Gas Prices are Crazy. Is Now the Time to Buy a Hybrid? Episode 113
About this episode
Fuel prices are soaring amid global uncertainty, prompting many to reconsider their next vehicle purchase. Joseph Eune from Edmunds discusses how rising gas costs are driving increased interest in hybrids and electric vehicles, especially as used EVs become more affordable and practical. The episode explores the appeal of hybrids as a familiar, efficient alternative for those hesitant about full EV adoption due to infrastructure concerns. The conversation also touches on how political factors influence buying trends but ultimately, cost savings at the pump remain the primary motivator for consumers.
hybrid
"Maybe now is the time to buy a hybrid, or perhaps an EV. I'm Greg Migliore, welcome back to the AutoGuide Show..."
A hybrid car uses both gas and electricity to help it go farther without using as much fuel. It can switch between the two to save gas.
A hybrid vehicle uses both a gasoline engine and an electric motor to improve fuel efficiency and reduce emissions. The electric motor assists the engine and can sometimes power the car alone for short distances.
electric vehicle (EV)
"Maybe now is the time to buy a hybrid, or perhaps an EV. I'm Greg Migliore, welcome back to the AutoGuide Show..."
An electric vehicle is a car that runs only on electricity instead of gas. You charge it by plugging it in, and it doesn’t make pollution when you drive.
An electric vehicle (EV) runs entirely on electricity stored in batteries and does not use gasoline. EVs produce zero tailpipe emissions and require charging from an external power source.
eBay Motors
"I'm Greg Migliore, welcome back to the AutoGuide Show, presented by eBay Motors. This week, we're talking to Joseph Eune of Edmonds..."
eBay Motors is a website where people can buy and sell cars and car parts online, kind of like an online car market.
eBay Motors is an online marketplace where users can buy and sell vehicles and automotive parts. It offers a platform for private and dealer sales with various protections and services.
Mother's California Gold Car Care Collection
"This week, I'm also doing the gear test, and I reviewed a couple of products from Mother's California Gold Car Care Collection, including a spray on wax."
Mother's California Gold is a brand that makes special products to clean and protect cars, like wax that makes the car shiny.
Mother's California Gold Car Care Collection is a brand of automotive detailing products including waxes, polishes, and cleaners designed to protect and enhance vehicle finishes.
spray on wax
"I reviewed a couple of products from Mother's California Gold Car Care Collection, including a spray on wax. In the AutoGuide garage..."
Spray on wax is a liquid you spray on your car to make it shiny and protect the paint without much effort.
Spray on wax is a type of car wax applied by spraying onto the vehicle's surface, offering a quick and easy way to add shine and protection to the paint.
Rivian R1-T
"In the AutoGuide garage, I've been driving the Rivian R1-T, and our road test editor, Kyle Patrick, joins me to talk about his time in the Mitsubishi Outlander plug-in hybrid."
The Rivian R1-T is a fully electric truck that doesn’t use gas. It’s made by a company called Rivian and can drive a long way before needing to recharge.
The Rivian R1-T is an all-electric pickup truck made by Rivian, an American electric vehicle manufacturer. It features off-road capabilities and a long electric range, representing a new wave of electric trucks in the market.
fuel crisis
"Yeah, I think it's perhaps expected. Every time there's some sort of fuel crisis, people tend to look towards the most obvious thing affected by fuel prices, which is their cars..."
A fuel crisis happens when gas prices go way up or gas is hard to get, so people start thinking about buying cars that use less gas or run on electricity.
A fuel crisis occurs when fuel prices surge or supply is disrupted, leading consumers to reconsider their vehicle choices, often shifting interest toward more fuel-efficient or alternative fuel vehicles.
electric vehicles
"but now that electric vehicles are in the mainstream for the most part. I think there's renewed interest whenever there's any kind of fuel spike for people that if they were in the market, maybe they wouldn't have considered it before."
Electric vehicles are cars that run on electricity stored in batteries instead of using gas. They are quieter and can be cheaper to run.
Electric vehicles (EVs) are cars powered entirely or primarily by electric motors using energy stored in batteries, rather than internal combustion engines using gasoline or diesel.
Kia EV6
"Some of these are actually pretty good vehicles. We're talking like maybe a 2023 Kia EV6. This isn't like a 2011 LEAF or something. Not that there's anything wrong with that, but it's like this is a car that could be still very much of the moment as far as technology."
The Kia EV6 is an electric car that runs on batteries instead of gas. It's a newer model with good technology and can drive a long way before needing to recharge.
The Kia EV6 is a modern electric vehicle from Kia, known for its advanced technology and competitive range. It represents the newer generation of EVs that are becoming more mainstream and accessible.
federal tax credit
"And that was kind of what the federal tax credit was for, right, to have mass adoption really quickly so that it can kind of filter down to the use market in a couple of your time."
A federal tax credit is money the government gives back to people who buy electric cars to help make them cheaper.
Federal tax credits are government incentives that reduce the cost of purchasing electric vehicles to encourage mass adoption and make EVs more affordable.
MSRP
"practically brand new EVs for probably sometimes less than half what the original MSRP was. And these are great cars that still get plenty of good enough range"
MSRP is the price the car company says the car should be sold for before any deals or discounts.
MSRP stands for Manufacturer's Suggested Retail Price, which is the price recommended by the car manufacturer for sale to customers before any discounts or incentives.
electric variant
"You think back to Prius, which now there is an electric variant of it, but it was Prius, Prius hybrid for most of its life."
