Automotive Guide Rebates and Government Incentives for Fuel Efficient Car Owners
By: Paul FezziwigAutomotive Guide
One big criticism of buying a hybrid car is the price tag, it's roughly $2500 more than a simlar gas powered car.
Sure you save over $1,125+ a year ($3/gallon/40mpg/15,000 miles annually) and that justifies the cost in about 2 years but that just doesn't cut it publicly in our Ford Expedition media friendly society.
Well things are pretty sweet in the rebate and tax incentive side of things for these cars in case the gas savings isn't enough for you.
The federal government offers up to a $3,400 tax credit for hybrids purchased after 2005 and a $2,000 tax deduction for hybrids purchased by the end of 2005! How much each hybrid car gets varies by a complicated IRS formula but you can find out how much exactly from their website www.irs.gov, use their search engine and type ‘hybrid vehicle credits'.
It doesn't end there. Progressive states have their own additional incentives to buy green cars.
Massachusetts Governor Mitt Romney is supporting a bill that calls for a $2,000 state tax deduction, a sales tax and excise tax rebate, and unrestricted use of the carpool lanes by hybrid drivers.
Pennsylvania governor Rendell has earmarked $3 million in the state budget for the popular hybrid vehicle rebate program after a successful and popular first year program. Colorado is offering up to $3800 tax credits.
In California you even get free parking in some locations !
With the federal and state incentives offered the case of hybrid cars being too pricey is now over.
Congratulations to all the states that took the initiative and offered additional financial incentives, lets give them some credit where credit is due. As to those states without, good luck in the next election, you'll need it.
Paul Fezziwig writes for and administers 'Green Cars Now', http://www.greencarsnow.com , a website devoted to promoting fuel efficient vehicles and driving habits.
Automotive Guide Tag : Federal And State
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