Fit = "Best mileage per dollar spent"
#1
06-16-2008, 09:03 AM
Fit = "Best mileage per dollar spent"
The following excerpt is from a Joseph White column in today's Wall Street Journal....
For example, by my rough calculation, if my colleague buys the Honda Civic Hybrid he's considering, he'll likely save $640 a year out of pocket compared to a regular Civic sedan, if his hybrid averages the EPA combined estimate of 42 miles per gallon over 15,000 annual miles and gas stays around $4 a gallon.
But the hybrid Civic lists for about $4,840 more than the gasoline model. A calculator or (in my case) an Excel spreadsheet says the payback on gasoline alone will take about 7 ½ years. This is why my colleague is now focused on benefits of hybrid ownership that can't be counted in coin – such as the privilege of using the High Occupancy Vehicle lanes on the suburban freeways around Washington D.C.
Consumer Reports in 2006 did a more elaborate analysis, factoring in depreciation, savings from tax credits and maintenance costs and concluded that most hybrids cost more over five years than their standard counterparts. Over longer periods, some hybrids get into the money.
But if what you're really after is the best mileage for dollar spent, a forthcoming Consumer Reports analysis will conclude that you should buy a Honda Fit, says Jeff Bartlett, a Consumer Reports editor.
For example, by my rough calculation, if my colleague buys the Honda Civic Hybrid he's considering, he'll likely save $640 a year out of pocket compared to a regular Civic sedan, if his hybrid averages the EPA combined estimate of 42 miles per gallon over 15,000 annual miles and gas stays around $4 a gallon.
But the hybrid Civic lists for about $4,840 more than the gasoline model. A calculator or (in my case) an Excel spreadsheet says the payback on gasoline alone will take about 7 ½ years. This is why my colleague is now focused on benefits of hybrid ownership that can't be counted in coin – such as the privilege of using the High Occupancy Vehicle lanes on the suburban freeways around Washington D.C.
Consumer Reports in 2006 did a more elaborate analysis, factoring in depreciation, savings from tax credits and maintenance costs and concluded that most hybrids cost more over five years than their standard counterparts. Over longer periods, some hybrids get into the money.
But if what you're really after is the best mileage for dollar spent, a forthcoming Consumer Reports analysis will conclude that you should buy a Honda Fit, says Jeff Bartlett, a Consumer Reports editor.
#2
06-16-2008, 09:33 AM
Yes, there is a lot more to consider than just MPG when you're looking at a car for economy. The hybrids seem to make more of a pro environment statement, but because they cost more in total sticker price... you have to keep them for a very long time to save coin. Cost to own has to be calculated, and in that department the Fit makes sense much more than a hybrid. Until they bring down the price of that technology...
#3
06-16-2008, 10:10 AM
bang/$
I still think it's an excellent marriage of best MPG/$, most cubic feet/$, best handling/$, comfort/$ and return of your $ on resale/$. It may not score a ten in any one category but might score nines in all.
#5
06-17-2008, 04:06 AM
Intereting.. how/why was it more boring than the Fit? Not that the Fit is boring, just wondering.
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Sabiokah
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