Green Car Payback: When Will I Break Even?
Depending on the price of the car and the cost of gas, investing in a green car may pay off faster than you think. Check out this chart to find out the green car payback for several of today's leading models.
GUIDE TO GREEN CARS, Summer 2012
By Jim Motavalli and Tabitha Alterman
Find additional details about green car payback, including information about how to calculate your own, in The Green Car Payback Question.
Green Car
|
Comparable Model
|
How Long Will It Take to Break Even if Gas Costs ...
|
Mitsubishi i (Electric)
112 MPGe - $22,475
|
Mitsubishi Lancer GT
26 MPG - $21,640
|
$3: 7.8 months
$4: 5.7 months
$5: 4.4 months
$6: 3.7 months
|
Nissan Leaf SV (Electric)
99 MPGe - $28,550
|
Nissan Altima 2.5 S
27 MPG - $23,490
|
$3: 4.4 years
$4: 3.2 years
$5: 2.4 years
$6: 2 years
|
Ford Fusion Hybrid
39 MPG - $29,495
|
Ford Fusion S
26 MPG - $22,495
|
$3: 12.1 years
$4: 9.1 years
$5: 7.3 years
$6: 6.1 years
|
Honda Civic Hybrid
44 MPG - $26,020
|
Honda Civic HF
33 mpg - $20,225
|
$3: 17 years
$4: 12.8 years
$5: 10.2 years
$6: 8.5 years
|
Toyota Camry Hybrid LE
41 MPG - $26,660
|
Toyota Camry LE
28 MPG - $23,260
|
$3: 6.7 years
$4: 5 years
$5: 4 years
$6: 3.3 years
|
Toyota Prius
50 MPG - $24,760
|
Toyota Corolla LE
29 MPG - $18,670
|
$3: 9.3 years
$4: 7 years
$5: 5.6 years
$6: 4.7 years
|
Our Assumptions
- The figures for mpg are city/highway combined.
- Annual fuel costs assume 15,000 miles driven, with a ratio of 45 percent highway/55 percent city driving.
- Electric car prices include the current $7,500 federal tax credit.
- All vehicle prices combine the manufacturer’s suggested retail price (MSRP) and the destination fee.
- For the sake of comparison, we have assumed that electricity rates will rise in tandem with gas prices, and that if gas costs $4/gallon, then electricity costs $0.12/kilowatt-hour (kwh); if gas is $5/gallon, then electricity is $0.14/kwh; and finally, if gas is $6/gallon, electricity is $0.16/kwh.