Hybrid Cars - Are They Worth It?

Gas prices are skyrocketing every summer, leading people to search for more affordable and environmentally friendly means. Hybrid Car manufacturers advertise their new vehicles as money-saving machines, but how much are consumers really saving?

Hybrid vehicles generally cost anywhere from 25%-30% more at the dealership than full gasoline engine vehicles. It's important to know if this investment will pay off in the long run. Most hybrids do pay for that extra dealership cost over time by saving money at the pump, but it's important to choose a vehicle that offers both efficient performance as well as a reasonable purchase price.

Not all Hybrids are created equal

The more luxury SUVs by manufacturers such as BMW, Lexus, and Mercedes use a surprisingly high volume of gasoline, resulting in mileage that is no better than their full-bred gasoline-chugging counterparts, running as low as 15 miles-per-gallon

Still, some Hybrid vehicles are a head above the rest in terms of performance. The 2011 Toyota Prius consumes an astonishingly small 51 miles-per-gallon from urban driving. This cuts down on annual fuel costs drastically, but also proves that the technology behind Hybrid vehicles will only improve in the coming years.

Tax Incentives

The money saved doesn't end at long term usage. Some Hybrid Vehicles qualify with the IRS for a tax credit amount. 2011 vehicles can save buyers anywhere from 900 to 2350 dollars. The tax credits aren't as high as they once were due to hybrid cars growing in popularity, but it's still a little bit of money shaved off the bill. Not all hybrid vehicles qualify, make sure to double check before purchase.

Better Safe than Sorry

Earlier hybrid models were a concern for safety when the high voltage cables that ran through the vehicle posed a risk in the case of car accidents. Today, modern hybrid machines are safe as conventional cars. Not only is the technology safer, emergency crews are also trained in proper safety measures to understand how the machines are built and how they can be dismantled safely.

The Verdict: Hybrid Cars are efficient vehicles for hopping around the city and can save consumers money if owned for a long period of time. However, the technology behind hybrid vehicles is advancing quickly and may be worth investing at a later time. The higher entry price may cause buyers to think twice making the green-friendly investment.

IRS, "2011 Model Year Hybrid Vehicles", IRS.gov
Jil Mcintosh, "Safety rules the road in hybrid design", Metro News
US Department of Energy, "2011 Hybrid Vehicles", fueleconomy.gov