Stimulus Package Offers Additional Incentives to Buy Hybrids Now

[steven johnson]

I've driven a Camry Hybrid for the past 17 months and have a true gas mileage (actual gallons pumped by actual miles) of 37 MPG. It is rated at 33/34 city/highway by the EPA. I only get this mileage by a strong effort to maximize the gas mileage.

Most people are disappointed by the gas mileage hybrids get, especially in the winter and when doing only short trips. In reality I can get over 40 MPG when the temperature is above freezing and get about 33 MPG when it is below freezing.

I still love my hybrid but you have to be realistic that even with the new generation of hybrid batteries coming out this year and new rebates, they are not for everyone.

The new stimulus package that was recently signed in to law allows car buyers to take advantage of tax breaks and credits on hybrid vehicles.

The current stimulus package allows would be cars buyers to deduct state and local sales tax paid on any vehicle that was purchased new after February 17th. There are a few restrictions to qualify for this deducation. Any family must make less than $250,000 in annual income and any individual must makes less than $125,000 annually. Further, the vehicle purchased must be less than $49,500. This incentive may entice buyers, but buyers of hybrids have an even better deal.

Hybrid vehicles get additional tax credits. Hybrid vehicles are eligible for a tax credit of up to $4,000. However, there are several guidelines that limit this tax credit. Once a manufacturer exceeds 60,000 sales of an eligible vehicle, the tax credit no longer implies. The only hybrid vehicles that are excluded from the tax credit are certain hybrids from Toyota, Lexus, and Honda. A break down of some of the rebates are listed below.

2009 Chevrolet Malibu Hybrid: Credit $1,550

2009 Nissan Altim Hybrid: Credit $2,350

2009 Cadillac Escalade Hybrid: Credit $2,200

2009 Ford Escape Hybrid: Credit $3,000

Many additional hybrid vehicles qualify for the tax credit, if combined with deductions for state and local taxes, would be buyers could save up to $6,000 right now on select hybrid vehicles.

http://www.allcarselectric.com/blog/1019597_stimulus-package-offers-additional-incentives-to-buy-hybrids-now

[dsc]

1. that really isn't that phenominal

I got over 30 on trips in my focus and over 25 in it on short trips.

[RB TexLa]

2. If you don't buy a car at all don't you save like $30k to $25k instead of the $2k or so?

I think saving the $25k is still a better deal.

[smalll]

3. Yay! Another targeted tax cut for rich people!

Buy a house! Buy a hybrid! Ban plastic bags too! (Even though it's only the carbon-footprint richies out in the suburbs in their SUVs who don't need the plastics and who can drive around with umpteen hoity-toity resuable green bags in their cavernous trunks, and it's the CITY people and the POOR people (low carbon-footprint, all of us) who actually get major benefit out of the plastics.)

Let the eat arugula! And risotto! And ceviche!

Maybe all the hip richies are playing a deep game, and I'll thank them for it later -- all these "lefty" new rich are doing their level best to be way more annoying than the old rich ever were, so that someday, very soon, the rest of us will get fed up with them, and things will actually change in this county.

[PDJane]

5. I live in the city, in an apartment building.

I never walk out the door without a couple of shopping bags, and I'm not aware that it's a hardship or that it was only for the rich.

That's just ridiculous. You don't need a car to have a couple of bags on hand.

[Sarah Ibarruri]

6. Actually, not really. Most of us live in places where public xport sucks so bad....

that when the car we have gets too old and falls apart or starts costing us a fortune to keep fixing, we NEED to buy another car. It's not a choice. It's a necessity because of American sprawl.

[provis99]

4. man, that's crappy mileage for modern technology

my old '86 V6 Fiero used to get 25 mpg on the highway. Why aren't cars getting 200 mpg by now?