Buy Hybrid and Get a Tax Break? Maybe not any more…
Suggested reading: Green Living Series
by Neva J. Howell unless otherwise noted
The Hybrid Car Tax Deduction Incentive:
At time of this posting, there were some nice tax deduction incentives for citizens of the United States who purchased a hybrid car. Most of those incentives were phased out by 2011 but there may still be states that offer them. This was the list as of around 2008: tax breaks for hybrid car buyers which may also available.
Some cities, such as Santa Monica and Los Angeles in California once offered green incentives that included free parking areas for low emissions vehicles but that appears to have gone away now. Los Angeles did reconsider free parking for hybrids back in 2013 but I can find nothing to say whether or not they ever reinstated it.
By 2016, there were 4 million hybrid cars on the road in the United States.
Back in 2008 when I originally posted this, according to an online survey conducted by a research center, ninety percent of the respondents surveyed indicated a willingness to buy hybrid cars the next time they need one. Provided, however, that these cars are comparable in look with they currently owned. In this marketing study, about 46 percent of male respondents and 36 percent of female respondents strongly believed that these hybrid vehicles will perform comparably to all-gasoline vehicles. For these respondents, this is the most important factor.
The concern for model, style, and features in these hybrid version is important for female respondents (49 percent), and 35 percent important for male respondents. Only a handful of respondents, about 10 percent of those surveyed said they would buy hybrid cars with different style, while only 16 percent are willing to compromise on performance features, like horsepower and acceleration.
For price, however, the respondents are willing to compromise. When they’re asked what they would be most willing to sacrifice for more efficient fuel usage for the environment, a common characteristics of hybrids, 45 percent of the respondents indicated the willingness to pay $1,000 to $2,000 or higher for their new hybrid vehicles.
More on hybrids: