Benefits of a Hybrid or Electric Car


If you’re considering buying a car this year, you’ll want to read the benefits of an electric or hybrid car and how Colonial’s competitive auto loan program get you in the car you want. There are a number of factors that go into deciding what new car to buy. Things like cost, comfort, reliability, looks, speed, convenience and amenities to name a few. But have you considered an electric or hybrid car? Switching from a traditional vehicle to an electric or hybrid car can definitely have its benefits. If you’re considering buying a car this year, you’ll want to read the benefits of an electric or hybrid car and how Colonial’s competitive auto loan program get you in the car you want.

Save Money at the Pump

Let’s face it, the greatest benefit to purchasing a hybrid or electric car for the majority of us is the money you will save in gas. For most cars, gas is essential for getting from point a to point b, and when gas prices increase, we don’t have much of a choice but to pay more at the pump. While electricity isn’t free, it’s much cheaper to charge your car than the money you spend on gas. According to the website Cars.com, the average cost to charge a plug-in car is equivalent to paying $1.21 per gallon or gas. And with the current average price of gas in the United States being $2.21 according to AAA.com, which can lead to some major savings.

Quiet Ride

Another benefit of a driving an electric or hybrid car is the quiet ride. Because the engine does not run off of gasoline, it’s much quieter than traditional cars. And let’s face it, we can all stand to cut out some excess noise in our lives, or work on our carpool karaoke auditions.

Zero Emissions

For those who are keen on reducing their carbon footprint and doing their part to help the environment, an electric or hybrid vehicle is a no-brainer. These cars put out significantly less emissions than traditional cars. Full electric cars put out zero emissions, so your vehicle won’t emit any waste products of pollutants. So if you like the idea of contributing to a greener society, this is the way to go.

More Charging Stations

As more consumers have been purchasing hybrid and electric vehicles in recent years, more and more charging stations have become available publically. Sure, you can always charge while you’re at your home, but now there are charging stations popping up at shopping centers, workplaces, airports and more. Since 2014, charging stations have doubled according to a University of Michigan study. This number is also expected to continue to increase as more and more hybrid and electric cars hit the road.

The distance these cars can now travel on is improving each year, with some models able to reach more than 200 miles on one charge.Improved Range

When electric cars first hit the market, the biggest concern was the relatively short distance the vehicle can travel on a single charge. The distance these cars can now travel on is improving each year, with some models able to reach more than 200 miles on one charge. For most commuters, 200 miles is more than enough to get them safely from place to place, and with more charging stations like mentioned above, there is far less concern when driving an electric car.

Finance with Colonial

Getting the right financing is extremely important when buying your next car. While in-house financing from a dealership appears to be convenient, they often do not offer the lowest rates or excellent customer service. Colonial offers very low rates on auto loans and can get the wheels moving on your auto finance needs today. Colonial also earned a “Five Stars – Highly Recommended” rating from Bauer Financial as one of the strongest banks in the nation, and has a number of convenient locations throughout Dallas-Fort Worth. Want to learn more – give us a call today at 817.390.2000, or apply online at GoColonial.com.

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