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A Couple Common Misconceptions About Hybrids

by: JonButtress
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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.

Any type of trend soon grows attributes that are often not exactly accurate. These can be both positive and negative attributes, depending on who is pushing the point. Two false ones have surrounded the hybrid vehicle.

Buy any old hybrid and you will get a major tax credit. This is the first myth that arises around the hybrid. Can you get a tax credit? Yes, but you must comply with certain requirments issues by none other than the Internal Revenue Service.

When taxes are invovled, it should be no surprise there are pitfalls with claiming a tax credit for buying one. The first requirement is you must buy a new vehicle, not a used one. The second requirement is the IRS must have approved the vehicle.

Many people want to know the amount of the hybrid tax credit, but it is an impossible question to answer. The IRS sets a different amount for each and every car. It then has the option of reducing this amount each quarter of the year.

The interesting and scary thing about the tax credit is it is designed to disappear for each car after a certain number have been sold. For instance, Toyota hybrids are about to lose their tax benefits entirely. Yes, there will be zero tax benefit.

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.

Batteries. Who would have thought we would discuss them in this article, but a myth exists regarding their use in hybrids. The myth is they don't last very long. This is suggested to be a big negative because replacement costs are high.

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.

Is a hybrid for you? Maybe it is and maybe it is not. The important thing is to ignore the myths, get the facts and then make a decision you can live with happily.

About the Author

Jon Buttress writes about the hybrid tax advantage for HybridCarDealerDepot.com

A Couple Common Misconceptions About Hybrids

About the Author

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