
- purchase price premium $ 4,000
- extra sales tax $ 300
- extra insurance cost $ - 300
- extra maintenance cost $ 100
- extra depreciation cost $ 2,900
- extra financing cost $ 500
-------------
- total extra costs $ 7,500
--- less tax credit * - $ 2,100
--- less fuel savings # - $ 1,700
=======
Total 5 year extra cost $ 3,700
2006 Lexus RX -
- purchase price premium $ 8,800
- extra sales tax $ 700
- extra insurance cost $ 500
- extra maintenance cost $ 100
- extra depreciation cost $ 6,300
- extra financing cost $ 1,200
-------------
- total extra costs $ 17,600
--- less tax credit * - $ 2,250
--- less fuel savings # - $ 2,300
=======
Total 5 year extra cost $ 13,100
2006 Toyota Highlander -
- purchase price premium $ 7,200
- extra sales tax $ 600
- extra insurance cost $ 400
- extra maintenance cost $ 0
- extra depreciation cost $ 6,000
- extra financing cost $ 2,700
-------------
- total extra costs $ 16,900
--- less tax credit * - $ 2,200
--- less fuel savings # - $ 1,400
=======
Total 5 year extra cost $ 13,300
2006 Toyota Prius/Corolla -
- purchase price premium $ 5,700
- extra sales tax $ 400
- extra insurance cost $ 300
- extra maintenance cost $ 300
- extra depreciation cost $ 3,200
- extra financing cost $ 800
-------------
- total extra costs $ 10,700
--- less tax credit * - $ 3,150
--- less fuel savings # - $ 2,300
=======
Total 5 year extra cost $ 5,250
Copyright Consumer Reports magazine April 2006 issue
* the hybrid tax credit is based on estimates from the American Council for an Energy Efficient Economy as official IRS formulas/tax credit amounts have yet to be released.
* the hybrid tax credit, under current US law, only applies to the first 60,000 total hybrid vehicles sold in the US by each manufacturer. Thus when Honda sells a total of 60,000 hybrid civics plus hybrid accords in the same model year, no tax credit will be granted on additional hybrid civics or accords sold in the same year.
* particular states may also offer additional tax credits which are not included in this number
# fuel savings estimates are based on actual Consumer Reports test results of actual vehicle mileage.
# fuel savings are based on average current prices and gasoline taxes, and projected future gasoline price increases over 5 years
# fuel savings do not take into account future alternate methods of road tax collection which could impact hybrid vehicles
Insurance cost and Depreciation cost projections (= insurance loss value if stolen or totalled) provided by Vincentric.
~



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