Today you can save money while saving the environment. A hybrid car can offer the best of both worlds for your employees, and company as a whole, and you can purchase one with the right company car finance.
What Is A Hybrid Car?
A hybrid car combines the old internal combustion engine (diesel or petrol) with an electric motor, which is commonly powered by a lithium battery. This battery can be recharged in a number of ways, it just depends on the type of vehicle. Typically, the combustion engine drives an electric generator which charges the electric battery. Certain hybrids have regenerative braking while others can be plugged into a power source.
Types Of Hybrid Cars
Besides the variations in battery recharging methods, hybrid cars also have different drivetrains. The type of drivetrain is what dictates how the electric motor and combustion engine will work together to power the vehicle.
These are the different variations of hybrid cars:
Parallel Hybrid Cars
This is the most common type of hybrid and it is powered by an electric motor and combustion engine, both of which are linked to the vehicle’s transmission. When either of these are turned on, the power it generates propels the car. A parallel hybrid has a transmission controller that lets you change between the electric motor and gasoline engine.
Series Hybrid Cars
This car comes with the same components as the parallel hybrid car. The difference lies in their configurations. This type of hybrid car is when the electric motor is the only thing that propels the wheels, while the combustion engine charges the battery pack which, in turn powers the electric motor. – it’s not connected to the vehicle’s transmission.
Plug-In Hybrid Cars
Also using the combustion engine and a generator to power the electric battery, the difference with this type of hybrid is the way that they can also be plugged into an external power source using an external or on-board charger for the battery. They also have larger batteries, enabling them to go for longer distances with just the electric motor. A plug-in is the best choice if you cannot afford an all-electric vehicle but still want to drive green.
The Advantages Of Buying A Hybrid Car
- Lower diesel or petrol consumption which means you can invest more in your car finance and spend less on employee travel.
- Fewer carbon emissions.
- Smaller operating costs which means putting more into your initial car finance or back into the company.
- Larger cash back incentive from dealerships which means higher returns on your initial car finance.
When shopping around for your company car, take a look at the selection of hybrid cars that you could buy today with a loan from ZEP Finance. We can assist you with your company car finance on the Gold Coast.
After studying business and finance at university, Zain initially expected to pursue a career in finance. However, his passion for property and the experience of buying his own home led him to mortgage broking. He began his mortgage brokering career in 2009 and founded ZEP Finance in 2010.
