With a host of incentives from the federal to the state and local government, hybrid cars are surprisingly affordable. Hybrid vehicles attract perks from employers not to mention the loan discounts. With the world going Green and the ever-fluctuating gas prices in the United Kindom, below is a lowdown of the saving perks of a hybrid car, giving you more reasons to own one.
Federal Incentives for Hybrids
A new hybrid car may attract a federal tax credit ranging from anywhere between $250 and $3,400. The amount of tax credit may vary depending on factors such as fuel consumption and the popularity of the car in question. Some models may have surpassed their share and may not qualify for tax credit. Thus, you need to consult the Internal Revenue Service to know how the amount of tax credit a particular car may attract.
State Incentives for Hybrid Cars
A good number of cities and states have formulated incentives for hybrid car owners including tax credit and the privilege to drive alone on secluded HOV lanes. Other perks include free or affordable parking. You may visit HybridCenter.org to find out what incentives your city offers for hybrid vehicles. Get in touch with your city’s clerk office you to see if your hybrid car qualifies for parking perks when driving in your area.
Employer Incentives for Hybrids
Most employers are now encouraging their employees to use hybrid cars to and from work. Some companies such as My Organic Market and Clif Bar as well as Green Business Network give their employees up to five thousand dollars to buy or lease a hybrid car.
Some educational institutes offer exclusive parking rates for lectures and students who drive hybrid cars. Also, some hotels allow their customers to park for free if they are driving a hybrid vehicle. You can inquire with your institute, college or any other organization you interact with on a daily basis if they have special perks for hybrid vehicles.
Loan Discounts for Hybrid Cars
Getting finance for a hybrid car can be relatively easier in comparison to a standard automobile. Most banks, particularly credit unions, have preferential rates for hybrid vehicles.
Insurance Discounts for Hybrids
Insurance providers such the Farmers Insurance Group, Travelers and Geico have lower premium rates for hybrid cars in selected states. You may consider asking your insurer if they have exclusive charges for hybrid cars.
Gas Savings with Hybrid Cars
Gas prices will keep fluctuating; even if they fell today, you can almost certainly expect that they will rise again in the future. Thus, the dollar value of a hybrid car offers better mileage, fluctuation of the gas prices notwithstanding.
Maintain Your Hybrid Car
Sure, a hybrid auto will help you save fuel. However, you need to take your vehicle for regular maintenance. See, the one thing people will not tell you is that the gasoline engine on a hybrid car requires the same treatment as any other vehicle. Indeed, the routine costs are relatively lower than a standard car.
Even then, you have to ensure that you take your hybrid car for checkups at a facility that knows what it is doing. See, hybrid vehicles are a relatively new phenomenon and not every mechanic has the expertise required to inspect your vehicle. On that note, visit Rowley Auto Ltd, an experienced car repair facility operating in Kenilworth and the surrounding areas. Remember, the quest to keeping your hybrid car up and running starts by giving it the maintenance it needs to remain functional for years upon years.
The Bottom Line
Many motorists are starting to embrace the idea of driving hybrid cars. Apart from the benefits mentioned above, these vehicles have a higher resale value. They’re lighter and use a regenerative braking system. In other words, you will never have to worry about a low battery with hybrid vehicles.
However, it is worth mentioning that you must have the cash to splurge to own a hybrid car. In fact, this is the primary reason most drivers don’t own these vehicles. More specifically, you may have to part with anywhere between 5,000 to 10,000 dollars more if you decide to go for a hybrid vehicle.