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.

The day you knew hybrids were here to stay was the day car companies started announcing hybrid SUVs. Imagine, all the size and little of the guilt. That being said, there are some misconceptions about hybrids, so lets address the big two.


Buy any old hybrid and you will get a major tax credit. This is the first myth that arises around the hybrid. Can you get a tax credit? Yes, but you must comply with certain requirments issues by none other than the Internal Revenue Service.

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.

This lowering of tax credit amounts can be a real shock to someone that purchased a hybrid. As of the writing of this article, the famous Toyota Prius is about to lose all of its tax credit. One has to think that fact is going to hurt sales.

Why does the tax credit phase out for hybrids? Well, you have to realize why it was put into law in the first place. It was intended to motivate people to buy such vehicles in light of our oil and environmental problems. It was not intended to be a windfall for manufacturers.

Batteries. Who would have thought we would discuss them in this article, but a myth exists regarding their use in hybrids. The myth is they don't last very long. This is suggested to be a big negative because replacement costs are high.

The truth will set you free! In the case of hybrids, this is particularly true. The simple facts are the batteries last for well over a hundred thousand miles. Most car companies even give you a warranty for this mileage.

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.

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