Capitalism is amazing because the people have the ability to control its direction. By people, of course, I mean consumers. As modern society has become environmentally conscious and gas price savvy, the hybrid vehicle has appeared.
The day you knew hybrids were here to stay was the day car companies started announcing hybrid SUVs. Imagine, all the size and little of the guilt. That being said, there are some misconceptions about hybrids, so lets address the big two.
Everyone hates taxes, but not when it comes to hybrids. The common myth is you can get a huge tax benefit if you buy a hybrid. As with anything involving taxes, you should know this is sometimes true and sometimes not.
If you want to claim a tax credit for buying a hybrid, you have to comply with a few regulations. First, you have to purchase a brand new hybrid. Second, the IRS must have ceritifed the car. Third, you can only claim the amount then available.
The funny thing about the tax benefit of purchasing a hybrid is it is a moving target. The IRS initially sets an upper limi and then has the option to lower that amount each quarter of the year after it analyzes the number of cars sold.
The hybrid tax credit was designed to get people interested in hybrids. Given this fact, it should be no surprise the credit is phased out after a certain number of vehiles are sold. The beloved Prius, in fact, is about to lose its credit.
Many people are outraged by the phasing out of the tax credit available for hybrids, particularly the manufacturers. Talk about a selling point! The credit, however, was never meant to support an industry, only generate interest in it.
A second area of misunderstanding with the hybrid vehicle has to do with the batteries. Obviously, the car requires special batteries. There is a myth that they have to be replaced every 40,000 miles. This is alleged to be a big problem because they are expensive.
The truth will set you free! In the case of hybrids, this is particularly true. The simple facts are the batteries last for well over a hundred thousand miles. Most car companies even give you a warranty for this mileage.
Hybrids represent definitive progress in kicking our oil addiction. That being said, they are not the cure all to it. When deciding whether to buy a hybrid, ignore the fluff, collect the facts and then do what you think is right.
Get hybrid car information at HybridCarDealerDepot.com This article is available as a unique content article with free reprint rights.
|
