Should You Invest in an Alternative Fueled Vehicle?

 
When purchasing a new vehicle, the number one thing that customers care about is the price. However, paying more for an alternative fueled vehicle like a hybrid vehicle now could actually be cheaper over five years because of the potentially higher trade-in value and the money you will save on fuel.
 
To figure how much you will save on gas, let’s take the 2012 Kia Optima and compare it to the 2012 Kia Optima Hybrid. The Optima has an average fuel efficiency of 7.15L/100km between city and highway while the Hybrid’s average fuel efficiency is 5.25L/100km, for a difference of 1.9L/100km.
 
If the average person drives about 25,000km a year, then they would be saving 475L of gas every year. In 2011, the average gas price in Ontario was $1.24 a litre, meaning you would save $589 annually by buying a hybrid. Over five years you would be saving $2945 on gas.
 
The more gas prices rise, the higher-trade in value alternative fuel vehicles have. As long as you trade in at the right time, your resale value should be significantly better than the non-hybrid version.
 
Therefore, a hybrid vehicle not only helps the environment, but it can also be just as good financially over the long-run. If you drive a lot and are always looking for ways to save on gas, you should strongly consider switching over.
 
Patrick Britton – Guest Blogger