Do Hybrid Cars have a Higher Resale value – No
Although many have commented on how hybrid vehicles will come to have a higher resale value, there is little evidence to either defend or refute this assertion, the reason being that hybrid cars are too new to have accurate information on how much they have sold for used. Proponents of this assertion are relying on the belief that as gas prices continue to rise and more and more people try to tighten their wallets hybrid cars will continue to grow more attractive. Since the main reason many of those who would benefit the most from saving on gas do not already have hybrid cars is the expense, say proponents, there will be a larger market for used hybrids in five to ten years than for other cars. Opponents argue that maintenance costs will be higher on hybrid cars, particularly in reference to battery life, and that there is little reason to suspect that hybrids will have higher resale value. The nay sayers are, in this case, probably right.
The battery life issue is a questionable one. If a battery does go out, the car is practically worthless since most used cars sell for less than the battery would cost to replace. That is, after all, one of the main reasons hybrids cost more. The question then is, are battery lives really that short? Probably not, but statistically people evaluate risks as more likely to occur than they really are, and so may be wary of buying an old hybrid. Speaking of cost, to make a fair comparison we would have to look at hybrid cars in relation to other cars of the same price. Surely, if you have two cars of the same model with the same features the hybrid would have a higher resale value, but it would also cost more. What if you were comparing a hybrid car to a more luxurious model that cost the same? Status symbols are highly valued in American society, but then again people buying used cars usually aren't looking for status symbols. Likely the determining factor will be the cost of gas when it comes time to sell your car.
Speaking of gas prices, the real killer comes down to this: will hybrid cars be in when it comes time to sell your car? With all the talk of hydrogen fuel cells, gasoline made from corn, biodiesel, and pure electric cars, will hybrids turn out to be anything but a fad? Many people are trying to save gas by using other forms of transportation, and there are several initiatives towards creating improved public transportation, so there is really no reason to suggest that in even just a few years hybrid cars will still retain their value, much less than in, say, ten years. In the end, there is little reason to suspect that hybrid cars will have either a higher or lower resale value than standard models, but is that the only reason you are buying it? Cars have low resale in general compared to other products of similar cost, but the hybrid will save you on gas and help the environment. You have to ask yourself, is that alone worth it? If not, resale probably doesn't matter that much.
