Just like in 2011, all signs are the price of used compact cars and hybrid cars is going to jump because of rising gas prices. Don't buy a compact or hybrid used car for the wrong reasons like rising gas prices because it may not make financial sense in the long term.

According to KBB.com, as of March 19, 2012, "used compact-car values are on the rise and could reach the same 20 percent gains seen in 2011.

According to Kelley Blue Book's Book Market Report for March 2012 values of used fuel-efficient compacts increased a modest 0.4% in February; however, values picked up significant momentum during the last weeks of the month. In the last week of February, used compacts increased 1.3%, while hybrid cars increased a more substantial 3.6%."

A one- to three-year old used hybrid's average value increased from $16,014 to $16,974 in the space of four weeks. A used hybrid you could buy on Feb. 3 costs $960 more on March 2. It was, theoretically speaking, the exact same car with all the same features and it cost almost $1000 more because it was a hybrid and gas prices were rising.

Go a little bit smaller into the sub-compact range and prices aren't going as crazy. Americans want to be more fuel-efficient in their driving but they aren't quite ready to adapt to the sub-compact market and are even hesitant about the compact market.

Lets compare the 2010 Toyota Prius, a midsize sedan, to the 2010 Hyundai Accent, which is defined as a compact by the EPA.

As of March 19, 2012, according to KBB.com, a 2010 Prius is going to cost $22,934 while a 2010 Hyundai Accent is going to cost $9240. Both prices were for certified pre-owned vehicles because it is most likely you are only going to find certified pre-owned vehicles in the used car supply stream.

Why is that? Certified pre-owned vehicles are the big profit centers for most new-car dealerships now (second only to service). Dealers are going to do their best to acquire the vehicles that are in highest demand and turn them into certified pre-owned for the most return on their investment.

I selected the Accent for comparison because it's not that much smaller than the Prius, in spite of the EPA size classifications. The Prius has a passenger volume of 94 cubic feet while the Accent has 92 cubic feet. The Prius does have the edge in luggage volume at 22 cubic feet to 16 cubic feet.

So, as you can see, there is a $12,994 difference in price. For giving up a little bit of luggage space, you're saving a lot of money that will take years to make up at the pump.

Being somewhat pessimistic, I used the EPA's fuel economy formula (15,000 miles a year at 45% highway driving and 55% city driving) with $4.50 punched in as the average price of regular fuel. At that number, your annual fuel cost for the Prius, which is rated at 51-mpg city and 48-mpg highway, is going to be $1350. It's higher for the Accent, which is rated at 27-mpg city and 36-mpg highway, at $2200.

That's an $850 difference. Divide that into the $12,994 price difference and it's going to take you 15 years, three months, to make up the difference in fuel savings. All of that doesn't take into consideration the cost of borrowing the additional $12,994 at 6% interest. That's going to be an additional $2078 difference or, in terms of years, almost another 2.5 years. That puts you at almost 18 years to make up the savings.

Just to have a little more fun. With $12,994 (not factoring in the interest rate and all those extra costs), you could buy 2887 gallons of gas at $4.50 a gallon. That's almost six years worth of gas based on the EPA figures.

Resist the hype. Take a deep breath. Now is not the time to buy a used hybrid. It doesn't make financial sense even with higher gas prices coming down the road. Used hybrids are over-valued at this point. Buying one now would be a financial mistake that will take you years to recover from.