Savings for your Wallet and the Environment

Have you been wondering about a fuel-efficient car? There are three types gaining in popularity; the hydrogen fuel cell, compressed natural gas, and plug-in electric car. All could lessen fuel costs and tailpipe gases that contribute to air pollution and global warming.

Plug-in electrics
These cars will run on a battery-powered electric motor for up to 40 miles on one charge—a distance that covers the daily round-trip commute of more than 75% of Americans. Some models will have a small gasoline engine—but only for recharging the batteries once they begin to get low; it will not drive the wheels.

Compressed natural gas cars
U.S. natural gas supplies are plentiful, and the technology is already pretty well-demonstrated. The big issue is refueling; because of this, most natural gas cars have been sold in the past to state and local governments that had their own refueling stations.  If your home already has a natural gas supply, you potentially could install a natural gas pump for a car.

Hydrogen fuel cell vehicles
A fuel cell uses a chemical reaction that produces electricity. This is the most innovative new technology, but also the furthest from producing large numbers of everyday vehicles. General Motors says it hopes to be selling fuel cell cars within a few years, but the fuel supply issue remains problematic.

It isn’t yet clear when these models will be widely available, so right now, the best way to save on high gas prices for most people is to buy a smaller car with better gas mileage than their old vehicle.

If you’re thinking of trading in or purchasing a vehicle, visit Hopewell Federal to discuss all your financing options.

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