An electric variant means the car runs only on electricity, without using gas. It’s better for the environment because it doesn’t produce smoke from the tailpipe.
An electric variant of a car is a version powered solely by electric motors and batteries instead of a gasoline engine or hybrid system. This type of vehicle produces zero tailpipe emissions.
EV infrastructure
"And I think in the early days of EV ownership and kind of still to this day, depending on where you live, that infrastructure support isn't there."
EV infrastructure means the places and equipment where you can plug in and charge electric cars. If there aren’t many chargers nearby, it can be hard to use an electric car.
EV infrastructure refers to the network of electric vehicle charging stations and related support systems that enable convenient recharging of electric cars. Its availability varies by location and affects EV usability.
charging network
"And if you live in a, even like a semi rural area where you may not have the charging network capabilities that exist for you, then that means it's not really an option for you to even consider."
A charging network is a group of places where electric cars can be charged. If you live somewhere without many chargers, it can be hard to keep your electric car powered.
A charging network is a system of public electric vehicle charging stations that drivers can access to recharge their EVs. The density and reliability of these networks impact the practicality of owning an EV, especially in rural areas.
miles per gallon
"these cars are getting what, 40, 50 miles to the gallon now, you know, when you're driving in the city."
Miles per gallon tells you how far a car can go using one gallon of gas. The bigger the number, the less gas you use, so you save money.
Miles per gallon (MPG) is a measure of fuel efficiency indicating how many miles a vehicle can travel on one gallon of gasoline. Higher MPG means better fuel economy and lower fuel costs.
fuel prices
"...And, you know, it's six, seven months later, and they're like, well, wait, fuel costs this much. I don't really care if it's, this isn't a political issue for me..."
Fuel prices are how much it costs to buy gas for your car. When gas gets expensive, people often look for cars that use less fuel or run on electricity.
Fuel prices refer to the cost per gallon or liter of gasoline or diesel fuel. They fluctuate based on global oil markets, taxes, and local supply and demand, influencing consumer behavior and vehicle choices.
alternative fuel vehicles
"...the adoption rate for these hybrids and alternative fuel vehicles might be lower but we'll have to see. I think the interest is definitely there..."
These are cars that run on different types of fuel instead of just regular gas, like electric cars or ones that use special fuels to be cleaner.
Alternative fuel vehicles use fuels other than traditional gasoline or diesel, such as electricity, hydrogen, or biofuels, to reduce environmental impact and dependence on fossil fuels.
impulse purchase
"...making the switch is not as easy as as it sounds it's not like a it's not like we can you know make an impulse purchase on a car these days..."
Buying something quickly without thinking about it much, just because you want it right then.
An impulse purchase is a spontaneous, unplanned buying decision, often made without thorough consideration of the cost or need.
average monthly payment
"...average monthly payment is flirting dangerously close to $800 a month and even if you consider leasing as opposed to financing an EV..."
This is how much money most people pay every month to have their car, either by loan or lease.
The average monthly payment is the typical amount a buyer pays each month to finance or lease a vehicle, including principal, interest, and fees.
leasing
"...and even if you consider leasing as opposed to financing an EV because the incentives at least at the federal level aren't there anymore..."
Leasing is like renting a car for a few years where you pay monthly but don't own it when the time is up.
Leasing a car means you pay to use the vehicle for a set period, usually with lower monthly payments than buying, but you don't own the car at the end of the lease.
federal incentives
"...because the incentives at least at the federal level aren't there anymore you have to fight much harder to get a worse deal than you could have prior to September 2025..."
These are special money savings or discounts from the government to help people buy cleaner cars like electric ones.
Federal incentives are government programs that offer financial benefits like tax credits or rebates to encourage consumers to buy environmentally friendly vehicles such as electric or hybrid cars.
BMW X5
"...you know the BMW whatever well we have a hybrid x5 for you so it seems like they're sort of well positioned right now but if it does drag on you know it would be sort of like a back to the future sort of thing..."
The BMW X5 is a fancy SUV that can use both gas and electricity to help save fuel. It’s a popular choice for people who want a nice car that’s also more efficient.
The BMW X5 is a luxury midsize SUV known for combining performance and comfort. BMW offers hybrid versions of the X5 that use both gasoline and electric power to improve fuel efficiency.
K-shaped economy
"...a lot of things that people that talk about economics are talking about right now is the k-shaped economy where kind of a minority of the consumer base is upholding a big part of the economy and that reflects true in the auto industry as well..."
A K-shaped economy means some people or groups are doing well and making money, while others are struggling and falling behind.
A K-shaped economy describes a situation where different parts of the economy recover or grow at different rates, leading to increasing inequality between groups, such as high-income households versus lower-income consumers.
fuel efficiency
"...you're thinking oh man this car only gets you know 25 miles to the gallon what's it gonna cost me to get into something that's more fuel efficient..."
Fuel efficiency tells you how far your car can go using a little bit of gas. A car that goes farther on less gas saves you money.
Fuel efficiency measures how far a vehicle can travel on a certain amount of fuel, often expressed in miles per gallon (MPG). Higher fuel efficiency means lower fuel costs and less environmental impact.
interest rate
"...plus the cost of the new vehicle plus whatever the interest rate is now which I don't think is any lower than four years ago if anything it's higher so when you factor in those things..."
Interest rate is the extra money you pay when you borrow money to buy a car. If the rate is high, you pay more each month.
Interest rate refers to the percentage charged on a loan, such as a car loan, which affects the total cost of borrowing money to purchase a vehicle. Higher interest rates increase monthly payments and overall loan cost.
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