Driving a hybrid vehicle has a positive impact on the environment—and it can also benefit you financially. Lots of prospective owners ask, “How much would I save with a hybrid?” We’ve compiled some of our more recent research and findings to help you understand the potential savings.
- You might assume you can’t afford a hybrid but will be surprised by the reality of the costs. Most hybrids are “reasonably priced starting at $27,100.” (Source: mashable.com)
- An electric battery leads to greater efficiency—and better gas mileage. On average, hybrids achieve a 20-35 percent better gas mileage than conventional cars. (Source: greenamerica.org)
Incentives and Tax Credits
- Many states and local governments offer incentives for buying a hybrid vehicle, in addition to a federal tax credit up to $7,500 per vehicle. (Source: Carfax.com)
- Certain insurance companies will offer discounts to hybrid car owners. For example, Travelers Insurance offers a discount of up to 10% on auto insurance if you own or lease a hybrid or electric car, saying, “You’ve made a conscious decision to have a positive effect on the environment, and now it’s your turn to be rewarded.” (Source: Travelers.com)
- Think any repair costs will be through the roof? Think again: According to Consumer Reports, “Hybrid owners shouldn’t expect any higher or more frequent maintenance or repair costs than owners of conventional cars.”
As you can see, it pays to opt hybrid—and it is no more expensive than choosing a conventional vehicle. If you are weighing the decision to buy a hybrid vehicle, feel free to contact the team at Cleveland Hybrid for information about expected maintenance and services.