Hybrid cars are all the rage. They have a certain mix of trendiness and social awareness that is popular among celebrities and normal folks alike. Automotive manufacturers are quickly catching on to the craze and offering a large variety of hybrid models. In addition to being trendy, popular and environmentally conscious, hybrids also have another great selling point- they have excellent resale values.
Proponents of the hybrid craze like to emphasize that hybrids will not save all buyers money, though advocates of these vehicles insist that in many cases a used hybrid can sell for as much as a brand new one. Hybrid supporters also point out that in many cases, the vehicle does not instantly loose value the second the buyer drives it off the lot.
Hybrids also impart a feel-good factor onto their drivers. Many buyers want to do their part to be more environmentally savvy and hybrids allow consumers to take the next step towards going green.
Here’s an interesting example: In 2005, the MSRP for a new Toyota Prius was $22,546. According to The Kelly Blue Book, the resale price for a 2005 Toyota Prius with all the same features is $25,470. That’s a resale value far superior to any other traditional gas-only vehicle. While resale prices vary for different hybrid makes and models, the Prius has retained the highest value.
But what if the Prius is not your style? Well you’re in luck! Automotive manufacturers are designed all kinds of hybrid vehicles to suit the wide preferences of drivers. In the market for an SUV? Check out Ford’s hybrid Escape. GMC and Chevy are developing their own hybrid pick-ups for those who prefer trucks. Honda offers the Civic hybrid as well as the popular Accord in a hybrid model. The best-selling Toyota Camry offers buyers a hybrid version of their favorite model too.
As technology advances, expect to find an even wider selection of hybrid vehicles. Not only will these popular cars, trucks and SUV’s save you money at the pump, you will also be doing your part for the environment. And when it comes time to trade in your hybrid for a newer vehicle, be prepared for a very attractive resale value.