What’s the True Cost of Owning a Hybrid?
The cost of owning a car is much more than the price you paid for it.
Savvy car buyers know that a vehicle’s sticker price doesn’t tell the whole story.
According to Canadian Automobile Association data from 2013, the average cost of running a vehicle is $10,456 a year. This figure is a combination of costs related to fuel, depreciation, insurance, and maintenance and repair, which can add up quickly.
Alternatives to gasoline engine vehicles promise a counter to these high costs. Hybrids and electric vehicles tout greater fuel savings, less expensive repair costs and increased longevity. But when all things are considered, what’s the true cost of owning a hybrid?