Buying a hybrid car gives the phrase go green a whole new meaning. Not only is it good for the environment, its also good for your pocket book. Check out the tax benefits of hybrid vehicles for yourself.
The government has decided that encouraging drivers to do their part to protect the environment could be better enhanced by offering tax incentives. So 2006 sees a variety of incentives from tax credits to tax deductions.
But before you get too excited, be sure you understand all the regulations. It is a bit complex and not all vehicles that call themselves hybrids actually qualify for the hybrid tax relief programs.
The full on hybrid vehicle uses both a gas engine and an electric engine. The Toyota Prius is an example of a full on hybrid. However some of the other models that call themselves hybrids arent classified as such by the government. Thats because some vehicles that do no more than shut the engine off at idle wear the hybrid designation.
The full tax credit is applicable to only the first 60,000 cars sold by the car maker. After that, the amount of the credit goes down. So if you want to be able to take the full tax credit you need to be...
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