Should I buy a hybrid car?

On the way to work this morning, I happened to see two hybrid cars rolling next to each other on the highway. Obviously, one was a Toyota Prius and the other a Honda Civic Hybrid. It occurred to me that hybrid cars are becoming more mainstream ‘cuz, like on the HOV lane , one in every 5 car is a Toyota Prius. It’s only going to go up with the gas price (although it’s being cheaper right now but $3.00 a gallon is going to be a fixture in the near future) and urban houses being ridiculously expensive, people are going to have a long commute to work. Anyway, while I was able to look at two hybrid cars at the same time, the new 2006 Honda Civic Hybrid is much better-looking than the Prius. Aside from being a Honda loyal owner, I really like the new look of the Civic and if you are going to get the car, you better be able to afford it (duh). So I was already thinking how can I get my hands on the new Civic. So, look at what I have here:

1. 2006 Honda Civic Hybrid MSRP: $21,850. I’ll negotiate for 20k, although that probably will be very hard due to high demand and stupid dealership markups.

2. Google’s Fuel-Efficient Vehicle Incentive Program: $5,000 cash.

3. Federal Tax Credit – $2,100 (that’s a CREDIT to you, not a mere deduction. )

4. Washington DC sales tax waiver and discounted vehicle registration – abt $1,000.

So, Estimated Final Price = $11,900. Plus if i sold my car for $13,000. Well, I’ll be damned, Who thought I’d actually get some money for getting a hybrid car? And not to mention, years of saving money on gas, which comes in thousands, not just hundreds.

mm-hmm….

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5 Comments, Comment or Ping

  1. GO FOR IT !!!

    2. Google’s Fuel-Efficient Vehicle Incentive Program: $5,000 cash. – That’s for Google’s employee only right ? It has to be HYBRID or specific cars or cars that have more then 35 mpg?

  2. natech

    Yeah, for employees that are full-time. Well, any car that is 45 mpg or better but only two cars qualify: Toyota Prius and Honda Civic Hybrid. I’m looking up for reviews on HCH and its handling. Too bad it doesn’t come with a manual. Hmm..

  3. Also, do not forget you maybe eligible for more tax benefits, I read some where that you may qualify for between 600 to 2,000 dollars back in taxes if you purchase a hybird car between 2005 – 2007.

    I’ll have to look for that information again and get it up here.

    oneninefive

  4. natech

    Yup, that’s $2,100 tax credit from the feds. But $3,100 for Toyota Prius due to higher mpg. But I heard it’s only for the first 60,000 hybrid cars sold. Not sure if we have reached that number or not. Otherwise, the credit will be no good.

  5. Ken

    Go ahead and jump in dude. I plan to purchase the Prius very soon primarily for the thousands in gas I will save alone. According to the proverbial “gas calculator” I currently spend an annual average of just over 6k @ 3.50/g. The Prius is estimated to save me 4k/year @ just over 2k spent on gas annually. A very reliable source in the oil industry just eluded that we could very well see 4.10/g by July 4th in Kansas. I may be buying the Prius sooner than expected. By the way…I drive a 2006 Dodge charger daytona that I will trade in. Good luck!

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