Are Hybrids Cars Worth Buying?
To fully understand whether hybrid cars are worth buying or not, we have to consider several factors. Let’s check them out.
Price: Hybrids are generally more expensive than conventional cars. This is because they cost more to build. These costs are passed on by the manufacturer to the customer. On average, the price of a hybrid is close to $5,000 more than its conventional counterpart. If you consider the purchase price alone, then you may feel that hybrids are overpriced and not worth the money for what they offer.
Running costs and reliability: Continue the comparison between conventional and hybrid cars, and you’ll find reliability levels are about the same. Maintenance costs are also similar. You will notice a difference in the brakes a hybrid uses. Because hybrids use regenerative braking, the brake pads on hybrids last longer. Several insurance companies also offer discounts to hybrid car owners. Hybrid powertrains also come with a 100,000 mile or 10-year warranty.
Savings: Instead of just counting the cash saved, let’s think a little broader. Hybrids save time because you don’t have to visit gas stations as often. Businesses and organizations often offer special parking space and other perks to hybrids. You can drive it in the HOV lane, thereby avoiding traffic, saving time, and avoiding stress. Your smaller carbon footprint can help protect the environment. If these factors matter to you, then you should consider a hybrid vehicle.
Gas savings: We’re always hoping that our cars deliver excellent fuel-efficiency. If you drive approximately 20,000 miles each year and the cost of a gallon of gas is $2.55, your annual gas cost is about $1759, considering fuel-efficiency of 29 miles per gallon for your conventional car. A hybrid of the same car will give you about 43 miles per gallon. That means your annual fuel cost is $1186, saving you about $600 per year.
Incentives: Dealers offer cash back rebates on certain makes and models of hybrid cars. You may also get a tax credit from the federal government. This ranges from $2,500 up to $7,500, depending on the type of vehicle. There are also some states that offer tax incentives for fully electric and plug-in hybrid cars.
