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Breaking Down the Real Costs of Owning a Hybrid Car



Depending on the type and the cost of petrol in your area, buying a hybrid vehicle in Canada may or may not be worth it. The price of most hybrid automobiles is greater than that of their gasoline-powered equivalents. Even if the initial cost of a hybrid vehicle is more than that of an ordinary car, you may make up for it within a few years of owning it if petrol costs are increasing.


According to 2013 statistics from the Canadian Automobile Association, the average cost of operating a car in Canada is $10,456 per year. Fuel, depreciation, insurance, and maintenance and repair are all included in this total. Fuel savings, lower service costs, and higher lifetime are touted by hybrid and electric cars, which are also more environmentally friendly. In the end, how much does owning a hybrid vehicle cost?


What are Hybrid Cars?

Hybrid cars combine the power of an internal combustion engine (ICE) with that of an electric vehicle (electric battery). It is possible to operate hybrid automobiles on either gasoline or a combination. Your car is more ecologically friendly since it doesn't emit any greenhouse gases because of the electricity it uses to run it.


The price of a hybrid vehicle in Canada

When acquiring a hybrid car, there are a variety of financial considerations to keep in mind. It all boils down to personal choice and driving habits at the end of the day. Consider the primary expenses of owning a hybrid vehicle.


Gas

It's enticing to think of cutting down on the number of visits to the gas station and the amount of money spent on fuel each month. It's even better to purchase a hybrid in areas like Vancouver, where fuel is often more costly than in the rest of the nation. As time passes, the globe is becoming less reliant on fossil fuels.


Cost of the car

When comparing the cost of a hybrid vehicle to a conventional car, the initial investment is often more significant. In some instances, the cost difference might be $10,000 or more. Before making the investment in a hybrid car, make sure you do your homework.


Insurance

In Canada, the difference in insurance rates between hybrid and non-hybrid vehicles is insignificant. No need to base your decision on insurance prices when considering whether or not hybrid vehicles are worthwhile investments. According to a few studies, hybrid automobiles are more affordable to insure.


Rebates and Incentives

You may also take advantage of rebates and incentives to reduce the upfront cost of hybrid vehicles. Many Canadian regions, businesses, and automobile dealerships attempt to encourage their customers to become greener in their transportation choices.


Maintenance

Changing the hybrid battery pack every 100,000 miles is advised with a hybrid vehicle. Hybrid and conventionally powered vehicles have comparable lifecycle costs. Extended warranties are more common on hybrid vehicles than on non-hybrid models.


What is their actual cost?

Consumers need to do the numbers to see whether a hybrid makes financial sense. Between $1,200 to $15,000, hybrid cars with both an electric motor and a gasoline engine are more expensive than their conventional counterparts. Purchasing a 2019 Toyota RAV4 hybrid over a traditional model costs an additional $1,400. Mitsubishi Outlander PHEV begins at $44,000, while gas-powered Outlander starts at $30,000.


Several factors come into play in determining whether or not a hybrid vehicle is cost-effective in Canada. In the long run, buying a car that costs about the same as a combustion engine automobile will save much money on petrol. Why not also reduce your environmental impact by reducing the number of petrol station journeys you make?

 


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