Cost and Benefits of Hybrid Cars
The Cost and Benefits of Hybrid Cars Have you pulled your car up to the gas pump lately and been shocked by the high prices of gasoline? The Auto industry has the technology necessary to address this concern. . It’s the hybrid car. Today, there are many different models out there in the market and most major manufacturers are involved in developing them. Hybrid cars will save the drivers a lot of money. The purpose of this paper is to identify the costs and show the benefits of this awesome vehicle.
Identifying Costs This section is designed to compare and contrast all the costs that we will see in the decision of purchasing a new hybrid car. It’ll include all monetary costs and all non-monetary costs. I will be comparing the costs of buying a new hybrid to other regular non-hybrid vehicles in order to better see the differences.
A. Gasoline & Car Loan People are obsessed with spending less money on gas. Websites have even been created to help the penny-pinching consumer find the cheapest option close to home. Hybrid cars get really good MPG (miles per gallon). In my opinion, the best way to find out if switching over to a new hybrid car is a good idea is to compare the prices and costs. I’ll use my own car as an example, if I were to replace my paid-off 1999 Honda Accord, which only gets 25 mpg, with something more economical; I would consider a Toyota Prius or a Corolla. The following chart shows how much money I would save if I made the change.
|2012 Auto |Miles per Gallon (MPG)|Monthly Gas |Sticker Price |Monthly Payment |Net Monthly |
| | |Savings | | |Savings |
|Toyota Prius |55 |$ 70.71 |$21,275.00 |$386.56 |$(315.85) |
|Toyota Corolla |36 |$ 34.72 |$14,005.00 |$227.83 |$(193.10) |
The table above, shows us how much more it
Identifying Costs This section is designed to compare and contrast all the costs that we will see in the decision of purchasing a new hybrid car. It’ll include all monetary costs and all non-monetary costs. I will be comparing the costs of buying a new hybrid to other regular non-hybrid vehicles in order to better see the differences.
A. Gasoline & Car Loan People are obsessed with spending less money on gas. Websites have even been created to help the penny-pinching consumer find the cheapest option close to home. Hybrid cars get really good MPG (miles per gallon). In my opinion, the best way to find out if switching over to a new hybrid car is a good idea is to compare the prices and costs. I’ll use my own car as an example, if I were to replace my paid-off 1999 Honda Accord, which only gets 25 mpg, with something more economical; I would consider a Toyota Prius or a Corolla. The following chart shows how much money I would save if I made the change.
|2012 Auto |Miles per Gallon (MPG)|Monthly Gas |Sticker Price |Monthly Payment |Net Monthly |
| | |Savings | | |Savings |
|Toyota Prius |55 |$ 70.71 |$21,275.00 |$386.56 |$(315.85) |
|Toyota Corolla |36 |$ 34.72 |$14,005.00 |$227.83 |$(193.10) |
The table above, shows us how much more it
References: Fuel Economy.gov. (n.d.). Retrieved from http://www.fueleconomy.gov/feg/hybrid_sbs_cars.shtml Hensley, R., Knupfer, S. M., & Krieger, A. (2011). The fast lane to the adoption of electric cars. Mckinsey Quarterly, (1), 10-14. Nice, Karim, and Julia Layton. "How Hybrid Cars Work" 20 July 2000. HowStuffWorks.com. 04 April 2012.