Saving Money With A Hybrid Car

Posted by Nick Niesen on October 27th, 2010

Hybrid Cars not only seek and help out the environment, but they can also save the consumer money through government incentives and other motives, all which add to the worthy reasons why consumers should be investing in this low fuel expenditure and unique car. The cars are being seen as a car of the future and certain states in America are giving advantages to owners of them.

In terms of tax savings, consumer reports testify that hybrid car owners can save up to $3,400 on taxes when they buy a hybrid car instead of a regular vehicle. There are also now incentives to having a hybrid car because of the insurance; many insurance companies have claimed that they will be offering a policy discount to customers who drive hybrid cars, in some cases up to ten percent. Hybrids can also save money because a $284 billion highway bill has been passed into law that contains a provision allowing states to open high occupancy vehicle lanes to all hybrid cars rated at least 45 miles per gallon, even if there is only one passenger. A few states in the Unites States such as California, have decided to give incentives to the owners of hybrid vehicles in the form of a cut in annual registration fees, excise duties and also free parking to the hybrid vehicles.

Hybrid cars provide reduced running costs because of their lower fuel expenditure which means that the consumer will save in gas costs throughout the year. Hybrid cars can go more than six hundred miles before the gas tank needs to be refueled, which saves both time and the money of the consumer. A study found that putting together the costs of financing, fuel, insurance, state taxes and license fees, repairs and upkeep, over five years a hybrid Prius, for example, will cost $13,408 fewer than a similar size non-hybrid sedan, which means that hybrids will save money for the consumer over a few years.

It is clear that while hybrid cars are playing their part to save the environment, hybrids also save the customer money, which is a key incentive when choosing to purchase one of the innovative hybrid vehicles on the road today. If more people choose to purchase the vehicle, more incentives may be offered by the government and individual states. Hybrid cars may well be the cars of the future years to come and benefit our environment, as well as saving the consumer money.

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