First off, I'm driving an Avalon hybrid. Not a Camry. The price differential between the hybrid Avalon and the V6 Avalon (no 4-cyl available) is only $1750.
I drove a 2007 V6 Avalon for nearly 6 years. It's basically the same drivetrain as a V6 Camry, but it has been improved some since 2007. I always drive for good mpg. On the 2007 Avalon, I averaged 27.5 mpg overall. I was getting up to 32 mpg on the highway.
In my 2013 Avalon hybrid, after over 10,000 miles, I'm getting about 43 mpg overall. It's the same kind of driving I did in the earlier Avalon. I drive from 15,000 to 20,000 miles per year.
Doing the math, for me, if I drive 18k miles per year, and if I plug in $3.50/gal. for gas, the hybrid's additional cost is paid back in just over 2 years. At 12k miles per year, it would take just over 3 years for the payback.
There are many variables to figuring payback, and everyone's calculation will be affected by:
- Your driving style's mpg results
- Plug number for cost per gallon of gas
- Annual miles driven
- Whether you compare the hybrid to a 6-cyl or a 4-cyl non-hybrid
- Price differential between hybrid and your comparison vehicle
- Whether you only include cost of gasoline, or also maintenance costs (of which there will be none during my payback period)
- Other variables
I've very satisfied that the hybrid is very cost effective for me. I expect the cost of gasoline in the future will only go up. I expect to actually save on maintenance costs over the 6 to 10 years I may own my Avalon hybrid.
YMMV. PM me if you want my formula for calculating payback. It's pretty simple. You will have to decide for yourself what mpg figures to use for the hybrid and non-hybrid options. I used my actual numbers.