If you’re thinking about buying yourself a hybrid car not just for the sake of reducing your carbon emissions and are wondering if you’ll also end up saving yourself some cash in the process, we’ve put together the following article that’ll hopefully clear some things up.
First, let’s get into the different types of hybrid vehicles that are available to buy.
Different types of hybrid engines
When it comes to the engines found in hybrid vehicles, there are now a few different variants in the market for you to choose from.
Uses both an internal combustion engine (ICE) electric motor working in conjunction with one another - it cannot run solely on electric power. More often than not, mild hybrids’ batteries are on the smaller side and this system is used for things to improve the efficiency of the ICE such as accelerating off the line, coasting and braking. Smaller mild hybrids like the Mazda 3 (check out some amazing Mazda offers here) will generally run a petrol ICE while in some of the larger models (e.g. the Range Rover Evoque) you can find a diesel ICE.
Like the mild hybrid, a full hybrid vehicle has both an ICE and electric engine. However, unlike the mild hybrid the full hybrid can run on either of these engines by themselves, or using a combination of both. The full hybrid’s battery is recharged with the ICE. One of the more common vehicles in this category is the Toyota Camry.
As the name suggests, a plug-in hybrid electric vehicle (PHEV) can be plugged into an electrical source in order to recharge the battery. The battery itself is substantial in size, and as such this type of hybrid can be run solely on electric mode and without the ICE in operation. The Mitsubishi Outlander is a great example of a PHEV.
Will they save you money?
We know you’re going to hate this answer, but…
While you’re going to be spending more on the outset to buy a hybrid car, over time the money you save on fuel will chip away at this increased purchase price. This of course means that the longer you have the car, the more of a chance you’ll not just recoup the costs for the higher price tag, but also reach and surpass the ‘break-even point’. That is, the point at which you’ve saved the accumulated amount that you had to spend when you bought it. From that point on, it’s all savings.
On the other hand, it’s important to think about the potential costs involved if and when you need to replace the battery in the hybrid car - this can be quite a costly venture, so do your research and find out an estimated price of doing so.
Then there’s the matter of resale value. If the standard-engine model’s estimated depreciation rate is substantially lower than the hybrid vehicle or vice versa, this will also be a big contributing factor as to whether buying a hybrid is going to save you dollary-doos or not.
The bottom line here: do plenty of research into the type of hybrid car(s) you’re interested in and put an Excel doc together with the numbers to get a much better idea of things.
Hybrid or not, we’re here to help you get into your new car sooner
Whether you end up deciding to go for a hybrid car, a turbo-diesel or something else, we’ll help you find your ideal make and model at a fantastic price. Our simple and straightforward car buying process means you can leave everything to us, from sourcing you the hottest price from our gigantic network of dealers across Australia to arranging for your beautiful new ride to be delivered directly to you wherever you are in the country. Search the new car range today and get the ball rolling.
We’re also happy to assist you in selling your old car, sorting out everything including the inspection and receiving fair market valuations for you to choose between and even picking it up.
And be sure to speak with our industry partners over at Stratton Finance if you’d like to finance a new car; with more than 20 years’ experience helping Aussies secure awesome car finance deals, you can bet they’ll be able to find the perfect solution for you too.