The cost of the Toyota Corolla hybrid. One of the most affordable cars in the hybrid car class is the 2022 Toyota Corolla Hybrid, which has a starting price of $23,650.
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What is the typical cost of a hybrid Toyota?
The cost of the Toyota Camry hybrid. At $27,380, the starting price of the base 2022 Toyota Camry Hybrid LE is about average for the segment. The most expensive model, the Hybrid XSE, costs $32,820. For fantastic savings at your neighborhood Toyota dealer, check out our U.S. News Best Price Program.
Is the hybrid Toyota Corolla in 2022 worth the price?
Despite not being the most thrilling little vehicle on the market, the economical 2022 Corolla Hybrid has a lot going for it. Its superb fuel efficiency, which is greater than 50 mpg in both city and highway travel, comes first. We really like how the cabin is simple and how many safety features there are for the price.
How far can a Toyota Corolla Hybrid drive?
How long do Toyota Corollas last? may be on your mind if you’re thinking about buying one. The Toyota Corolla has a life expectancy of up to 10 years or 300,000 miles with routine maintenance and service.
Is buying a hybrid car worthwhile?
We’re getting this one fundamental query more frequently: Is a hybrid worth it? as more hybrid cars hit the market and prices slowly decline.
Although there are numerous factors to consider before making the decision to spend more money on a hybrid car, for the majority of drivers, cost is the primary consideration. In order for you to determine whether a hybrid vehicle makes sense for the way you drive, we’ll go over some fundamental hybrid arithmetic here.
It’s important to keep in mind that the answer to the question is not straightforward until we run some calculations. The value of lowering carbon dioxide emissions and the satisfaction you have from doing so, the sort of power generation in your area, or the cradle-to-grave emissions for a vehicle and its lithium-ion battery might all be taken into account. You may even attempt to place a value on the pleasure of driving an electric vehicle that accelerates instantly or the added comfort of getting into a vehicle that has been preheated by mains power.
To keep things straightforward, though, we’ll concentrate on the price difference between a comparable ICE (internal combustion engine) vehicle and a hybrid, and determine how long it will take to make up the difference in fuel savings.
Your driving habits
A few numbers will be necessary for this. The first is an estimate of how much of your driving is done in cities versus on highways. City driving is regarded as stop-and-go traffic for testing purposes, with an average speed of 34 km/h and a top speed of 90 km/h. Highway driving is defined as traveling at speeds between 78 and 97 km/h on interstates and rural roads. According to Natural Resources Canada (NRCan), the ratio of gasoline consumption is 55 percent city and 45 percent highway. The division between your city and highway may be significantly different. When driving in cities, hybrids typically give the greatest fuel savings.
The cost of gasoline where you reside is the second important factor to know. According to Statistics Canada, the average price of regular gas in Edmonton as of January 2019 is $0.92/litre. In Vancouver, a litre costs $1.34. In Toronto, a litre costs $1.02.
How many kilometers you drive annually is the last figure you’ll need to know. It will take much longer to repay the additional expense of a hybrid vehicle if you travel 10,000 less miles per year than if you drive 25,000 more.
Types of hybrids
Hybrids are not created equally. Some people use electricity far more than others. Plug-in hybrids (PHEVs) have larger battery packs that can be recharged from an electrical outlet in comparison to mild hybrids that can charge on their own. PHEVs produce no tailpipe emissions when operating exclusively on electricity. Your driving style has a significant impact on the annual operating cost of plug-in vehicles. A PHEV makes sense if you primarily do short trips (3050 km) and have access to overnight charging.
The calculation
Take the difference in purchase price and divide it by the difference in annual fuel cost to determine whether a hybrid is cost-effective. That will tell you how many years of driving it will take to make up for the higher initial cost of a hybrid.
In other words: Years to recover hybrid cost = Purchase Price Delta / Annual Cost Delta.
A helpful tool for evaluating vehicles is the online “fuel consumption ratings search tool” from NRCan.
