Tips for Buying a Hybrid Car

Currently, because of demand, buying a hybrid may take a little more leg work than with a traditional vehicle. This is especially true with popular cars, such as the Toyota Prius.

• Get on a Waiting List Early: Once you hear of an upcoming hybrid that you’d like to buy, it’s a good idea to get on a waiting list at your local dealership. This will help you avoid the longer wait lists that may occur after the vehicle hits the market. You will also probably avoid paying higher than the MSRP, which may happen after demand increases. On the downside, you will probably have to put down a deposit, which may be non-refundable.

• Get financing from a credit union: for the lowest interest rates. Get preapproved so you can walk back into the dealership with a check and make a cash offer.

• Shop around for insurance: because prices are based on statistics. Overall, hybrid drivers are safer and get in less accidents, but each zip code and locality will have it's own statistics. Also, each insurance company has it's own statistics. Try online for at least 10 rate quotes for the same vehicle and same zip code to save at least 10% on insurance over a non-hybrid.

• Be Flexible with Options: It may be hard to get your hybrid in the exact color and option configuration you have your heart set on. If you’re flexible and willing to compromise, you will increase your odds of getting a hybrid much sooner.

• Shop Outside Your Market: If you live in an area with high hybrid demand or very few dealerships, you more than likely have to wait longer for delivery. But if you’re willing to travel to another market, you may find it easier to get your hands on your desired vehicle.

• Call your tax accountant: and ask him when the best time to buy a hybrid would be for the tax credits. If you're a business owner or buying for a fleet, talk to your regular accountant too to decide on financing, depreciation and accounting among other things. Decide exactly when you want to sell your hybrid (note that Toyota already expects next generation hybrids to go hundreds of miles without gasoline in other words electrics are here and all other cars could depreciate) to minimize the liability. Yes, cars are liablities because of gas prices, insurance premiums, dmv fee, use taxes, gas taxes, tolls, parking fees, maintenance charges, parts, cleaning fees, sales taxes, etc.

• Check Your State Laws: Some states give special treatment to hybrids, ranging from tax breaks to carpool-lane access. These laws vary widely by state, are subject to change and are often complex (e.g., not all hybrids qualify for carpool lanes in California), so be sure to research how your state treats hybrids before buying.

• Size Up the Premium: Hybrids generally cost a few thousand dollars more than comparable non-hybrid models. If you're buying a hybrid to save on gas expense, you should compare that cost premium with those potential gas savings. Here's a handy calculator that helps you estimate those savings for different models. Don't forget that there are often some Hybrid Tax Credits for owning a hybrid, so you should factor those into your calculations too.

For more on hybrids, check GreenHybrid.com.