Sign in to comment!

Menu
Home

Personal Finance

Is a Hybrid Car Worth the Added Cost?

Hybrid-Car

Dear Driving for Dollars,

I have a long commute and am considering buying a hybrid car. Will a hybrid car last as long as a gasoline or diesel car? Will I spend more money on the hybrid in the long run due to repair costs?

-- Mary

Dear Mary,

Because you have a long commute, a hybrid car is likely to be a good financial choice for you because your high mileage will compensate for the price premium you will pay for a hybrid versus a traditional gasoline car. Hybrid cars are designed to last just as long as gasoline and diesel cars.

Automakers that sell hybrid cars have put them through the same rigorous testing as they do with all their cars. They're confident the cars will stand the test of time. The hybrid systems in all hybrids are under warranty by the manufacturer for at least 100,000 miles, sometimes more, depending on the automaker. So rest assured, if you do have a problem, it will most likely be covered under warranty and won't cost you a dime.

Bankrate's content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this website is governed by Bankrate's Terms of Use.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.83% dw 3.86%  
15 Y Fixed Graph 2.95% up 2.94%  
30 Y Fixed Jumbo Graph 4.27% up 4.24%  
5/1 ARM Graph 3.13% up 3.05%  
5/1 Jumbo ARM Graph 3.77% up 3.70%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.40% up 4.38%  
$50K HELOC Graph 4.07% up 4.06%  
$30K Loan Graph 4.54% dw 4.56%  
$50K Loan Graph 4.20% -- 4.20%  
$75K Loan Graph 4.20% -- 4.20%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.07% dw 3.08%  
36 M Used Graph 3.29% dw 3.30%  
48 M New Graph 3.05% dw 3.06%  
48 M Used Graph 2.96% up 2.87%  
60 M New Graph 3.13% dw 3.14%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.37% up 0.36%  
1 yr Graph 0.61% -- 0.61%  
5 yr Graph 1.44% dw 1.48%