With the economy slowly falling into a rut, many people today have issues spending money, or lack there of. Rising food prices, the declining house market, increasing national debt all add to the money troubles of the average American family, but one issue outweighs the others; ascending gas prices. A hybrid car may seem like the best possible choice, but what exactly is a hybrid car? A hybrid car is a vehicle that uses more than one fuel source, almost all are both powered by gas, and electricity. This means the car uses less gas than a normal gasoline engine, and also emitts less smog into the air. Car companies, and economists alike claim buying a hybrid car is the best choice for struggling families, but is it really worth the hype?
In order to determine if buying a hybrid car is the best choice for your family, you must balance out two things.
1. The price of the average hybrid car.
2. The potential amount of money you would save from buying a car that uses less gasoline.
On average, hybrid cars cost $1,500-9,000 more than normal gasoline fueled cars. Also, more advanced hybrids cost more than mild ones because they use more expensive technology. Some other reasons hybrids on average cost more than fuel-engine cars are: hybrids are new to the market, and used availability is limited, hybrids usually come fully equipped with all that the buyer desires, and since hybrids are hot on the market dealerships have no need to decrease the price. Other expenses are slightly higher insurance and the possibility of increased cost to fix a hybrid because special technicians are almost always needed.
The savings that come along with a hybrid car are definitely present too, many drivers are able to use special roads or lanes, many hybrid owners get tax breaks from the government, and also hybrid cars obviously use less gas. A few areas in the United States have come to the conclusion of high-occupancy vehicles (HOV) lanes or roads specialized for people who use cars such as hybrids. The government also gives tax breaks to people who own a hybrid car because they emit less smog into the air. The amount saved ranges from $250-$2,600.
In conclusion, the amount of savings that a hybrid owner takes depends on the driver themselves. Even though hybrid cars usually earn back their value within 5 years, the total amount balance depends on how often the car is used. A car that is driven more will obviously earn back its cost much faster than one that is barely used at all. So before you conform to the trends of hybrid cars, think to yourself if buying one is really suited for your lifestyle and take into effect the costs you could potentially save.