internal combustion engine

There are many reasons why we should drive as little as possible. One of the most compelling for most drivers is that it is getting increasingly expensive. Gas prices have been fluctuating severely in recent years, but on the whole they have experienced an upward trend. This is one of the many reasons that hybrid vehicles have been receiving so much press.

Hybrids are designed to be much easier on gas than regular vehicles. This is accomplished by pairing an internal combustion engine with a rechargeable battery. The result is fuel efficiency that is currently, on average, in excess of 40 miles per gallon.

But this added fuel efficiency comes at a price. Hybrid vehicle prices run a few thousand dollars higher than their internal combustion-only counterparts. The Energy Policy Act of 2005 provided for tax credits to offset a portion of the added expense, but they have been largely phased out.

But there are certain other savings that you can realize by owning a hybrid. These include the following:

The need for less gas translates into saved money. The amount saved depends on the price of gas at any given point in time. But with hybrids getting an average of 50% more mileage out of the same amount of gas in a regular vehicle, it adds up to much more than pocket change.

In some states, you can get a state income tax credit for hybrids. This won’t be as much as the federal credit, but it’s certainly worth checking into. You can get more information from your state’s Department of Revenue.

Some states offer other incentives for those who buy hybrids. Some charge sales tax at a lower rate on hybrids, which can save you a significant amount of money up front. Some also offer lower registration fees.

Some cities, hotels and schools provide free or discounted parking for hybrids. Depending on the location, this could save you a great deal of money each month.

Even employers are jumping on the hybrid incentive bandwagon. Some, including Google and Bank of America, have offered cash back to employees who purchase a hybrid vehicle.

In some areas, hybrid owners are allowed to drive in the carpool lane even if there is only one person in the vehicle. Not only is this a nice added convenience, it can also save even more gas.

If you’re relying on increased gas mileage alone to offset the cost of your hybrid, you could possibly be disappointed. But with the other savings you might qualify for, owning a hybrid could be very cost-effective. And remember, cost isn’t the only factor when buying a hybrid. The lower impact you’ll have on the environment and its natural resources are priceless.