With the rising price of oil and gas, many consumers are pondering the purchase of a hybrid car as way of saving at the pump. But cost is not the only reason people are going hybrid.

It's also good for the environment, reducing emissions and dependence on oil.

Current hybrid makers Toyota, Honda and Ford are expected to face competition by other big name automakers such as GM, Nissan and DaimlerChrysler in the near future.

Toyota leads hybrid car sales with nearly 4,500 units sold in Canada since the launch of the Toyota Prius in 2000. Approximately 56,000 hybrid vehicles were sold in North America last year as engines continue to rev over the hybrid hype.

Even celebrities are getting green conscious with the likes of Cameron Diaz and Leonardo DiCaprio towing around town in their own gas-electric models.

The market is booming and before you buy, here are some hybrid myths and facts to consider.

Myth #1: I will save a lot of money by driving a hybrid car

Saving at the pump doesn't outweigh the operating costs of hybrids in the long run.

Hybrid vehicles cost anywhere from $5,000 to $8,000 more than their conventional counterparts. For instance, while the Toyota Highlander V6 retails at around $37,855, the hybrid version costs nearly $6,350 more at $44,205.

You must also think of higher insurance rates, taxes and regulatory charges simply based on the higher price point of the hybrid alone. However, some provinces offer sales tax rebates to environmentally conscious car owners.

While the Ontario government offers a tax rebate of $1,000 on purchase of a hybrid, British Columbia and Prince Edward Island gives consumers a tax rebate of $2,000 and $3,000 respectively.

Ultimately, you will have to drive the vehicle for a very long time before seeing financial payoff according to Steve Akehurst, senior manger, EnerGuide for Vehicles program at Natural Resources Canada.

In a cost-comparison analysis between the standard Honda Civic and its Civic hybrid counterpart, Akehurst breaks down fuel consumption and savings in numbers for CTV.ca.

Based on 55 per cent city driving and 45 per cent highway driving, the Civic will consume an estimated 1,380 litres of fuel per 20,000 kms. At a 70 cent/L gas rate, this equates to fuel costs of $966 a year.

Meanwhile, the hybrid version is estimated to consume 900 litres of gas at a cost of $630 annually – an annual saving of not even half of the hybrid's gas engine counterpart.

"In most cases, you're not going to recover the cost premium today," Akehurst said. However, the cost of technology will decrease overtime, which means hybrids may sell at lower prices in the future. As a result, saving at the pump may eventually offset the initial purchase price.

He also notes that most hybrids earn their name through urban driving. "Aside from the fuel efficiency aspect, there are benefits with [lower] emissions."

Myth #2: Hybrid cars have remarkable fuel economy

Not quite. One of the selling points is fuel economy, but the amount of gas you preserve depends on the speed at which you drive.

There is excellent fuel economy when cruising in residential neighbourhoods and slow city traffic, because the electric engine runs the vehicle at low speeds.

"Full hybrids, like the Toyota Highlander, Ford Escape Hybrid and Toyota Prius can run on the battery power alone under light load conditions, such as stop and go-city traffic, so they actually get better fuel consumption in city driving than highway driving," Greg Wilson, editor of Canadian Driver told CTV.ca.

On the other hand, hybrids are not necessarily fuel-efficient when it comes to highway driving. At faster clicks, the gas engine must kick in since more power is needed to run the vehicle at high speeds.

In addition, fuel is used when the on-board batteries fall below a certain level. Here the gasoline engine is activated to recharge the battery pack as well as to run the electric motor.

Myth #3: Hybrids cause more environmental damage than they are suppose to cure

Batteries used to run the electric motor require hundreds of pounds of heavy metals that must be smelted and mined, but that does not outweigh the benefits of reduced gas emissions.

There is also a question of environmental safety when it comes to battery disposal. But both Toyota and Honda have battery recycle programs to ensure against the release of toxic hazards.

Wes Pratt, public relations manager at Toyota Canada told CTV.ca that they've never had a dead battery returned to their recycle program since the battery is theoretically supposed to last the lifetime of the hybrid vehicle.

Myth #4: It's more expensive to maintain a hybrid

"That is a common misconception," Rebecca Wu, Toyota Canada's public relations consultant told CTV.ca. "All hybrid components are expected to last the life of the vehicle."

Since battery packs are designed to last the life of the vehicle, they do not need to be replaced every five to seven years as previously suggested.

