Hybrids DO save you money

The last time I wrote about hybrids it was to skewer the Toyota Prius, which, by my calculations, took 11 years to pay off if you drove $12,000 miles a year and paid $5 a gallon for gasoline on average.

But a story in the October issue of Consumer Reports says the Prius and a handful of other hybrids actually pay off in one year. I'm scandalized! And happy.

"Six of the 12 hybrids we looked at can save you from about $500 to $4,250, even without tax credits, and pay back their price premium after only one year," the story says.

CR calculated the five year cost of owning these vehicles (price plus five-year fuel cost) and compared them to similar non-hybrids.

The six vehicles that payoff in one year include the Prius, hybrid versions of the Chevrolet Malibu and Chevrolet Tahoe, the Ford Escape, Toyota Camry and Saturn Vue, above. With federal tax credits the Honda Civic, Nissan Altima and Saturn Aura hybrids also break even after one year.

The Web site doesn't have the nifty chart that the magazine does, so if you want full details you'll have to pick up a copy. The accompanying story, however, seems to be free online. Read the full story here. (Normally, accessing articles on Consumer Reports requires a paid membership.)