subject: Electric Car Ownership Tax Credit [print this page] The technology of hybrid cars allows consumers to drive an extra 30 miles to every gallon of fuel. Among the many benefits of the hybrid cars is the fact that the car is stopped the car idles, the car with a hybrid engine switches from combustion to electric energy immediately. However it doesn't stop here, a hybrid just runs on less expensive electricity which it has stored in the electric portion of the engine.
Therefore, it can help a driver to save so much in fuel costs.
Another great reason why hybrids are now preferred by most people is because they leave a smaller carbon footprint. Without a doubt that hybrid cars are far better for the planet.
Since owning a hybrid means you are having a reduced environmental impact and using less resources, the government is now taking all the necessary steps to promote the hybrid technology. Back in 2005, George W. Bush pushed through a law that gives serious tax relief to hybrid car buyers. However, how much of a tax break you'll receive varies by just how fuel efficient the car is. The tax break for owning a hybrid car also varies based on just how much fuel the hybrid stands to save versus a regular car over its life. The larger the amount of saved fuel when taking these two scenarios into consideration, the larger your tax incentive for owning a hybrid.
Without a doubt hybrids are costly. However, just think about the long term benefits that the hybrid car can give you. Make sure you calculate all of the foreseeable expenses for your hybrid and hold it up against what it would cost you to own a conventional car over the same amount of time, and you will see the hybrid is more affordable than you originally thought. Add the tax break to that and and it becomes easier to see how considering a hybrid car is definitely a good investment that all people should consider.
Not only will you be able contribute in producing a cleaner environment and cut down on our dependence on scarce natural resources like oil, but you will also save a lot of money on tax rebates for hybrid car buyers.