The only time a battery would need to be replaced is if the car has been in a major accident, where the electric motor has been totaled. In this case, the battery would cost anywhere from $3,200 to $3,500, according to Pratt.

Generally, hybrids are said to be quite reliable with long intervals between service periods. "The cost to maintain a hybrid is comparable to a counterpart gas-powered vehicle," Akehurst said.

In fact, a regenerative braking system that allows hybrids to turn heat into energy during braking and in turn recharges the battery pack, contributes to less wear and tear. "The brakes actually last longer than a regular car," Akehurst said.

Though there may not be significant differences in maintenance costs, Akehurst cautions that dealerships require specialized training in hybrid maintenance. "You may not be able to buy a hybrid and have it serviced in all markets," he reminds consumers.

Myth #5: You need to plug your car in an outlet to recharge the batteries in your hybrid every night

This is a common misperception. You never have to recharge the car by plugging the batteries into an outlet.

The braking system in hybrids allows the electric motor to recharge the batteries every time the vehicle is at a stop. At slow-down periods such as when a driver taps on the brakes, the car's mechanical energy is transferred into electricity. The gas engine deactivates and the electric motor acts as a generator to recharge the car's batteries. You simply need to gas and go.

Myth #6: Hybrid cars don't perform as well as their conventional counterparts

"It depends which hybrid you're talking about," Greg Wilson, editor of Canadian Driver told CTV.ca. The key concern with performance is the acceleration rate and some hybrids measure-up while others are left in the dust.

For instance, Honda claims that its 2006 Honda Civic Hybrid can go from zero to 100km/hour in about 12 seconds. Wilson notes it was recently tested at the AJAC Car of the Year TestFest going 14.9 seconds. "A regular Civic will do it under 10 seconds," he said.

However, Toyota's Highlander Hybrid actually has more horsepower (268) including combined gas engine and battery power than the Highlander V6 (at 230 horsepower). The hybrid form of the SUV is also quicker in straight line driving despite being a heavier vehicle Wilson said.

"The old days of electric cars being slow are no longer relevant," Wes Pratt, public relations manager of Toyota Canada told ctv.ca. The Hybrid Highlander has very high acceleration -- going from zero to 100km/hour in seven point five seconds, half a second faster than the V6. "The stats speak for themselves," Pratt said, adding that you don't have to sacrifice speed for fuel economy anymore.

Myth #7: Hybrids are unsafe

The fact that a vehicle runs on a gas-electric motor has no bearing on its safety rating.

Each vehicle, regardless of whether it runs on gas or not, independent of size, has its own safety rating.

Natural Resources Canada, the federal department that specializes in sustainable development and energy resources, claim that "hybrid electric vehicles are as safe -- or safer than -- gasoline-powered vehicles."

"The misperception is that if you're in a bigger vehicle, you're safer," said Steve Akehurst, senior manger, EnerGuide for Vehicles program at Natural Resources Canada. But some larger SUVs have roll-over concerns and this also applies to hybrid SUVs.

"A hybrid must meet the exact same crash test and safety as any other light-duty vehicle sold in Canada," he said. "The modern vehicle is certainly a safe vehicle."

The only significant safety concern with hybrids may be when a passenger needs to be pulled from the vehicle in an accident situation. Akehurst said emergency response personnel may be at risk around a hybrid vehicle after a collision.

"They need to be aware of the high-voltage of hybrids," he said. This is because the electric battery runs on anywhere from 300 to 500 volts and can prove to be deadly if engine wires are incorrectly disabled.

Myth #8: Hybrids are the wave of the future

Though there is an increasing demand for hybrids, they still only occupy a small portion of the auto market at 1 per cent of the more than 17 million vehicles sold in North America today.

"Many manufacturers are bringing hybrids to the market because they see it as an interim step to fuel cell technology," Akehurst explained.

Hydrogen fuel cell cars – zero-emission vehicles powered by fuel cell technology -- are predicted to be the long term solution to society's dependence on fossil fuels. And the first of its kind is also expected to be a hybrid of some sort as well -- with an electric battery source powering the fuel cell engine.

But the shift to a hydrogen-based transport system is not expected for at least another 10 to 20 years.

The market for hybrids is expanding and Akehurst said that more and more manufacturers are hopping on the green train -- with Nissan recently talking about launching a hybrid version of its Altima in the coming year.