If you are looking for a new car, you should consider buying a hybrid. You can look at this two ways, economically and environmentally. To some people, just making a little less impact on the environment is enough while driving their daily commute. Hybrid cars use less fuel than regular cars which cuts the carbon emission that goes into the ozone. Then there are other people who want to be more fuel-efficient and save money on gas if they have long daily commutes. Who doesn’t want to save money? Now let’s see how much exactly you could be saving if you do purchase a new hybrid. In this blog, we will be discussing whether or not they are worth it and how you can calculate it (This what matters to you).
No Longer New Tech
Every year hybrids are becoming more developed and more affordable. On average a hybrid car emits 46% fewer greenhouse gases than cars that run by only gas. Just like solar panels, they are expensive but they get cheaper every year and the savings on money don’t start right away. What keeps people choosing to spend that money on more environmental options is because they know that they are lessening the impact they have on the environment.
How to Calculate
To calculate the difference between a hybrid and nonhybrid car, you must first figure out the cost of the same version of the car. Here are the steps:
-
Compare the purchase price of the same version of the car
-
Calculate the difference in price
-
Find the annual fuel cost of each car
-
Calculate the number of gallons each car will use per year
-
Multiply the price of gas to the number of gallons used each year
-
Calculate how many years it will take to finally benefit from having a hybrid
Let’s use the Toyota RAV4 as an example. The 2020 LE AWD starts at around $26,000 while the exact same version as a hybrid is around $28,400. That’s a $2,400 difference, and now we have to calculate how long it will take to save that amount on gasoline. In order to calculate this, you must find out the annual fuel cost for each car. The regular RAV4 has 30 mpg while the RAV4 Hybrid has 40 mpg. Now let’s assume you drive 30,000 miles a year and we use that to calculate how many gallons each takes. The regular car would take 1,000 gallons while the hybrid would only take 750 gallons a year. The next step is to take the gallons used a year and multiply it by the price of gas per gallon. Let’s assume the price of gas is $3 a gallon- so the RAV4 would spend $3,000 a year and the hybrid would spend $2,250 on gasoline. In the end, you will find that it would take 3 years before you start saving on gas from switching to a hybrid.
The Long Run
You would get the most out of your hybrid if you plan on keeping the car for a while not just for a couple of years. If you keep the hybrid from 6-10 years you will see how much money you will be saving on gasoline. You will also be spending less money on car parts because hybrid cars use alternative parts as well. Hybrids use regenerative braking which means you’ll spend less on replacing brake pads and rotors. You will also spend less on maintaining the gasoline engine like changing the oils, fluids, belts, and filters. It all adds up in the end and should encourage one to buy a hybrid.
Conclusion
We hope this blog made it more clear how and why having a hybrid instead of a regular car can be worth it. Next time you are looking for a new car, you can compare the two different cars for yourself. Then you can decide if it is worth it to get a hybrid or not. If you want to start on your research and calculations, you can use our Inventory tab and look into our cars and hybrids.