Hybrids are Fuel-Efficient, But are They Worth the Extra Cash?
Hybrids are fuel-efficient, but are they worth the extra cash?
Hybrid vehicles have risen in popularity over the last decade. Popular brands such as Toyota, Mercedes Benz and Mitsubishi all offer hybrid cars in Australia, and many people see them as the future of driving.
Known for their fuel efficiency, hybrid cars also have a reputation for being more expensive than regular vehicles. So the question is, are they worth it?
If you've considered buying a hybrid car, talk to the team at Positive Lending Solutions. We can find the right loan for your vehicle, your budget and your financial situation.
Understanding hybrid cars
With a hybrid vehicle, more than one method of propulsion is used. This means that a standard combustion engine is combined with an electric motor - a hybrid between the two methods of driving.
By definition, all hybrid cars will have:
- A conventional petrol or diesel engine
- An electric motor
- A battery to power this motor
As people become more concerned with fuel efficiency and environmental impact, hybrid cars have begun to rise in popularity. Because hybrids consume less fuel than conventional vehicles, they are often much cheaper to run.
The benefits of hybrid cars
If you've driven an automatic car, you will be familiar with how a hybrid car performs on the road. There are many benefits to owning a hybrid car over a conventional vehicle.
- You can expect better fuel efficiency from your vehicle.
- Carbon dioxide (CO2) emissions are substantially reduced.
- Because hybrids are able to charge their own batteries, you won't need to find a charging point.
- A range of power modes allows buyers to achieve maximum efficiency depending on driving conditions.
- You may pay lower road tax and avoid certain road charges compared to non-hybrid vehicles.
The limitations of hybrid cars
With all growing technological trends, there are drawbacks that must be considered. The limitations around hybrid cars largely revolve around how much they cost at the outset.
- Due to the technology involved in their design, hybrid cars are often much more expensive than conventional vehicles.
- It can take a long time to recoup this initial cost in fuel savings.
- The total amount saved is dependent on fuel costs, which vary from month to month.
- Hybrid cars may be eclipsed by electric cars as the most environmentally friendly option available.
- Hybrid cars may have difficultly towing or hauling.
Figuring out if a hybrid car is right for you
If you’re deciding whether a hybrid car is right for you or not, you’ll want to consider your personal circumstances and the way in which you plan to use your car. Ask yourself the following questions
- How regularly will I be using the car?
- How much do I want to spend on a hybrid?
- How long do I expect to have the car for?
- What kind of journeys will I be taking in the vehicle?
Contact Positive Lending Solutions
If your heart is set on a hybrid, speak to Positive Lending Solutions about the best car finance options for you. With decades of experience and access to a wide range of trusted lenders, our team can help you find the right loan for the car you want.