With advancements in the world of technology, fuel-powered cars are becoming dormant, and hybrid and electric vehicles are gaining popularity. They are becoming a leading choice since they boost a vehicle’s efficiency, and a growing number of manufacturers are building their base in the hybrid and electric cars segment. Here are some tips to help you choose between hybrid and electric cars when you’ve to make the decision: 1. Efficiency Since electric cars run only on electricity, they do not have a backup for fuel. So, they are more efficient and leave behind a zero-carbon print. On the other hand, the batteries in a hybrid vehicle have high voltage, which is dangerous in the case of an accident, as it increases the risk of electrocution of the riders. 2. Environment-friendliness An electric car does not need gas as it functions entirely on electricity. However, a hybrid vehicle uses relatively less fuel compared to an entirely fuel-powered car, making it comparatively more eco-friendly. 3. Replacements and maintenance An electric vehicle does not need repairs or maintenance like an oil change. At the same time, these cars require an additional set of equipment like charging cable. Also, you may often need to replace such items in a span of 3-5 years.

Vehicle leasing is a type of financing where you rent the vehicle for a particular time-frame. After the rental duration ends, you have to return the vehicle. However, in the case of a car loan, the car’s ownership remains with you. In both cases, you have to make monthly payments and would need to have a decent credit score. In this article, we will talk about credit scores for leasing vs. financing a new vehicle: Credit score needed for leasing 1. Acceptable credit score The exact credit score required for leasing a car differs from dealership to dealership. But a minimum score of 620 is acceptable by all dealerships. It is advisable that you keep your score above 620. This is because if a score falls in the range of 620 and 679, it is considered near ideal. But the moment you land between 680 and 739, the dealerships will start offering appealing lease offers. The impact of leasing on credit score considers these points: Lease payments: Amount to 35% Installment account: It accounts for 10% The number of payments: Make regular payments towards your lease as these amount to 30% of your FICO score 2. Credit history If you have been making longer and regular payments on your account, they will age and make your credit history good.

Several factors determine the car insurance amount you have to pay. Everything from your driving history and the kind of coverage you possess to where you park your vehicle impacts the premium amount. Although the parameters may vary with each company, here’s how car insurance is usually calculated: 1. Age One of the factors that most insurers consider is age. Young drivers typically have a lower experience behind the wheel, so they are, statistically, more susceptible to be involved in an accident. This means drivers between 17 and 25 years of age have to pay a higher premium amount. Many believe that drivers enjoy the benefit of a lower insurance premium after they reach the age of 25. While this may not always happen, there are also other ways you can use to reduce your premium amount. 2. Type of coverage Generally, there are several options to pick from when you’re shopping for a car insurance policy. Naturally, the more comprehensive the policy coverage is, the higher the premium amount will be. For instance, an auto insurance policy that only covers liabilities will be relatively inexpensive as compared to a policy that covers liability, collision, medical payments, underinsured, or uninsured motorist insurance.