Leasing a hybrid

If you are driving that little, it doesn't seem worth the extra cost and issues.

 

You need to choose between a "regular" hybrid, and a PHEV. PHEV = Plugin Hybrid Electric Vehicle. Plugin hybrids like a Prius Prime have much greater range on pure electric drive than regular hybrids. You might be able to do 80% or more of your driving on battery power only. A regular hybrid will automatically switch between gas and electric as needed but they usually have a very short range on just electricity.

Remember that in a "regular" hybrid, all the energy needed to move the car ultimately comes from gasoline. There is no free lunch. There is greater efficiency though.

With a PHEV, if you have access to public parking with free EV charging, you can power the car essentially for free for most of your driving. Even if you charge it at home, it's likely to cost less than gasoline.

Also, a PHEV will usually get you a higher federal tax credit. Depends on the model's battery capacity. But the buy-in price is higher. Lots of factors to consider.

EDIT: For a PHEV lease, I don't think the tax credit affects you. HOWEVER, someone will get that tax credit, whether it's the selling dealer or the finance company. That's a price negotiation tool that works in your favor.

 

Interesting personal observation about local Toyota dealers. They never have a Prius anywhere near the showroom or the main entrance to the dealer where you pull in. SUVs, crossovers, and trucks get very prominent display. You have to hunt for Priuses way in the back lot.

 

A regular Camry is a bit hungry on fuel. A hybrid Camry will save you rather more than a Prius v Corolla.

 

I can’t speak to hybrids, but I saw a newer Accord the other day and thought it looked mighty sharp.

 

Rough estimate 15l of fuel per week saving. More in stop start city traffic, less on motorways.

 

I have owned two hybrids. Roughly, I fueled up about half as often as with my regular gas powered cars. I don't think it saved me any money but I felt better about the environmental impact. So there are reasons beyond the bottom line if you care about those things. But it probably won't save you money, the difference in cost probably won't be less than what you save in fuel costs.

 

@65c per litre x 15 x4⅓ = $42 per month. $504 annual.

2k on a 4 year lease might well be a bit light to justify on fuel alone, although good resale on hybrids might push the lease down even when the capital cost is higher???

 

At 150 miles a week, I'd opt for a plug-in electric car. Anything more, or for long trips/overnight, get a Prius. Most other hybrids don't really get that much of an improvement in gas mileage to justify the additional expense. But the Prius gets crazy mileage. We have an '07 at work. It gets about 48 mpg and is surprisingly peppy and roomy. The newer Priuses are even better.

 

Magic 8-Ball says “You clearly know what you need”.