Like many of us in this tight economy, the things that we would like to hold onto seem to be the first purse strings cut. As many local state governments start pinching for pennies, many tax rebates for hybrid cars, electric cars, and other alternative fuel new cars for sale are starting to feel the pinch as auto incentive programs come up for renewal.
Local car dealerships have for quite a while now been able to offer the lure of additional state and federal auto incentives to potential buyers wrestling to meet their love of the environment with the enormous sticker shock that often goes along with these new technologies. For many dealerships this may soon not be the case which is bad news for customers.
Tax Rebates for Hybrid Cars in Doubt
Connecticut, New Mexico, and the state of Washington have all canceled already their tax exemption status for many hybrids and alternative fuel vehicles, with other stats pondering if they should follow. South Carolina let its tax credit for plug in new cars for sale expire and many other state run credit programs are also expected to be retired rather than renewed. Leaving buyers to pay the full Prius V invoice price or the full $32,780 dealer price for a Nissan Leaf.
And while there are several hybrid cars under 20000, two already from Honda and one potentially in the works from Toyota, it will mean a serious blow for anyone interested in purchasing current alternative fuel vehicles. The high prices of electric cars such as the Nissan Leaf, or the upcoming Ford Focus electric will likely deter many from local car dealerships without such state assistance.
Can I still get Hybrid Cars Tax Credits?
Car buyers hoping to pay below invoice price on these new hybrids such as the Prius V, or electrics such as the Ford Focus should move quickly to find out if such programs are still operating in their area and when they might expire. It's likely that more states will follow suit as a means of generating more revenue or at least not appear to be giving away money in a troubled economy.
The clock is ticking or may already be up for you to cash in on these deals before your desires for a greener car force you to seek cheaper alternatives, such as hybrid cars under 20000. Which while greener, are not HOV lane useable in many states, and not quite as green as their electric and more expensive hybrid cousins. If you intended to take advantage of either, you should start doing your homework sooner rather than later.