As we're sure you've noticed every time you've gone to refill your gas tank in the last few months, gas is once again relatively cheap. Just under a year ago, the price for a gallon of fuel was about double what it is today in most parts of the country, and those high costs were driving the sales of hybrids – both new and used – to record levels. Now? Well, not so much.
According to Kelley Blue Book, used hybrid prices have fallen by an amazing 23.5 percent since last summer, and 4.5 percent of that has come in the first two months of 2009. It's not just fuel prices that are causing hybrid values to plummet. Due to the lack of discretionary spending money and despite the savings on each tank of gas, the extra cost associated with a hybrid at the time of initial purchase is something that many buyers are unwilling to consider.
Perhaps there's a positive side to this story. Buyers looking to get a good deal on a used hybrid should have plenty of options to consider. Then, when the price of fuel inevitably climbs back up, you can laugh all the way to the bank.
[Source: USA Today]
According to Kelley Blue Book, used hybrid prices have fallen by an amazing 23.5 percent since last summer, and 4.5 percent of that has come in the first two months of 2009. It's not just fuel prices that are causing hybrid values to plummet. Due to the lack of discretionary spending money and despite the savings on each tank of gas, the extra cost associated with a hybrid at the time of initial purchase is something that many buyers are unwilling to consider.
Perhaps there's a positive side to this story. Buyers looking to get a good deal on a used hybrid should have plenty of options to consider. Then, when the price of fuel inevitably climbs back up, you can laugh all the way to the bank.
[Source: USA Today]
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