Articles - Archived Feature

Is a Green Car in Your Future?

It's that time of year when the current inventory of cars and trucks are priced to move, making room for new models on the lot. Yes, it's car buying season. If you're in the market for a new ride, you have more options than ever. One of them is going green.

A "green" vehicle is one that is significantly less harmful to the environment than conventional gasoline-powered models. While it may still be powered by gas, other options include gasoline-electric hybrids and vehicles that run on alternative fuels.

The advantage of going green is that it harms the environment less by reducing pollutants and exhaust emissions. Also, green cars typically have great fuel efficiency, meaning you could spend much less at the pump. The disadvantage is that these vehicles are often more expensive to purchase. The good news is there is a way to help offset the cost.

If you are a local government employee and buy a new or used car (used must be within the prior two model years) with a combined miles-per-gallon (mpg) rating of 28 mpg, you qualify for Local Government Federal Credit Union's Green Car Program. Green car loans carry an interest rate one percent less than the current new and used vehicle rates. To find the car's mpg rating, just look at the window sticker or visit the U.S. Department of Energy's website at www.fueleconomy.gov.

Saving money and the environment—it's a win-win!