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A Couple Common Misconceptions About Hybrids
Capitalism is amazing because the people have the ability to control its direction. By people, of course, I mean consumers. As modern society has become environmentally conscious and gas price savvy, the hybrid vehicle has appeared.
Capitalism is amazing because the people have the ability to control its direction. By people, of course, I mean consumers. As modern society has become environmentally conscious and gas price savvy, the hybrid vehicle has appeared.
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.
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.
The funny thing about the tax benefit of purchasing a hybrid is it is a moving target. The IRS initially sets an upper limi and then has the option to lower that amount each quarter of the year after it analyzes the number of cars sold.
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.
The batteries used in hybrid vehicles give us our next area of controversy. These are not the run of the mill batteries found in your average automobile or truck. Rumor has it they don’t last long and are incredibly expensive to repair.
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?
Hybrids represent definitive progress in kicking our oil addiction. That being said, they are not the cure all to it. When deciding whether to buy a hybrid, ignore the fluff, collect the facts and then do what you think is right.