Connected vehicles are promoted with the use of different communication technologies for diverse applications and services. There is an ongoing debate in the research and industry communities whether short range communications based on IEEE 802.11p or cellular based on 3GPP LTE should be used for vehicular communications. We propose a mechanism to utilise both short range and cellular communications simultaneously in a cost efficient way while providing the required quality of service to the users. A host connected to multiple networks is referred to as a multi-homed node and SCTP (Stream Control Transmission Protocol) is an IETF standard which supports multi-homing. We propose an extension to SCTP that takes into account not only path quality but also the cost of using each network. It is shown that the combination of QoS and cost information increases economic benefits for provider and end-users, while providing increased packet throughput.Keywords: SCTP, cost efficiency, hybrid network architecture, heterogeneous vehicular networks, LTE, DSRCCitation: K. Katsaros, M. Dianati. A cost-effective SCTP extension for hybrid vehicular networks [J].