Can Hybrids Save you Cash in the Long Run
Over the last few years, hybrid cars have become increasingly popular. And rightfully they should be. After all, our dependence on foreign oil supplies has forced us all to feel the pinch at the pump, and, there are mounds of research to show the environmental damage being caused by our love affair with the automobile industry. But before you run out and purchase a new hybrid, you should consider the most up-to-date information available, to make certain that your purchasing decision is one you won’t regret.
Spend More, Save More
Whether purchasing a hybrid vehicle will save you loads of money in the long run is a highly debated topic. Some feel, hands down, that purchasing a hybrid will solve all of the problems associated with driving a car, and will keep money in your pocket. Others are more skeptical, and point out that, even if hybrid cars are a step in the right direction, they don’t necessarily tell the whole money-saving story yet.
There are plenty of pros and cons on both sides of the hybrid buying issue. Depending on your concerns, you may find some issues to be of interest, while others aren’t. The drawback most often cited when it comes to purchasing a hybrid is that it is more expensive than purchasing a regular car. Additionally, because hybrids haven’t been around as long, it is hard to project what it will cost to have repairs done after the warranty has expired. Hybrids, which run off of both gasoline and batteries, could end up being more expensive to repairs.
How it Saves
Although some may feel they are spending more just to save at the pump, that is only one way in which you can save money by driving a hybrid. Additionally, it could be more cost-efficient when it comes to the amount of maintenance the hybrid needs. Some auto insurance agencies are also offering discounts to hybrid drivers, so you may save additional money there.
Perhaps one of the best money-saving features of a driving a hybrid is their ability to retain their value better than conventional cars. If that holds true, you should get more when you are ready to sell your hybrid outright or trade it in on a newer model.
One study referenced by an environmental site suggested that owning a Prius would save you more than $13,000 over a five-year period, or 70,000 miles, as compared to a traditional car like a Ford Taurus. If you are considering buying a hybrid, weigh the pros and cons, then see what you come up with. And if you are environmentalist, your number one concern will be doing the least harm to the planet, and that is priceless.
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