In the past few years, we Americans have seen gas prices soar past the $4 per gallon mark and experienced the first and second generation of green-technology hybrid automobiles. Many folks have seen these new hybrids as a way to get better (and sometimes much better) gas mileage AND save considerable money. The question to ask is: Do the numbers support this perception?
 
The simple answer is No. If you are thinking about investing in one of the new hi-MPG cars, don’t make the move thinking you’ll be saving money. Let’s look at the figures.
 
The five-year costs of owning and driving the 50mpg 2010 Toyota Prius V are about $35,000. The costs of owning and operating a five year old vehicle worth $8,000 that gets a whopping 15 MPG is less than $9,000.
 
To make up the $26,000 difference would take you over 29 years at $2.50/gal. Even at $4/gallon it would take 18 years to recoup your investment. And what if gas skies to an unbelievable $5 per gallon? Well, then it will only take only 14 years to get your money back.
 
So in the long run, if your current car still does the job – and if you maintain it regularly and properly you can save over $26,000 over the next five years. And let me tell you, that buys a lot of gas.