Does Going Green Also Mean Lowering Car Ownership Costs?
by admin | Posted on Tuesday, September 22nd, 2015
There are a lot of different car models that are available from different car makers that have been putting out hybrid vehicles for over a decade now. One of the biggest incentives for car owners to upgrade their vehicles is the notion that because it costs less for fuel, it should be the case that your overall costs drop.
That certainly was the case last decade when the government offered new car incentives that made buying a hybrid a partial tax credit. Today, it is the case that your costs will also go down if you shop carefully. Here are some areas to consider when planning to lower costs by purchasing a green car:
Apples Are Apples: You can certainly expect to pay a premium for a hybrid from most manufacturers. If you are in the market for a large car, your costs can go even higher. So when you make your choices, it can be useful to remember that comparing a large car that uses gasoline with a small hybrid is not the same as choosing a similar model size.
Fortunately, manufacturers like Toyota have come up with the Toyota model cost of ownership guide that allows you to compare all Toyota models against each other and determine where you will save money and how much you will save.
Length Of Ownership: Thinking about how long you plan to own your car before you go out and buy one will give you a good feel for how much money you will save over the life of the vehicle. It will also help you to understand what to look for in warranties and covered service when you are shopping. In most cases, you will find that the coverage varies among manufacturers. So finding a manufacturer with a longer warranty on batteries when you plan to keep the car longer than seven years can help you save money on your total cost of ownership.
Your Driving Habits: There is new hybrid technology that is designed to use the gasoline engine to help the batteries recharge while the engine is being used. This allows you greater range during the day, although it isn’t as fuel efficient as using an electric motor alone. Therefore, although the choice won’t always come down to range versus fuel cost, knowing your driving habits should allow you to tailor your purchase decision in one direction or the other.