Will a hybrid car save you cash?

Shawn asks:
When it comes to hybrid cars, of course everyone wants to do what is best for the environment. But how much money could an owner actually save on gas purchases by buying a hybrid car?
Cory says:
Dear Shawn,
That is a great question and one that every potential hybrid buyer should ask. As it stands right now hybrids are not a practical money saver. That's right, trying to save money is not a good reason to buy a hybrid. Actually, the opposite may be true. With what you have to spend on any hybrid above and beyond what you spend for a comparable traditional gas powered vehicle, the saving just do not ad up. Here is an example: the topselling hybrid and the symbol of the hybrid movement is the Toyota Prius with claims of up to 50 MPG. The purchase cost of a new Prius is about $25,000. Right now used ones are actually selling for more because of short supply. A similar sized combustion motor vehicle is the Toyota Corolla with a rating of 34 MPG highway. It sells for about $17,000 for a basic model. That's a $7,000 swing. Lets say you are average and drive around 15,000 miles per year; the Corolla's annual fuel cost at $4.00 per gallon would be $1,764. The Pruis at the same useage would cost $1,200 per year saving you $564 per year. At this rate it will take you 12.4 years to just get even. Most people do not keep a vehicle for 12 years and 180,000. To me the economics to not make sense, however if it is a green thing then it may be worth it to you. All I am saying is it has to be about more than the money to make a hybrid work for you. Good luck and good shopping.