One of the worst parts of having an older car is constantly refilling the tank with expensive gas. If you're driving a junker, here are a few reasons why a new hybrid is a better choice for your daily commute.
1. Gas prices are expected to keep increasing. The United States Energy Information Administration (EIA) believes that demand for crude oil will continue to grow in 2013, "with China, the Middle East, Central and South America, and other countries outside of the Organization for Economic Cooperation and Development (OECD) accounting for essentially all consumption growth."
Drivers looking for an easy way to reduce their dependence on expensive gas can cut their costs dramatically by ditching old gas guzzlers in favor of hybrids. The California Energy Commission estimates that you can save over $10,000 in a 10-year period by switching from a 21 MPG car to a hybrid.
2. Buying a hybrid supports new technologies. Some car manufacturers insist that hybrids are bad for the environment due to the fact that many of the cars use a high number of imported parts. Ships pollute much more than cars, they argue, so hybrids have a negative net effect on the environment.
While this is partially true, drivers who support these new technologies also support the development of more efficient manufacturing processes. As hybrids become more popular, their manufacturers will do less importing and exporting, so the ecological consequences of buying a hybrid are clearly positive. Plus, if you're especially ecologically minded, you can donate your car to a charity or recycle its scrap metal.
3. You can get serious tax advantages by getting rid of your junk car and switching to a hybrid. If you decide to donate your car to a charity, for instance, you'll get a tax deduction for the charitable donation. You'll also get sizable tax deductions for buying the hybrid, so you could conceivably save a significant portion of the vehicle's total cost in your first year of taxes.
Check with a tax professional licensed in your state before donating your vehicle. You might be able to get more overall cash for your junk car by selling it. Likewise, you should research hybrids before buying. Look at miles per gallon, dependability ratings, safety ratings and other info to make a knowledgeable choice.