Now is a Great Time to Buy a Used Hybrid

About year or so ago, when gas prices were through the roof, hybrid vehicles were all the rave. They are still a great option for reducing emissions and greenhouse gases, but if you’re only buying one to save at the pump, Kelley Blue Book advises you to buy used.

Kelley Blue Book is the leading provider of used car information. In its Blue Book Market Report for September 2010, Kelley indicates that values for new hybrids are dropping off, because demand is not as high as it was a year ago. Fewer people are buying hybrids, because gas prices have remained steady for so long.

According to Kelley Blue Book, it takes 16 years to recover the cost of a new hybrid, versus the five years it takes to break even when purchasing a used hybrid. If you’re intent on owning a hybrid, Kelley recommends purchasing used hybrids with around 60,000 miles. That gives you the best hybrid value, as well as a greener alternative.

Kelley Blue book is also reporting that more people are buying used hybrid SUVs than any other model of hybrid - particularly 2008 models. Many of the top 10 vehicles experienced a redesign or launch for that model year, and they are proving to be a better deal than new hybrid SUVs.

Neighborhood Credit Union makes it even more affordable to buy a used hybrid or any other used car for that matter, because our rates for new and used vehicles are the same. Right now, our rates on new and used vehicles are as low as 3.49% APR. Plus, if you have a vehicle financed with another lender, we’ll pay you $200 to refinance it with us.

More information about this special offer is available here.

Also, don’t forget to use our FREE Car Buying Service. Once you’re pre-approved for your Neighborhood Auto Loan, our vehicle locator specialist will do research vehicles for you, find the car you are looking for in the price range you can afford, and take care of the paperwork. All you have to do is sign and drive.