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Can Hybrid Cars Save me Money?

By: Sally Aquire - Updated: 7 Oct 2012 | comments*Discuss
 
Motoring Car Hybrid Cars Save Money

If you are on a motoring budget, you could do worse than switch to one of the many hybrid cars on offer. Many drivers are reluctant to buy a hybrid car as they can cost a few thousand pounds more than the average non-hybrid car model. However, along with the electric car, hybrid cars can actually save money in the long term, as your typical petrol costs are much less than you are probably paying right now. Other motoring advantages include lower road tax (and congestion charges in London), and less tax on the average company car. These factors make hybrid cars a good option if you are on a motoring budget, as you can save money across the board.

Lower Fuel Costs

Owners of hybrid cars often find that their fuel costs are lower, as they are more fuel efficient and don't need filling up as often. Fuel costs can be as much as fifty per cent lower with a hybrid car. Hybrid cars can typically use between 15 and 30 per cent less fuel per mile than regular cars, although this can depend on whether your driving style is conducive to maintaining fuel economy. See our article on 'Driving Tips for Saving Fuel Around Town' for more advice on tailoring your driving style to save as much fuel as possible.

Lower Road Tax

Road tax is much lower on a hybrid car as your fuel emissions are less, as road tax is currently charged in relation to how high your car's fuel emissions are. You are also exempt from the London congestion charges if you drive a hybrid car as they tend to be classed as a Powershift 4 vehicle. To be sure of receiving this exemption, you need to register with Transport for London (and pay the £10 yearly fee). If you are not sure if you qualify for the exemption, the Powershift Register has a list of all exempt vehicles.

Lower Company Car Tax

Company car tax is also dependent on your car's fuel emissions. As these are less with a hybrid car, your company car tax is considerably cheaper. As with road tax, you may find that you can save as much as fifty per cent on your company car tax (provided that the company car in question is a hybrid car).

General Running Costs

General running costs (such as maintenance, repairs, servicing and replacing the battery) for hybrid cars is a bit of an unknown entity due to their fairly recent arrival on the car market. Motoring experts suggest that these costs will work out to be similar to conventional cars, although servicing may need to happen at a centre that specialises in servicing hybrid cars.

To save money on a motoring budget, a hybrid or electric car is one of the best motoring options. Your petrol costs are likely to be a lot lower, as the hybrid and electric types of car are more fuel efficient, so your petrol tends to last much longer. Most people find that the higher buying costs of hybrid cars are cancelled out by the money saved on fuel costs and road tax.

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