Only 1 in 3 Hybrid Owners Buy Another One
According to a new study by Polk, 65% of hybrid owners switch back to a regular gas-model when it comes time to purchase a new car.
If you don't include the Toyota Prius, then a whopping 78% of hybrid owners switch back.
The main reason is due to the price premium of hybrids, which can take a decade or more to recoup through lower fuel costs. Other than the Prius and Lincoln MKZ, most other hybrids are just not cost-effective.
Many consumers end up buying a hybrid for emotional reasons - they want to help the environment and feel good about it, but if that's the case, then it makes more sense to buy a fuel-efficent used vehicle. The production process to create a new hybrid vehicle ends up hurting the environment way more than driving a higher-mpg used vehicle.
As an alternative to hybrids, you may want to consider buying a vehicle with a diesel engine or opting for one of the "super" fuel-efficient eco models that are hitting showrooms.
My Recommendation for Car ShoppersTrueCar and Edmunds are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About: Gregg Fidan
Gregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
Latest Weekly Car Buying Tips RSS Feed