Worried with the rise in gas prices, are you considering buying a new hybrid car? Hybrid cars are fast becoming a craze among car buyers, a panacea to rising energy prices and an effort to reduce atmospheric pollution. However, before you select your new hybrid car, you should check whether it is suitable for your budget and meets your mileage needs.
Buying a hybrid car is not necessarily cost effective. The premium that you need to pay for a hybrid model is much higher than the premium you pay for a conventional model. The premium on a hybrid model is between $1,700 and $14,000, the average being around $6000. The premiums are meant to help the car manufacturers recover a part of the high cost involved in making the high quality hybrid engines. However, given the escalating demand for hybrid models, the high premium in current times often reflect the shortage in supply of the models. With the continuing inability of the carmakers to meet the growing demand, it is unlikely that the high premium will dip significantly in the near future.
Some new hybrid car models are extremely fuel efficient than the conventional car models. Honda Civic, Yukon and the Tahoe hybrids have greater fuel efficiency than the traditional models. However, the fuel efficiency of hybrids such as the Chevrolet Malibu is no different from the conventional four cylinder models. It has been found that the fuel efficiency of hybrids work best in a typical city environ, where you have to stop and start your car frequently at the traffic signals. However, its fuel efficiency falters significantly on open roads. Lexus GS 450h is one of the few hybrid models that are designed to provide sustained propulsion and instant torque.
To reduce the volume of greenhouse gas emission, federal, state and local governments offer several incentives to hybrid car owners. Federal tax credits are given for hybrid cars based on the model’s fuel economy. Several local governments offer free or reduced parking rate for hybrid cars. Several companies encourage their employees to purchase hybrid cars by offering cash back incentives.