Two Incorrect Myths Regarding 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.
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.
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.
If you want to claim a tax credit for buying a hybrid, you have to comply with a few regulations. First, you have to purchase a brand new hybrid. Second, the IRS must have ceritifed the car. Third, you can only claim the amount then available.
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.
In truth, there is no requirement that hybrid batteries be changed every 40,000 miles or so. Most brands come with warranties of up to 100,000 miles. Although hybrids are fairly new, the batteries are reported to last well into the hundreds of thousands of miles.
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.