We’ll make the same assumptions as NRCan for the examples below: 20,000 miles per year, 55 percent city, ordinary gas at $1.02 per litre, and electricity at $0.13 per kWh.
Toyota Rav4
Costing $32,090, the 2019 Toyota Rav4 hybrid AWD. Costs for a standard Rav4 AWD are $30,690. The difference in buying price is $1,400. Fuel costs for the hybrid will be $1,224 annually, while those for the standard Rav4 will be $1,693. The difference in cost per year is $469.
Continue with us? As a result, 1,400/469 = 2.99 years. After that, owning a hybrid will be less expensive.
Honda Accord
Costs for the 2019 Accord Hybrid Touring are $41,876 plus $1,020 in year fuel costs. The Touring grade without a hybrid costs $37,876 and $1,550 annually. To make up the gap in this example, it would take around 7.5 years. It would take 5.8 years if you reside in Vancouver, where the cost of gas is $1.32 a litre.
You’ll recover the additional cost of the hybrid in 1.2 years when compared to the Accord 2.0 Touring, which costs $40,876 and features a thirstier 2.0-litre engine.
Kia Niro and the trouble with estimating PHEV cost
Fuel expenditures for the standard Kia Niro hybrid are $938 per year. The annual maintenance fee for the front-wheel drive Kia Sportage SUV is $1,877. After only a few months, the Niro hybrid will become more affordable because the difference in purchase price is only $200.
The Niro is also offered as a plug-in hybrid (PHEV), which has annual gas and energy expenses of $33,965 and $753/year. Compare that to a similarly equipped Niro hybrid’s $29,695 and $979 yearly cost. You won’t make back the additional expense until you drive the PHEV for more than 17 years. That may sound terrible for a PHEV, but it can be deceptive. Depending on how you drive, the NRCan annual cost estimate that we are providing here may be drastically off. You might quickly recoup the investment if you generally make short journeys and run down the battery before starting the gas engine. Or, if you never plug the PHEV in, you might never recoup the additional expense. Remember that the NRCan estimate uses an assumed power price of $0.13 per kWh, but if you charge overnight, as most people do, the price in Ontario is now $0.065 per kWh, which is half that amount. The employment of different PHEVs’ gas and electric motors creates comparative challenges, which further complicates problems. But we’re now getting really lost in the weeds.
Is it worth it?
There isn’t a firm rule in this situation, so I apologize if you didn’t want to perform all that arithmetic. As you can see, the time it takes for any hybrid to make up for the extra cost depends greatly on your driving habits, the cost of petrol where you reside, and how far you go. From brand to brand and model to model, there are huge differences in the extra pricing for hybrids. If you reside in British Columbia or Quebec, the government provides sizeable discounts on PHEVs, which frequently tips the cost equation in favor of greener options. However, conducting your research could end up saving you hundreds or even thousands of dollars over the course of your next vehicle.
Is buying a hybrid worth it?
Savings: You will frequently save on fuel prices because hybrid vehicles help you save on gas. There are still other potential savings though! You’ll ultimately save more money because to the tax breaks that many jurisdictions provide to people who drive electric or hybrid cars.
Do hybrid vehicles pay for themselves?
(The figures above are based on 12,000 miles travelled year and $5 per gallon of petrol. The non-hybrid Ford Maverick we tested had an option for all-wheel drive, however the Ford Maverick Hybrid is only available in front-wheel drive. Even a non-hybrid XLT with front-wheel drive costs $1,000 more than the hybrid.)
Not all hybrids provide immediate cost reductions. The Ford Escape SUV and Toyota Camry hybrids both have a four-year payback period, whereas the Hyundai Sonata Hybrid sedan has a seven-year payback period.
The payback period for a Hyundai Tucson Hybrid or Toyota Highlander Hybrid would extend from two to three years if petrol prices dropped to $3 per gallon. The higher resale value of hybrids in comparison to their gas-only equivalents, which can make the equation even more beneficial, is one additional cost-saving factor that is not taken into account in these calculations.
