Hybrid and electric cars have gained in popularity in the last decade as a consequence of high gas prices. But their great gas mileages often come with higher car prices. There may be savings, but how much and how long before those savings are realized? Suppose you are considering buying a Honda Accord Hybrid, which starts around $31,665 and gets 48 mpg. A similarly equipped Honda Accord will run closer to $26,100 but will get 31 mpg. How long would it take for the Prius to recoup the price difference with its lower fuel costs,
assuming you drive 800 miles per month?