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Hybrid Car Costs
Often the available hybrid cars cost typically (as of 2008) some $2,500 to $3,000 more than comparably equipped gasoline cars. However, some of the cars are eligible for a federal tax credit, part of the Energy Policy Act of 2005, which can lower the purchase price considerably. There is a cap in sales numbers for all of the car manufacturers, and some manufacturers have already reached that cap, and their models are no longer eligible under the tax credit system. You can read the current situation for each of the available hybrid cars at www.fueleconomy.gov/feg/tax_hybrid.shtml There is also the case for lower insurance premiums for hybrid vehicles. Preliminary research done by insurance companies has indicated that drivers of hybrid vehicles may have a lower risk of being involved in an accident. This has led some, such as Travelers Insurance and Farmers Insurance, to offer a discount to hybrid vehicle owners depending on their state. Some of the worries for hybrid cars are for the possibility of replacements and repairs. However, as of July 2008, all the hybrid-specific components in every hybrid vehicle on the market were covered under warranty for eight years/100,000 miles or 10 years/150,000 miles, depending on the state. Most hybrid cars do not require any additional regular maintenance on the hybrid-specific components over the regular check ups that are done for traditional gas cars. An exception to this rule are at least the air filters on the battery systems on Ford Escape Hybrids, which need replacing every 40,000 miles. Also, traditional cars' brake pads need to be changed regularly, but hybrids' regenerative braking systems and the reduced heat from the systems translate into the brake pads typically lasting much longer, leading to savings. The obvious advantage for hybrids over traditional gas cars is on fuel economy. To see the fuel economy numbers as per EPA testing, see www.fueleconomy.gov/feg/hybrid_sbs.shtml The more you drive during the usage years, the more advantageous the hybrid cars are to own than their traditional gasoline using counterparts.
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