Are hybrids cost-effective?
An energy-efficient electric hybrid car recharges its battery using regenerative braking, the energy released during braking. This reduces pollution while saving fuel. Having said that, there are numerous hybrid car models, all of which offer remarkable savings and advantages for your consumption demands.
How long does it take a hybrid to make its money back?
Is the extra cost justifiable when compared to gas-only vehicles’ prices? Compare a few well-known gas-only 2022 models with their hybrid equivalents to ascertain this:
- Sonata Hyundai SEL
- AWD Lexus NX 350
- Sport/Touring Sport Honda Accord
- Highlander Toyota LE AWD
These cars all feature different gas and hybrid versions, which gives them all something in common.
Hyundai Sonata SEL
The time it would take to offset the difference in gasoline expenses makes this car stand out. Given the $3,850 price difference between the gas-only and hybrid models’ sticker prices and the $740 annual difference in gas savings, it would take 5.2 years for the gas savings to catch up.
The Hyundai Sonata SEL achieves 31 MPG on average, and its hybrid model achieves 47 MPG. In comparison to other hybrid vehicles, the hybrid Hyundai Sonata SEL performs comparatively poorly in terms of covering its cost.
Lexus NX 350 AWD
On the other end of the scale is the Lexus NX. Due to the hybrid model’s $500 price difference from the gas-only model, this vehicle quickly recovers its cost. You can expect to save an average of $1,129 a year at the gas pump thanks to the hybrid’s average MPG of 39 and the gas-only version’s average MPG of 25.
Making up the price difference between these two cars virtually ever makes sense because you’ll save more money by purchasing the hybrid model soon after you drive the conventional car off the lot.
Honda Accord Sport/Touring Sport
Examine something that is a little more in the middle. The Honda Accord Sport gas-only model has a $2,090 price advantage over the hybrid model right away. There is a 26 to 43 MPG difference in mileage, resulting in a $1,024 annual gas cost savings.
According to the calculations, it will take around two years to break even on the cost differential between the vehicle and gas.
Toyota Highlander AWD LE
The Toyota Highlander’s gas-only model does not have a significant sticker price advantage with a $1,450 MSRP differential. Although the MPG for the gas-only kind is 23 MPG and the hybrid gets 35 MPG, they are noticeably different. With the hybrid, you may save roughly $1,004 a year on petrol.
This indicates that it will take roughly 1.4 years for the gas price to equal the MSRP. This vehicle pays for itself relatively rapidly in comparison to others. Additionally, Toyota Highlander insurance costs are lower than normal, thus increasing your savings.
Prius or Corolla Hybrid: Which is superior?
The Toyota Corolla Hybrid, which matches the Prius’ EPA-rated 52 mpg combined city/highway mileage estimate, challenges the Prius’ protracted reign as the best fuel-efficient vehicle. The 56 mpg combined mileage of the lighter-weight Prius L Eco, which uses a different battery, is an improvement. Some may consider the Prius’ estimated fuel economy rating of 49 mpg to be a reasonable trade-off in exchange for adding AWD.
Is the Corolla hybrid a slow car?
Compact hybrid sedans like the Honda Insight and Hyundai Elantra Hybrid are competitors of the 2022 Toyota Corolla Hybrid. Although it is incredibly fuel-efficient and can compete with the best of them when it comes to fuel consumption, it falls short in a drag race. The Corolla Hybrid is slow, but it makes up for that little drawback in a few other ways.
How dependable are Toyota hybrids?
The Toyota Prius, the hybrid crossover that launched the entire trend, will always be associated with hybrid cars. Over the course of two decades, it has even demonstrated its dependability, solidifying its place in the market and winning over customers.
Toyota is known for producing some of the most dependable engines, and the Prius is no exception. A remarkable 10-year/150,000-mile warranty is included with its hybrid battery. It is one of the most trustworthy automobiles available because to its low operating expenses and smooth hybrid powertrain.