4 Signs These Are the Right Hybrid Vehicles for You

While we wait for the flying vehicles that some of the 1970s cartoons promised would be here by now, there are several options if you’re looking to trade in your gas car. 

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After all, hybrid vehicles have been around now for more than two decades. “They are the go-to vehicle for car shoppers wanting to reduce their fuel consumption and their vehicle’s emissions,” according to Edmunds.

In addition to hybrid vehicles, there are now plug-in hybrid and electric options. So which one is the right fit for you? Here are some things to consider when choosing.

1. Cost

First, probably on the top of nearly every buyer’s mind, is the cost. According to Consumer Reports, a hybrid will generally cost you anywhere from the same to $3,000 more than an equivalent gas-only option. For a plug-in hybrid, that cost jumps to $1,300 to $14,000 more than the gas-only options. As for an electric vehicle, that’ll set you back about $5,000 to $15,000 more than a gas or hybrid vehicle.

2. Fuel Savings

Second, keep in mind there are annual fuel cost savings. It’s about $300 to $800 with a hybrid compared to a gas car. For a plug-in hybrid, it really depends on how often you actually plug it in. Your annual energy cost with an electric vehicle is about $1,300 less than a gas car.

3. Tax Incentives

Speaking of savings, there are sometimes tax incentives that impact which kind of vehicles buyers want to own. In general, hybrids aren’t eligible for any tax incentives. On the other hand, plug-in hybrids and electric vehicles may be eligible for tax credits. 

4. Convenience

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Finally, and what may be most important to many drivers, is the convenience factor. With hybrids, you’ll find good gas mileage and lower emissions. For plug-in hybrids, one convenience factor is that there’s no need to use chargers when away from home, whereas electric vehicles can require long charging stops on a trip. But electric vehicles offer instant and silent acceleration, along with little maintenance.

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This article originally appeared on GOBankingRates.com: 4 Signs These Are the Right Hybrid Vehicles for You

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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