With the prices of gasoline continuing to rise, you may be asking yourself if you should trade in your gas-guzzler for a more fuel-efficient ride. Does it make good financial sense for you to make the change? Before you count dollars and cents, you need to see if the price of the new automobile and the number of miles you drive justifies the purchase.
If you only drive to the doctor and grocery store, then paying for a hybrid probably isn’t going to make sound financial sense. However, if you drive 200 plus miles per week, then you could be saving a ton of money by switching. If you’re still on the fence about making the switch, then here are five benefits of owning a fuel-efficient car.
1. The Fuel Costs Are Amazingly Low
One of the biggest reasons to buy a fuel-efficient automobile is that it will save you tons of money on gas. Every time you go to the gas station, you will realize the impact that it has on your wallet. Forget paying $50 to $60 for a fill-up, as most of these vehicles have smaller tanks because they don’t use nearly as much. It’s best to go to an online calculator to figure the car you are looking at versus what you have now. One good site to use is www.fueleconomy.gov.
Statistics show that you can save more than $10,000 in fuel costs alone during the ownership of a hybrid. Before you make a purchase, you should always check the fuel economy first. The gas prices tend to be a bit erratic, but this should be your top priority. Let’s assume that you buy a vehicle that gets around 30 mpg. If your current car gets approximately 20 mpg, then it can save you about $610 a year if you drive the average of 15,000.
Now, over the course of a five-year period, the savings would be more than $3,000. Since the average loan on a car is around seven years, the total savings if you keep it till it’s paid off would be $4,270. That’s a significant amount of money. Stop emptying your wallet each time you go to the pump. You need a gas sipper instead of a guzzler.
2. Inexpensive Insurance
While the gas prices may fluctuate, the insurance premiums seem to be through the roof. However, another advantage of having a fuel-efficient car is that it can lower your insurance premiums. Some insurance companies give a significant discount for those customers that go “green,” but it has everything to do with the maintenance costs being more inexpensive.
High-powered vehicles don’t get nearly the gas mileage of a fuel-efficient one. Part of the reason is that it’s not as easy to accelerate or speed in these types of autos. From the insurance company’s point of view, it’s a win-win. It lowers the potential risk of an accident when a driver is going the speed limit and isn’t putting the “pedal to the metal.”
Additionally, when a thief is going to steal a car, they don’t go out looking for a hybrid. Instead, they want something flashy that will bring them money on the black market. So having less risk of theft is another reason why the premiums are lower. When you figure in the lower insurance premiums along with cheaper fuel costs, you can see how much better off you will be financial.
3. Maintenance Costs Are Less
Most of the fuel-efficient cars on the market also come with lower maintenance and upkeep costs. Now, the battery-powered vehicles can be quite expensive should they need their pack replaced. However, reading a Honda Accord review shows that you don’t need to be classified as a hybrid or electric car to save on gas and maintenance. Vehicles that are not as complicated and have readily available parts are often cheaper to work on. When the maintenance is cheap and easy, then it’s another perk to ownership.
4. Lower Taxes and Fees
Many states are giving incentives for those who buy fuel-efficient automobiles in the way of taxes and fees. You may save on registration fees or they may allow you lenience when it comes to the dues on your vehicle. Check your state regulations before making a purchase, and most car lots can give you any information on this matter you need.
5. Your Helping to Protect the Environment
Preserving the planet and making life better for those who live here should be the goal of every person in this country. A fuel-efficient vehicle helps to keep the air cleaner. This is especially helpful in larger cities where the traffic is often bumper to bumper. Think of the difference it can make in Los Angeles, New York, or Chicago alone?
Reducing greenhouse gas emissions is imperative to our planet. You may be shocked to learn that even these “clean” running vehicles do produce some emissions, but it’s estimated to be about half of the pollutants than that of the traditional cars. Since they take less fuel to operate, that means less drilling for gas and noise pollution too. Though this perk doesn’t put money in your pocket, it can affect your quality of life.
Are You Ready to Make the Change?
Fuel-efficient automobiles were once small cars that would barely accommodate a small family let alone keep up with the demands of today’s larger broods. However, now there are many options when it comes to purchasing a family vehicle that is still going to offer incredible savings. Many people suffer from sticker shock when they first start doing some research for a more efficient automobile, but the savings far exceed the upfront cost. The five benefits listed more than prove that it’s a good move for most families to purchase a more efficient car that will last for years to come.