ARE HYBRID CARS WORTH IT? THE ANSWER WILL SURPRISE YOU

If you are looking to buy a hybrid vehicle, thinking it will help you to save money, think again. The reality is that, in some cases, hybrid cars end up costing you more money than buying a gas-powered vehicle.

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HYBRID PURCHASE PRICE

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HYBRID CAR RELIABILITY

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FUEL SAVINGS HYBRID VS. GAS

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PURCHASE INCENTIVES

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OWNERSHIP SAVINGS

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Read The Full Article: ARE HYBRID CARS WORTH IT? THE ANSWER WILL SURPRISE YOU

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More Resources

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ARE HYBRID CARS WORTH IT? THE ANSWER WILL SURPRISE YOU

If you are looking to buy a hybrid vehicle, thinking it will help you to save money, think again. The reality is that, in some cases, hybrid cars end up costing you more money than buying a gas-powered vehicle.

HYBRID PURCHASE PRICE

The car’s cost is the first thing you need to consider when determining if a hybrid will save you money. For SUVs, a hybrid vehicle has an initial purchase price premium of $2,969 compared to a gas-powered SUV.

HYBRID CAR RELIABILITY

Since I am comparing the same make and model vehicle, the reliability for both should be similar. Therefore, there are no significant savings in choosing one over the other.

FUEL SAVINGS HYBRID VS. GAS

To determine if there are any savings here, you need to look at the cost of gas and the number of miles you drive your car. We will assume that a gallon of gas is $3 for regular and that you drive 15,000 miles annually.

PURCHASE INCENTIVES

The next thing to consider when determining if a hybrid is worth it is if there are any incentives. This is critical as we have seen the initial costs of a hybrid tend to be higher.

OWNERSHIP SAVINGS

The last area to look at is ownership savings. This area has little to do with money and more to do with other types of savings.

Read The Full Article: ARE HYBRID CARS WORTH IT? THE ANSWER WILL SURPRISE YOU

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