Wednesday, February 10, 2010

The Value of Hybrid Cars: Are They Right For You? by Kristin Armstrong

First introduced in the U.S. in 1999, hybrids have steadily grown in popularity. The growing accessibility of hybrid cars is making them a more common sight on the road. In fact, there are more than 20 available hybrid models with more on the way. Is one of these vehicles right for you?
Hybrid cars are known for their environmental benefits, and this is a very popular reason for purchasing one. However, they also tend to cost more, so they may not be a good fit for everyone. The decision to purchase a hybrid car should be based on variety of factors, not solely on price or the environment. With that in mind, here are some features to consider:
How does a hybrid car work?
A hybrid contains a small electric motor, a gas engine and a battery. The electric motor powers the vehicle at low speeds. The gas-powered engine kicks in at higher speeds and for swift acceleration. The gas engine and the act of braking generate electricity stored in the battery for later use. When you're sitting at idle, only the battery powers the car. The goal is to run the car as efficiently as possible, using the minimum amount of energy.
Better gas mileage
One of the most popular features of a hybrid car is its limited use of gasoline due to its dual electric/gas motor. Because of the battery and electric motor, you will probably use gas less often. Therefore, you'll fill up the tank less frequently. Plus, being able to travel farther on a single tank of gas saves you time.
Reduced emissions
Lower vehicle emissions are inextricably tied to better gas mileage. Since a hybrid burns less fuel for power, it releases fewer emissions into the air. This is a particularly appealing feature to hybrid buyers who are concerned about the environment.
Unique batteries
These specially designed batteries come with a longer life than traditional batteries. Many hybrid manufacturers offer 8-year/100,000-mile warranties on their batteries; testing shows they can last even longer. On the other hand, in the event the battery fails, it can cost between $1,500 and $5,000 to replace, depending on the manufacturer.
Competitive power
Hybrids used to be considered underwhelming in terms of power, but newer generations of hybrid drivetrains are packing more horsepower to give their vehicles competitive acceleration. Smaller hybrid sedans and compact vehicles can easily keep pace with their gasoline-powered counterparts. And if you're interested in bigger SUVs and trucks, major manufacturers have installed hybrid drivetrains that still allow you to haul plenty of people and gear. A hybrid may never be able to compete with the towing power or payload of a heavy-duty pickup, but they've come a long way.
Increasing space
Early versions of hybrids sacrificed interior room for the sake of big battery packs. Early hybrids in the mid-1990s were two-door, two-seat compacts, but newer generations of hybrid sedans have grown in cabin and cargo space. In fact, certain hybrid cars boast even more trunk space than their gas-powered counterparts.
Higher purchase price
A potential downside to purchasing a hybrid is its initial cost. Hybrid vehicles tend to cost anywhere between $2,000 and $10,000 more than their non-hybrid counterparts. The assumption is that fuel savings will offset this cost; however, this takes time. According to Edmunds.com, it can take anywhere from 5 to 25 years to save enough in gas to justify the higher purchase price, depending on the vehicle, gas prices and tax and sales incentives. Additionally, hybrid cars may not always be eligible for insurance savings, either.
Take the time to consider hybrid cars' pros and cons before making a purchase decision. Advantages include better gas mileage and the chance to own cutting-edge technology. But their higher cost and utility may not be a fit for your family. Take your time in weighing the costs and benefits so you can be sure you get the best vehicle for your needs.
No matter what you decide for your next vehicle purchase, be sure to get an online auto insurance quote from a company like Nationwide Insurance. Take steps to protect your family and your new vehicle. Depending on your driving record and the vehicle you purchase, you may also qualify for discount auto insurance.

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