HYBRID CARS HOLD THEIR VALUE,PROVEN AGAIN
You already know you’ll save gas by driving a hybrid, and nobody expects gas prices to drop dramatically soon. Of course, a hybrid car tends to cost more upfront than a similar non-hybrid version. Some people say you won’t really save in the long-run because of this.
But the smart folks at the Rocky Mountain Institute crunched the numbers and proved that a Toyota Prius holds its value over three years and saves enough in gas to be less expensive than either a non-hybrid Honda Accord or Civic.
Now the car fans at Eco-Modder did their own math and — no surprise — proved the same thing, just with more cars.
Using good, old Kelly Blue Book prices, Eco-Modder compared four popular family vehicles: Ford F150 pickup truck, Honda Civic sedan, Toyota Prius sedan, and Dodge Caravan minivan. They used stats on the 2004 and 2008 models of the cars.
The most glaring difference was between the pickup truck and the hybrid. The 2004 Ford truck retained a mere 37% of its value, yet a 2004 Toyota hybrid still earns 95% of its value. A used Prius was worth more than any other used car, and in general, the more fuel-efficient cars (the Prius and the Civic) held on to more value than the gas guzzlers.
According to Green Fuels Forecast, the Kelly Blue Book and Edmunds predictions for future values of used cars say that hybrids are continuing to rise. The Ford Escape Hybrid should keep 77.5% of its value, and the Honda Civic Hybrid may retain 62%.
With a recent report from auto industry insiders concluding that all new cars will be hybrids by 2020, this is just further proof of the vehicle’s staying power.
Hybrids aren’t just green cars — they could save you green too.
