This work analyses the economical dynamics of an optimized battery degradation management strategy intended for plug-in hybrid electric vehicles (PHEVs) with consideration given to low-cost technologies, such as lead-acid batteries. The optimal management algorithm described herein is based on discrete dynamic programming theory (DDP) and was designed for the purpose of PHEV battery degradation management; its operation relies on simulation models using data obtained experimentally on a physical PHEV platform. These tools are first used to define an optimal management strategy according to the economical weights of PHEV battery degradation and the secondary energy carriers spent to manage its deleterious effects. We then conduct a sensitivity study of the proposed optimization process to the fluctuating economic parameters associated with the fuel and energy costs involved in the degradation management process. Results demonstrate the influence of each parameter on the process's response, including daily total operating costs and expected battery lifetime, as well as establish boundaries for useful application of the method; in addition, they provide a case for the relevance of inexpensive battery technologies, such as lead-acid batteries, for economy-centric PHEV applications where battery degradation is a major concern.