I’ve spent the last couple of days focused in my pursuit of a new hybrid vehicle. So far I’ve come to learn some interesting information to share about my top two prospects, the Honda Insight and the Toyota Prius.

I’m primarily considering the 2010 models of each, and I have to first say that both are great cars. Each has their own strengths and weaknesses. The Prius is a great automobile and probably the more refined of the two. It has a nice interior and a far greater option list than does the Insight. From a solar powered sunroof to leather to Navigation and all the many more available power gismos, it’s not hard to custom create the Prius with every option a person could desire. The mileage is also excellent, with EPA numbers around 50 in combined driving. According to the governments fuel economy sight, owners are even hitting the 50 MPG number and more, so hypermilers are indeed well exceeding the EPA already. This said, the Prius also seems much higher priced by comparison. The MSRP for a base Model II Prius, which I would say is pretty similar to an Insight EX, but without Alloy Wheels, is somewhere around $23k, and beyond that the dealers aren’t currently interested in dealing much from MSRP. This is especially true with the Prius III and Prius IV models with the solar sunroof. Most dealers on the web are selling those at almost sticker or even a little above.

The Honda Insight, by comparison, isn’t quite as substantial a vehicle as the Prius. Honda doesn’t get into all the package options, but rather just has 3 choices. The LX model, which is only around $20.5k is a pretty nifty vehicle. It doesn’t have many of the goodies most of us would want, but I am impressed with what is offered for the price. This said, I’m more impressed with the EX model, which comes as the EX and the EX with Navigation. It includes all the features of the LX, but also adds cruise control, alloy wheels and most importantly a full functioned trip computer. This computer is really nifty and provides detailed info on real time MPG’s and suggests many ways that a driver can improve their driving as they drive. The cost is about $1500 higher, at an MSRP of $22k, but seems to me well worth the money. As for mileage, the EPA numbers are 40 city and 43 highway, with a 41 average according to the sticker. But – after checking the government’s fuel economy site, most owners are averaging almost 50 MPG in combined driving with their Insights. That’s almost the same as the 2010 Prius.

I’ve also found that most Honda dealers are willing to sell their Insights at around a $1400 discount off MSRP. Toyota doesn’t currently offer any financing or incentives for the Prius (and it doesn’t sound like they need to), but Honda is also offering 1.9% financing for 36 months or 2.9% financing for 48 or 60 months.

I do wish the Insight came with a leather interior, but I’ve been told that that’s only about an $800-$1000 add on at an upholstery shop. The Insight does also offer Navigation on the EX model, and in my first test drive, I was pretty impressed. The navigation models add steering wheel controls for the stereo and CD and the navigation seems pretty intuitive to use. Navigation does add about $1800 to the sticker price, but might well be worth the higher cost for those who would enjoy it, including myself.

For the moment, I’m mostly focused on the Insight as my future Hypermiling vehicle. I’ve been kicking around numbers with several local dealers, and it seems that the closer I get to the end of the year, the more interested they are in dealing. And honestly, just learning about these vehicles is a bunch of fun. I can’t wait til the day I’m a hybrid owner too!