Lightning Hybrid Cars

So the long waiting lists and high prices for the Toyota Prius and Honda Civic Hybrids have turned you off a new hybrid? Don’t 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. 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.

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.

About The Author
Danielle Ali Shah is a contributor for Autotropolis, a full-range car buying and research site dedicated to providing car buyers with the information they need to navigate both the new and used car markets.

Visit the author’s web site at:
Autotropolis.com

Hybrid Cars

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