So the long waiting lists and high prices for the Toyota Prius and Honda
Civic Hybrids have turned you off a new hybrid? Don抰 worry because used hybrids
are now starting to hit the market and it may be a great chance to grab a
bargain. There are some very important things to take into consideration before
you jump into a used hybrid however.
Given that hybrids are new to the
used car market, they have been somewhat of an unknown quantity. Figures from
Kelley Blue Book are now showing that the depreciation of hybrids is
significantly more than other used cars, with the Prius holding only 58% of its
value after two years and 41% after five years, and the Civic Hybrid holding 60%
after two years and 43% after five years. This compares to the gas-engined Civic
which maintains 66% of its value after two years and 50% after five years. The
good news is that buying a used hybrid will save even more money over buying a
new model, however the depreciation continues and when you go to sell it, you
will lose more than other vehicles on the road.
So why is the
depreciation on Hybrids so high? There are a few factors at work
here.
Firstly, the cost of replacing hybrid batteries is much more than
other car batteries. The batteries on a hybrid store the energy that has been
produced through regenerative braking, and use it when the car is running on
electric. These need replacing after 8-10 years or 80,000 ?100,000 miles and it
is a big investment, costing between $2000 and $5000. If you buy a hybrid car
that is ready for a battery change, you may be slugged with a replacement cost
that makes the savings of buying a used hybrid redundant.
Another
important consideration is that hybrids are still more expensive to maintain
because there are a lot fewer mechanics that are qualified to repair the
completely different mechanical system Car
Tools store. On the other hand, overall maintenance should be less than a
regular gasoline car due to the reduced stress on the engine and the brakes in a
hybrid autel
maxisys elite.
The computer system of a hybrid is extremely
sophisticated in order to manage the two engine systems and switch between them
at the appropriate times. This relies on a system of sensors throughout the car
and a central computer, and like all computers, things can easily go wrong. If
the used hybrid is outside of its warranty period for computer maintenance, this
could end up being an extremely expensive investment to repair
it.
Finally, the insurance of a hybrid car is higher than other cars due
to the high cost of maintenance.
Given these issues with used hybrids, it
is even more important than with other cars to have the car fully inspected
before you buy it, to understand exactly what you are buying and what kind of
costs you will be up for. Hybrids are still surrounded by a fair degree of hype,
so sellers will often be looking to add a premium just because it is a hybrid.
To avoid this, be sure to research the true value of the car in Kelley Blue Book
and other local selling guides and as with any other used cars, the better your
homework, the more likely you are to get a great deal.
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