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Still, as good as these cars may be for the environment, consider the long-term impact on your wallet. Here are some financial questions even the most stringent environmentalist should consider before purchasing a hybrid.
Can you and your family afford to spend an extra $1,500 to $4,000 upfront on a new car?
How long do you plan to keep the car? The resale value of a used hybrid is a big question mark. It's possible you could take another financial hit when you sell a hybrid. If you're not prepared to keep a hybrid for the long haul, think twice about purchasing one.
Can you afford the repairs? A key concern for long-term hybrid owners is maintenance costs. If you keep a car beyond warranty, you'll be stuck with the repair bills and they could get expensive.
"At some point the batteries are going to have to be replaced and they're expensive," says Larry Webster, a technical editor at Car and Driver. "The cost could be anywhere from $1,000 to $2,000."
The hybrid parts in a Toyota Prius, including batteries, are covered by an eight-year, 100,000-mile warranty. Honda covers its hybrid systems with an eight-year, 80,000-mile warranty. So in your ninth year as a car owner, you'll be on the hook for any hybrid repairs in addition to the car's ordinary maintenance costs.
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