Hybrid Car Ownership Tax Benefits
- Author Joey Maxin
- Published February 15, 2011
- Word count 375
The technology of hybrid cars lets owners to save as much as 30 miles a gallon on fuel. The most obvious upside to the hybrid cars is the fact that a driver stops the car or when it is running on idle mode, the car with a hybrid engine switches from combustion to electric energy immediately. The car doesn't stop running, a hybrid just runs on less expensive electricity which it has stored in the electric portion of the engine. This means it can enable the owner to save so much on fuel.
Another great reason why hybrid cars are so popular is that it emits much lower levels of toxic emissions. This means that hybrid cars are far better for the planet.
Since hybrids offer reduced emissions and better fuel economy, our government is sweetening the deal to promote more ownership. In 2005, During the Bush Administration, the President signed a bill that gives serious tax relief to hybrid car buyers. However, the type of tax incentive is based directly on how much fuel economy the car provides. The tax break for owning a hybrid car also varies based on the amount of gasoline the hybrid will conserve over its lifetime in comparison to a similar car with a combustion engine. The more it saves on fuel in these two areas, the bigger your tax incentive for owning a hybrid.
Without a doubt hybrids are costly. Still, the savings a hybrid could give you are far reaching. Take a moment to figure out all of the foreseeable expenses for your hybrid and look at it in relation to the cost of a regular car over a similar time span, and you will most likely find out that by owning a hybrid you can save more money on fuel and possibly pay the difference between the two with that savings. Add to that the tax break so you can see that buying a hybrid car is worth considering.
Not only will owning a hybrid help you to play a bigger role in helping to save the environment and save a lot of money on precious, expensive and limited supply of fuel, but you will also save a lot of money on tax rebates for hybrid car buyers.
Now, you should also read up on the various Disadvantages Of Hybrid Cars.
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