Thinking about picking up a Honda Insight–their new hybrid which is selling like hot cakes in Japan–to save a few bucks? Well, you better be a ‘stocks for the long run’ type of person.
Wall Street Journal’s Wallet blog picks up on a report from Edmunds that finds it’ll take 14 years to recoup the premium paid for a Honda Insight, as compared to a similar non-hybrid Civic. The Civic costs $16,800 while the Insight is $20,000. At current gas prices the Insight needs 14 years at an average of 15,000 miles annually to make up the difference. At $4 a gallon, it takes seven years. Its more popular rival, the Prius which costs $2,250 more, would take 9 years of current gas conditions to justify its premium over the Insight.
This is all an interesting read, but we’d like to think many Hybrid owners factor in the good for the environment which is tough to price into any comparison between the Civic and the Insight.
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