A plug-in hybrid might cost $4k more than a comparable traditional hybrid. Traditional hybrids are already very fuel efficient, 54mpg city. Then, you may need to buy a charging station, pay an electrician to install, and pay the electricity cost of recharging the vehicle. That’s all to say it’s unlikely a plugin will save you money, before tax incentives. Given that, there’s two main reasons to get a plugin vehicle at this point.
- The federal tax credit can offset the costs above. I would check to make sure the new tax law didn’t reduce this.
- You’re concerned about global warming.