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Can a hybrid save you money throughout ownership? It’s a good question. As many Americans look to maximize the value of their purchases, a hybrid is a strong contender when it comes to vehicle selection. In addition to benefits including lower emissions and responsive power, there are some monetary perks to owning a hybrid.
Here are some of the areas in which a hybrid can help keep money in your wallet:
Since a hybrid utilizes both an electric and gas engine to generate power, it will use less gas overall. The electric engine is engaged during slow-and-go driving, cruising, and regenerative breaking, using no gas during these actions. You’ll stretch every tank with the electric engine, having fewer stops at the pump, boosting fuel economy and ultimately saving money.
Hybrids are built to last. It’s true that there is regularly scheduled maintenance that needs to be completed, but that is true with every vehicle. With fewer moving parts to maintain or potentially break, and a battery that can last up to 10 years or 150,000 miles before needing to be replaced, hybrids can end up saving owners money in the maintenance department.
The state of California offers quite a few tax incentive opportunities for EV and hybrid purchase. The Clean Vehicle Rebate Project (CVRP) is a well-known option, and it gives rebates from $1,000 up to $7,500 for the purchase or lease of eligible zero-emission vehicles, including electric, plug-in hybrid and fuel cell vehicles.
Vehicle depreciation can happen the moment you drive off the lot. While it does happen for hybrid vehicles, the amount of deprecation is not as severe. Used hybrids are in high demand, so they’ll retain more of their initial value than their conventional gas engine counterparts.
Time is money! A hybrid vehicle will reduce your commute time by allowing you to take advantage of High Occupancy Vehicle (HOV) lanes, sometimes called carpool lanes, without having to have any additional passengers. Plus, some places have special reserved parking at the front for low emissions vehicles. If you’ve got a Plug-In Hybrid Electric (PHEV), you might also find a charging station in these prime parking spots. A shorter commute with faster lane access and ease of parking will save you time as well as gas, making your commute cost less overall.
Hybrid ownership can be beneficial, including offering financial advantages. Drivers will spend less money at the pump, have lower maintenance costs, be able to take advantage of tax incentives, enjoy reduced depreciation risk and be able to take advantage of HOV and parking initiatives to shorten commutes. These all will help hybrid owners appreciate the value of their vehicle.
Contact any of our dealerships to learn more about available hybrid vehicles and to schedule a test drive.
While great effort is made to ensure the accuracy of the information on this site, errors can occur. Please verify all pricing information with a customer service representative. This is easily done by calling us or visiting us at the dealership.
Customer may not qualify for ALL Rebates shown. Some rebates are stackable and others can and cannot be combined. See Dealer For Complete Details.
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