If you demand it, companies will come up with it. This has never been more apparent than with hybrid autos, the companies answer to a consumer nation that has become more environmentally aware.
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.
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.
This lowering of tax credit amounts can be a real shock to someone that purchased a hybrid. As of the writing of this article, the famous Toyota Prius is about to lose all of its tax credit. One has to think that fact is going to hurt sales.
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.
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.
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.
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.
This lowering of tax credit amounts can be a real shock to someone that purchased a hybrid. As of the writing of this article, the famous Toyota Prius is about to lose all of its tax credit. One has to think that fact is going to hurt sales.
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.
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 gas prices in Europe compared to the U.S. for HybridCarDealerDepot.com
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