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BUYING A HYBRID USING THE CASH FOR CLUNKERS PROGRAM

The Cash for Clunker program is going to be huge!  The government is giving us the opportunity to get ride of just about any vehicles for $3,500 to $4,500.  With the hybrids, almost all cars will gain 10 MPG in upgrading to the hybrid cars.  The questions are, what vehicles are there?  How much are they compared to a regular vehicle?  Are there any tax advantages to buying a hybrid?  Is it ultimately worth it?  Don't fret...I am going to answer all these questions below.

First things first.  We all know that the hybrids are much more fuel efficient than their normal predecessors.  the problem is the cost of all the technology that goes into the vehicles.  If the price of these cars was the same as a normal car, then we all we buy them.  But that is not the way it is.  So you need to figure the money you will save on gas, the cash back offers, and government incentives such as CARS and tax credits to see if it offsets the cost enough to justify such a purchase.  And here we go! 

Don't forget that there are ways to decrease the cost at the pump very easily as well.  The discover card down below will actually give you 5% back on every gallon.  Thus on an average $40 fill up, you will get $2.00 back.  And they give you 1% on everything else.  Great way of making the road a little more affordable.

The top ten hybrid list:

1:   2010 Honda Insight:  $19,800 is unbelievable for a hybrid.  It gets an astounding 40 miles to the gallon in the city as well as 43 MPG on the highway.  It qualifies for the full $4,500 from the cash for clunkers deal.  It is a sweet four door hybrid car that holds 5 passengers as well as having a hatchback for easy loading.  The car sports a nice continuously variable transmission with a 13 hp electric motor.    Here is my take on the Honda Insight Hybrid , you will need 238 gallons of gas to run the car for 10,000 miles which is an average years usage.  That 238 gallons times an average of let's say $2.50 a gallon will cost you $595 dollars for the WHOLE YEAR!  A regular car's fuel getting 20 MPG would cost $1,250 for the year.  This saves you $655 per year for every year you own it.  After 5 years, that is $3,275 in your pocket thus offsetting this car's price even more.  Now if gas goes above $2.50, which we know it will, then you save more.  So with the fuel savings of roughly $4,000-$5,000 over the life of the car and the cash for clunkers money of $4,500, this car is begging to be brought home.  Now all Honda has to do is give us some cash back and they will not be able to keep up with the demand.

2.  2010 Toyota Prius:  The Toyota is priced at $21,999 which makes it reasonable for all the gains you get in fuel efficiency.  It gets a whopping 48 MPG in the city and 51 MPG on the highway making it one of the best for MPG.  After the $4,500 from the cash for clunkers program,  making it a final $17,499.  Keeping in mind the money you save from fuel and the lower expense of upkeep, this is a very nice deal for a hybrid.

3.  Chevrolet Malibu Hybrid:  It is about time Chevy stepped it up with a decent hybrid.  This car was introduced during the 2008 year with mild success.  This 2010 version gives you 34 MPG highway and only 26 MPG city making it one of the lower fuel efficient hybrids.  But what it lacks in efficiency, it makes up with room and quality.  The price for this hybrid comes in at $25,925 before the $4,500 for the cash for clunkers program.    And rumor has it that they are coming out in August with some sweet cash back deals as well.  We will have to wait and see.  Plus it still gets $1,300 back in tax credits as well.

4.  Ford Fusion Hybrid:  This hybrid is nicely priced at $27,270 before the clunkers money and sports gas mileage of 36 MPG highway and an even more impressive 41 MPG in the city which is very cool for the intercity commuters.  For a mid-size sedan, this hybrid really gives you fuel efficiency and comfort.  Below is a  video that goes through the Ford Fusion Hybrid.

5.  Honda Civic Hybrid:  This car is a great example of what Honda can do with its technology wing.  The hybrid has a MSRP of $23,650 and gets 45 MPG on the highway and 40 MPG in the city, making it one of the better hybrids out there.  You got to love Honda anyways due to the safety features in all of their cars.  The Honda Odyssey is their number one safety rated van in all the world.  I am sure that this car has to be similarly rated.  After the $4,500 back from Uncle Sam, you will be left with a bill for $19,150 and there may be some tax incentives in there.

6.  Toyota Camry Hybrid:  This Camry is everything you would want out of a ride.  Class and comfort and a decent price tag of $26,150 to boot.  This hybrid gets 34 MPG on the highway and 33MPG in the city making it a middle of the road hybrid for gas mileage.  It is a nice four sedan version and gives the passengers plenty of leg room.  After the CARS rebate, you are looking at $21,650 out of pocket.  My guess is that they will throw some money in cash back incentives in August to make this a sweeter deal.

7.  Saturn Aura Hybrid:  I always hate doing write ups about Saturn cars.  They are nice and of good quality, but the price tag always makes me jump.  Too much for something I can find elsewhere at a much lower price with more options.  That being said, I love the way the went with this hybrid.  They kept the price tag down to a reasonable $23,900 making this one of the more affordable hybrids.  But it lacks in gas mileage coming in at 32 MPG for the highway and 24 MPG for the city.  Very nice hybrid sedan for the price tag.  Being that you will get this for $19,400 after the clunkers cash.

8.  Nissan Altima Hybrid:  At $26,650 and getting 33 MPG highway and 35 MPG city, this car sports luxury and fuel efficiency in one package.  It is very highly ranked for safety and comfort.  This sedan is worth a test drive if you are in the market. 

 9.  2010 Mercury Milan:  Another mid size sedan that has made the cross over to earth friendly hybrid life.  It gets an astounding 36 MPG highway and 41 MPG city which is great for a mid size car.  The price tag comes in at $27,500 which isn't too bad once you take the size and comfort of this car into perspective. 

10.  Saturn Vue Hybrid:  Another Saturn and another higher priced ride.  This car offers 25 MPG in the city with 32 MPG on the highway.  I don't understand why they invest so much on this new technology and then give us cars like this.  Don't get me wrong, it is a nice car, but only 25 in the city?  Why doesn't a company start up and go pure electric and be first to market.  I believe that would go along ways in control the future automobile industry.  Oh yeah...the price.  This ride comes in at..ummm we don't know yet since they have not told anyone.  It is a very sweet SUV though and will be the cheapest hybrid version out there.  They only other one is the Ford Escape Hybrid and that is expected to be about $4,000 more than this one.  We will see.