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Can You Really Save with a Hybrid Car?

by Alice C. Woodhouse
June 02, 2009
Hybrid cars are given rave reviews for their fuel efficiency, eco-friendliness, and the savings that they can bring over time to their owners. There are people who switched their luxury cars for these go-green vehicles to do their part in helping the environment. Yet there are still some who shrug and are non-committal if asked if they have plans of trading in their economy cars for a hybrid anytime soon.

1. Experts at Consumer Reports have advised against buying hybrids if you're the type who's looking into immediate gains and savings. The rave reviews might praise the hybrids but these cars on the market can set your budget back with the high price tag, despite the hybrid tax incentives offered by the government. Consumer Reports have compared two 2003 models, the 36-mile per gallon Honda Civic Hybrid and the 29-mile per gallon Honda Civic EX. Side by side, the former sells for around $20,000 and the latter is $18,500.

2. Wait until car companies bring in better hybrid in the next year or two. There's a very high possibility that hybrid cars manufactured early are vulnerable to depreciation. This is because car manufacturers are upgrading powertrains, improving handling, and milage of these hybrids as we speak. The premium is too high for just a slight difference in mileage from economy cars. There's still some hesitation on other consumers too, as it would take too long a time for their hybrid investment to see some pay back, not just for the price tag but for getting insurance for it, too.

3. Spending money on a hybrid right now will crunch your finances tight, even when you're using a gas guzzler SUV. If you're desperately looking for ways to trade in your SUV, you're better off with a compact economy car rather than buying a hybrid car. It's not very feasible if you're in it to save money, though it remains as an awesome pro-eco statement.

There are those that propagate ditching all cars except hybrid types, but there are those who still are unsure about how hybrid owners can recoup and save with their hybrid purchase. One thing is for sure that hybrids of today have a long way to go from shifting to "transition technology". There are still many ways we can contribute without shelling out thousands of dollars for a car. If you really want to save until a better hybrid car comes along, do the environment a favor and utilize bicycle, public transport, walking, and at the very least car pooling to be able to make a difference!

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Can You Really Save with a Hybrid Car?




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