For now I will be talking specifically about hybrids, but I will cover EVs in my next post. There are 3 major time and cost-saving advantages when considering a hybrid over a comparably priced conventional vehicle:
1. LESS TIME AND MONEY SPENT AT THE PUMP. You will reduce your gas station visits by 1/2 to 1/3 of the number of times you normally do in your current vehicle. You will also spend fewer minutes pumping each time you’re there since the fuel tank is smaller. Getting better fuel efficiency (40-50 MPG) out of each tank means fewer trips to fill up, and extra savings each month in your budget.
2. LESS TIME GETTING OIL CHANGES. Oil changes are needed far less often than the standard 3,000 miles. For example, the Toyota Prius manual states that they should be done every 5,000 miles, but if you choose a synthetic oil, changes are only needed every 10,000 miles. The cost of an oil change is around $100, so it may save you not only time, but a small amount of money in the long run in this area as well if you are used to paying $40-$50 per oil change on a standard fuel-injected vehicle every 3,000 miles.
3. LESS TIME AND LESS MONEY SPENT ON MAJOR VEHICLE MAINTENANCE. Hybrids come with the standard new car warranties you would expect on all new vehicles, but Toyota also boasts an an aggressive 8-year/100,000 mile hybrid component warranty on the Prius as well. This includes battery replacement if needed, although batteries are expected to last up to 180,000 miles. Battery and other car part exchanges (there are fewer parts on a Prius) will be needed far less often than a conventional vehicle, saving you time and the inconvenience of being without your vehicle for hours as it is being serviced. Cost savings on the potential parts and labor definitely sweeten the deal.
Have high gas and maintenance costs made you consider switching to a hybrid vehicle for your next purchase? Does the payoff to switch still seem insignificant? Share your thoughts below!