Unless you’re an accomplished theoretical mathematician, determining how much a hybrid car will cost you over its estimated life versus a gas-powered car is enough to give you a serious brain cramp.

Sticker, Sticker

The first thing to consider is sticker price and any incentives that are being offered. This used to be a major hurdle for hybrid cars as carmakers were staunchly against offering any kind of break for consumers. However, as discussed in this article, this is slowly becoming less of a problem. It shouldn’t be too long until you see equivalent rebates and incentives on hybrid cars and hybrid trucks as you do on standard vehicles.

Are You a Hard Drivin’ Man (or Lady)?

The second (and probably most important) issue is how much you drive. It doesn’t take a quantum theorist (rocket scientist is solo blasé, isn’t it?) to figure out that the more you drive, the more you’ll save by driving a hybrid. If you only drive 5,000 miles per year and price is an issue, you might want to put your environment-saving plan on hold. If you drive over 15,000 miles per year, you might want to consider opening up the old’ checkbook. Your long-term savings probably offset your upfront cost of your hybrid purchase.

At 15,000 miles per year, you should offset the high price of your hybrid car in two years or a little less, depending on the average price of gas. We’re currently inching up to $3.00 a gallon and expectations are $3.50 or more by midsummer. If you’re like the average consumer, you will keep your new hybrid in excess of two years. Every day after the breakeven point of two years is money in your pocket.

While keeping the two above factors in mind, you’re on your way to saving a little cash. However, the example above compares your standard hybrid to your standard gas-powered auto. Things start getting a little hazy when you compare hybrids to highly fuel-efficient gas guzzlers. It could take more than eight years to hit breakeven with a Honda Accord Hybrid versus a gas-powered Honda Accord (using 15,000 miles driven and the current average price of gas).

The deciding factor should be your opinion of the stability of gas prices in the foreseeable future. The higher you expect gas prices to climb, the more confident you should be in pulling the trigger on your hybrid purchase. You think the oil market will correct itself and prices will plunge? Close your checkbook and start looking at muscle cars (or something a little more environment-friendly).

Dodge Uncle Sam

The third thing to consider is the ever elusive tax credit. You could be in store for as much as $3,150 in credits. In case you aren’t the most tax savvy, a tax credit is a dollar for dollar reduction in your tax liability. Let’s just call this a one year windfall for purchasers of new hybrid cars and hybrid trucks.

These credit are currently limited to the first 60,000 hybrids sold by a specific carmaker (Congress can always up the ante, though). Toyota is the only manufacture at the time of writing that has exceeded this figure, so Toyota credits are hard to find.

Does Your Mechanic Want a Taste, Too?

The fourth thing to consider is repair costs. New technology is almost always more expensive to repair. However, the mania regarding expensive hybrid car repairs may be a bunch of hullabaloo.

The main concern for hybrid car owners is expensive battery repairs. Car manufacturers have gone a long way to battle this issue by offering more than appropriate warranties on batteries, some as long as 10 years and 110,000 miles for all hybrid components, not just the battery pack.

Some repairs may even be less costly. Regenerative braking systems on hybrid vehicles lessen the need to brake. Due to this, you aren’t required to shell out for expensive brake jobs as often.

For many consumers, price isn’t king when it comes to a hybrid purchase. Environmental concerns and fear of the dreaded Gas Man prompt them to freely purchase a hybrid vehicle even though straight economics might suggest otherwise. Other consumers just want the latest and greatest. You’ll have decide for yourself what’s best for you. You’ll be on the road to a smart decision if you include the above factors with your own concerns and needs. Either way you go, make the best decision for yourself. That’s the best you can do.