If you’re a car shopper looking to ditch your gas-powered car for a cleaner, more efficient hybrid, you might have to spend some money. However, there are cheaper alternatives to the most expensive hybrids and EVs. Consider one of these hybrids that have the lowest cost to own over five years, like the Toyota Corolla Hybrid.
- Hyundai Ioniq Plug-in Hybrid
- Toyota Prius Prime
- Honda Insight
- Toyota Corolla Hybrid
How much does the Hyundai Ioniq Plug-in Hybrid cost?
Although the Hyundai Ioniq Plug-in Hybrid has the highest depreciation rate of all four hybrids, it has the lowest overall cost to own over five years. Hybrid shoppers should expect to spend $29,759 over five years to own the Ioniq. In addition to a low cost-to-own, the Hyundai Ioniq Plug-in Hybrid has the lowest out-of-pocket expense figures at $11,996. That puts the Ioniq nearly $6,000 ahead of the Honda Insight.
How much should I pay for a Toyota Prius Prime?
Car shoppers should expect to pay about $30,015 to own their Toyota Prius Prime over the course of five years. Further, the Prius Prime is an all-around solid candidate for any hybrid customer. In addition to an attractive cost to own, KBB says that the Prius Prime depreciates less than the Hyundai Ioniq Plug-in Hybrid. Also, the Toyota hybrid demands less money in out-of-pocket expenses than the Honda Insight and Toyota Corolla Hybrid.
Does the Honda Insight cost the least to own?
The Honda Insight has the third-lowest cost to own, but Kelley Blue Book (KBB) gave the Insight its top spot in the hybrid segment. According to KBB, the Honda Insight has a five-year cost to own of $31,826. Although the Insight has the lowest maintenance costs of the segment, it does have the highest fuel costs and second-highest state fees of the hybrids on the list.
How much does a Toyota Corolla Hybrid cost to own?
The Toyota Corolla Hybrid costs $32,649 to own over five years. While that is more than the other hybrids on the list, it is an overall reasonable cost to own. Also, Corolla Hybrid owners will enjoy the lowest depreciation of the three, to the tune of $13,320.
However, the Toyota Corolla Hybrid has some underperforming qualities that keep it at the bottom of this list. First, the Corolla Hybrid has the highest total out-of-pocket expenses at $19,329. It also has the highest maintenance and fuel costs of the four hybrids. Still, the Toyota Corolla Hybrid is a good choice for an affordable hybrid, considering how expensive some larger hybrid vehicles get.
Which brand makes the cheapest cars to own?
Toyota makes the most cars with the lowest cost-to-own figures. According to KBB, Toyota’s reputation for consistent reliability across its lineup leads to lower-than-average costs. That’s good news for shoppers considering the Toyota Corolla Hybrid or other Toyota vehicles.
Scroll down to the following article to read about other hybrids!