5 Hybrid Cars That Will Save You the Most Money on Gas in 2024
Hybrids offer some of the best fuel economy you can get in a vehicle. This means more savings for you. Even if the initial sticker price is higher than what you’d find with a gas-powered car, the fuel efficiency can more than make up for that over time.
Check Out: 5 Used Cars You Shouldn’t Buy
Learn More: How To Get $340 Per Year in Cash Back on Gas and Other Things You Already Buy
But which hybrid cars will save you the most money on gas this year? Here are some top picks from Consumer Reports’ recent data.
Lexus NX Hybrid 2024
Typical price range: $41,955 to $57,805
CR MPG: Overall 38 / City 37 / Hwy 39 mpg
CR’s ranking: #2 of 25 in luxury compact SUVs
Looking for a family SUV with great fuel economy? Check out the Lexus NX Hybrid 2024.
You can start seeing some cost savings almost as soon as you drive this vehicle off the lot. The gas-only version — the NX350 — costs about $175 more than the NX350h hybrid. The gas-only version also gets about 25 mpg overall.
By Consumer Reports’ estimate, the hybrid could save you around $689 on fuel alone.
Explore More: 10 New Cars To Avoid Buying in 2024
Be Aware:7 Hybrid Vehicles To Stay Away From Buying
Sponsored: Credit card debt keeping you up at night? Find out if you can reduce your debt with these 3 steps
Ford Maverick Hybrid 2024
Typical price range: $23,815 to $34,855
CR MPG: Overall 37 / City 33 / Hwy 39 mpg
CR’s ranking: #2 of 3 in small pickup trucks
While pickup trucks aren’t generally known for having the best fuel economy, the Ford Maverick Hybrid 2024 breaks free of that stereotype.
The gas-only version costs around $1,000 extra — if you opt for the XLT trim. It does let you tow up to 4,000 pounds, nearly double what the hybrid will allow. However, it’s overall mpg is just 23 and it’ll cost you around $670 more than the hybrid will.
Read More: Avoid These 7 Cars That Will Only Last You Half as Long as the Average Vehicle
Lexus RX Hybrid 2024
Typical price range: $52,235 to $57,045
CR MPG: Overall 34 / City 29 / Hwy 38 mpg
CR’s ranking: #3 of 17 in luxury midsized SUVs
Another luxury SUV with a roomy interior, the Lexus RX Hybrid 2024 is both fuel efficient and a smooth ride. Not only that but its sticker price is a nominal $250 higher than the gas-only version. It might take around six months or so, but you’ll start seeing some serious savings after that.
Toyota Corolla Hybrid 2024
Typical price range: $22,050 to $28,340
CR MPG: Overall 48 / City 37 / Hwy 59 mpg
CR’s ranking: #10 of 16 in compact cars
The Toyota Corolla Hybrid 2024 might not rank the highest in terms of compact cars, but it’s got some truly spectacular fuel efficiency. It’s also reasonably priced compared to many other new vehicles — hybrid or otherwise.
With this car, you’ll start seeing the cost benefits within about a year of purchase. It costs around $100 more than the gas-only Corolla LE and has better mpg that could save you nearly $300 a year on gas. Depending on where you live, it could even cost you less than a comparable electric vehicle.
Toyota Highlander Hybrid 2024
Typical price range: $39,120 to $53,125
CR MPG: Overall 35 / City 27 / Hwy 41 mpg
CR’s ranking: #1 of 21 in midsized SUVs 3-row
Whether you’ve got a big family or take a lot of weekend trips, it’s hard to go wrong with a reliable SUV like the Toyota Highlander Hybrid 2024. Not only is it a comfortable ride, but it only costs about $1,270 more than the comparable non-hybrid XLE (four-cylinder).
When you take into consideration its competitive fuel economy, you could save around $690 every year on gas. Within about two years, you’ll start seeing some significant cost savings potential.
Choosing the Hybrid Car With the Most Savings Potential
A lot of other hybrid cars are also worth checking out — like the Hyundai Tucson Hybrid 2024 and the Honda CR-V Hybrid 2024 — if you’re looking to save money on gas this year. But as you start your search, remember that it’s not all about fuel efficiency. There are several other ways to keep costs down.
“Be sure to research all the available incentives including from the automaker, taxpayer-funded rebates, and discounts on home-charging equipment (if picking a PHEV),” said Brian Moody, executive editor at Kelley Blue Book. “Buying a used hybrid can also save some money as used car prices are trending down.”
You might also want to look into sedans over SUVs or crossovers.
“In general, cars will be cheaper than crossovers and SUVs, and most traditional hybrids will be cheaper than plug-in hybrids,” added Tony Markovich, senior editor for autos at U.S. News & World Report. “If you’re eyeing a plug-in hybrid, keep in mind the costs of installing a home charger, which we highly recommend if you go that route.”
Be sure to shop with a clear budget in mind, too. And remember, it’s not all about the upfront costs or the fuel economy.
“When deciding which type of hybrid vehicle — or any type of vehicle for that matter — that is right for you, consider your personal preferences, location (i.e., charging infrastructure), driving habits, commute factors, and budget,” said Renee Horne, chief marketing and customer experience officer at Chase Auto.
“There are two types of costs to consider for all vehicles, upfront and ongoing costs, but the specifics differ for hybrid and electric vehicles. Typically, hybrids cost more up front than their traditional gas-powered counterparts but save money over time due to generally lower maintenance costs and savings at the gas pump. That said, when deciding on a model, ensure your budget addresses not only the purchase price but also the ongoing ownership costs.”
More From GOBankingRates
I Was Retired, but Wasted Big Money On These 3 Things and Had To Go Back To Work
5 Reasons You Should Consider an Annuity For Your Retirement Savings
This article originally appeared on GOBankingRates.com: 5 Hybrid Cars That Will Save You the Most Money on Gas in 2024
