Increasingly hybrid cars like Toyota’s popular Prius are being touted as the best new cars around, and have become quite the fad amongst city drivers looking for fun to drive cars that are also reliable and can save money. But, are hybrid cars – especially the ones on the market today – really worth the money? What are the pros and cons of hybrids, and what makes them so special? Before you buy a hybrid, make sure you examine both the good and bad about being the owner of these new, non-traditional cars.
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You probably already know the pros of having a hybrid car. They are the reasons people buy them in the first place, and the most frequent topics of conversation when talking about a Prius or similar model. The major attraction is that hybrids use significantly less fuel than traditional cars, since the engine relies both on gas and on a battery. Current popular hybrid models only use gas to power their engines above about 40mph, making them highly efficient and popular for city driving. And less fuel obviously leads to significantly lower gas bills. With gas prices rising dramatically over the past few years, many city drivers –especially those that commute– have turned to the Prius as an investment.
The other major attraction for hybrid owners is the environmental impact on the car. In big cities with lower air quality, hybrid cars allow drivers to cut back on their carbon footprint without giving up the convenience of owning an automobile.
However, hybrid cars are far from perfect. For many consumers a major downfall is the price. Some rough math by Consumer Reports shows that it would take you over 21 years in gas savings to “break even” on a hybrid, if you bought a Prius or similar model over another compact sedan. Similarly, hybrids may have a lower resale value later on. With the market increasingly looking for new and improved car models, hybrid technology can become outdated a few years after a car is purchased. As hybrids improve, the one sitting in your garage may be worth less and less. Further, repairs are often costly, so you may find your overall expenses make hybrids cost-prohibitive.
Luckily, even as hybrids improve, so do “traditional” cars. Many small cars with efficient engines and manual transmissions are now getting up to 38 miles per gallon, which challenges the Hybrid for efficiency. So, if you are reluctant to shell out the money for a hybrid but want the luxury of lower gas prices, do your homework and look at other cars on the market.