With oil prices going berserk, you are probably thinking of trading in your car for something with better gas mileage- a hybrid car perhaps. And why not? Hybrid cars are the most fuel efficient cars on the road today. And this is perhaps your reason why you want to own a hybrid car.
But if you want to buy a hybrid because you want to make back your investment, then don't buy one. Because the truth is, it may take you 5 to 20 years before you get even. The price of a hybrid car is few thousand dollars more compared to its non-hybrid counterpart. And this extra amount is more than the total amount of fuel you'll consume in several years. When you own a hybrid, you still go to a pumping station. You can definitely save on gas, but not to the point that you are actually getting back your investment; at least, not for now.
However, there are lots of reasons why you should be a hybrid. One, the performance of hybrid cars has actually caught up with the conventional gasoline-powered vehicles.
Two, more and more hybrid cars are being manufactured so you have a wider selection not just between the Toyota Prius and the Honda Civic Hybrid. There are midsize hybrid cars like the Toyota Camry Hybrid, Nissan Altima Hybrid, and the Lexus GS 450h if you want the more luxurious one. For SUV hybrids, Ford Escape Hybrid, Mercury Mariner Hybrid, Chevrolet Tahoe Hybrid, Toyota Highlander, and Lexus RX 400h are your choices.
Three, you can actually help the environment when you own a hybrid car. It has low to zero emission ratings. Ever heard of the greenhouse effect? The planet is said to be warming and the climate is changing. So if you want to do your part on saving the planet, a hybrid car would be a good start.
Finally, whether you are a green advocate or not, you can actually get from $1000 to $3000 of tax credit reward when you buy an energy saving vehicle including hybrid cars. The amount of tax credit reward depends on the type of hybrid car you buy and the formula used to compute this amount is different with passenger cars and SUVs. If you want to learn more about the tax credit reward, consult your tax or accounting professional.
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