Wednesday, June 4, 2008

Calculating the True Cost of a Hybrid Car

Often, I will ask a friend or co-worker that purchased a new car, if they considered a hybrid. The reply has been, "I did, but it was still too expensive after factoring in cost savings on gas". What can you say to that to those who don't have - Reduce global warming - at the top of their to do list? Well, there may finally be a rational response. Yahoo! Green featured an article yesterday that goes beyond considering only gas savings in the buying decision. Some of the other cost factors to consider:

  • Resale value - hybrids typically hold value longer than most vehicles

  • Lower interest rates - being offered by some lenders and credit unions

  • Lower insurance premiums - many insurance companies are offering "green" rates

  • Tax credits - federal government offering up to $3400 on first 60,000 vehicles manufactured

  • Employer discounts - some employers offering special incentives for hybrid users

The article provides an example of spreadsheet comparing a hybrid Prius to non-hybrid Honda's and Civic's for those of us who are visual creatures. Please share this information with anyone you know that may be in the market for a new ride and a great value.

1 comment:

Sara Paxton said...

Hey i really like your blog. nice informative article thanks for sharing.

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