Only 1 in 3 Hybrid Owners Buy Another One
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.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- 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