| Hybrids - Myths and Facts |
| Written by Jon Buttress | |
| Saturday, 19 July 2008 | |
|
Capitalism is all about giving the people what they want. Well, selling the people what they want may be a better way of stating it. This is basic notion is the very reason we have hybrid vehicles today.
Capitalism is all about giving the people what they want. Well, selling the people what they want may be a better way of stating it. This is basic notion is the very reason we have hybrid vehicles today. While hybrids have certainly become a popular alternative to big gas guzzlers, there are some definite assumptions that simply are not true. The assumptions are both positive and negative, so let's take a closer look at two of the big ones. 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. 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. Why does the tax credit phase out for hybrids? Well, you have to realize why it was put into law in the first place. It was intended to motivate people to buy such vehicles in light of our oil and environmental problems. It was not intended to be a windfall for manufacturers. 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 great hybrid conspiracy is truly funny once you look at a key fact. Each new hybrid comes with a battery warranty between 80,000 and 100,000 miles. This would suggest that they last a long time, no? 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. The Article Author: Jon Buttress writes about issues surrounding buying a vehicle from hybrid car dealers for HybridCarDealerDepot.com |
| < Prev | Next > |
|---|
