How Cost Effective Will It Be to Buy a Used Hybrid Car?
Even when times are good, there are plenty of people who look to economize, and in buying a car, a cost-cutting double whammy is to buy a used hybrid. After all, as everyone knows, a car loses value from the literal second it is driven off the lot, making a reliable used car a sensible decision. Although hybrids in general are a bit pricier, it’s a fact that they will eventually pay for themselves in a few short years from the money saved at the pump.
USED HYBRID CAR FACTS
The difference in price between most used hybrid cars and used conventional cars is not as wide as it is between new hybrids and their new conventional counterparts. Stepping in to buy a hybrid that is only a few years old is therefore a major bargain, since it was the first owner that paid for the steep initial depreciation.
The sole caveat is the reason why the price difference sorted itself out: the battery. Hybrid batteries are typically warranted for between 8 to 10 years, and are generally expected to last at for a decade or more before their performance starts to drop off. However, eventually those batteries will need to be replaced, and a new hybrid battery will cost several thousand dollars. This is an important consideration for anyone who intends to buy a hybrid, new or used, and drive it into the ground. When the battery runs out and is time for a replacing, it could cost you as much as the actual car itself!
However, a hybrid will save you money in other respects. They can increase overall fuel economy by as much as 50% compared to normal gas-powered cars. For example, The Nissan Altima hybrid gets 35 mpg in the city, while its conventional counterpart gets 23 mpg in the city. This ensures that your hybrid car was a good investment, especially if you are someone that spends a lot of time on the road. Hybrid cars are especially fuel-efficient in the city.
Finally, used hybrid cars are still environmentally friendly. The technology involved obviously burns less gasoline to do the same job, with emissions that regularly meet the requirements for Super Ultra Low Emission Vehicles (SULEVs).
Overall, buying a used hybrid car is a good option for getting around the substantially marked-up sticker price for a new hybrid car. The same low emissions and gas savings rules apply to used hybrids as to new hybrids, so potentially a used hybrid will save a buyer even more money because they haven’t paid the hefty new hybrid mark-up. However, it is a wise policy to either get a used hybrid that is only 2 or 3 years old, to maximize the expected lifetime of the hybrid car battery.
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