Hybrid cars are the cheapest on the road to drive, according to a new study.
Based on analysis of more than a million 3-year-old cars, the iSeeCars.com study found hybrid models cost less than $3,000 for every 1,000 miles driven per year. That’s well below the new-car average of $3,593 and less than half that of EVs.
That average hybrid cost to drive beat gas models, costing 15% less to drive, and blew plug-in hybrids and purely electric models out of the water.
The research found gas-powered cars cost a tad over $3,500 per 1,000 miles, plug-in hybrids more than $5,000 and EVs more than $6,400.
Hybrids have an advantage over other fuel types due to many of them, including the Toyota Corolla, costing much less to buy, plus the fact that they’re driven the most, likely due to lower fuel cost, iSeeCars said.
To arrive at its findings, the online automotive search engine and research provider examined odometer readings and historical new-vehicle prices for 3-year-old cars sold between November and this past April. It determined that the average new-car price is $44,223 and average annual mileage 12,307.
EVs are the most expensive to drive because they cost the most to buy on average and tend to be driven the fewest miles, iSeeCars said. Their average price new is $68,692, and the average is driven under 11,000 miles per year.
Electric drive trains appear to limit driving of pure EVs, the company surmised.
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