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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. The first myth is that you will get a major tax break if you buy a hybrid vehicle. This is generally true, but not absolutely. Just to make you groan, you should know the agency that controls the issue. Yes, the IRS. So, when can you get a tax credit? 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. Most people do not realize the tax credit you get for buying a hybrid is actually a moving scale. It is initially set by the IRS at an amount up to $4,000. Each quarter thereafter, the IRS reviews the sales figures and may or may not lower the tax credit. 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. 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 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.
Article Source: http://www.rightarticle.com
Aazdak Alissimmo writes about tax incentives for hybrid cars at HybridCarDealerDepot.com
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