May 19 2010
Hybrid cars Tax System

Have you ever thought of the amount of tax you pay for owning a car? Want to know a one stop solution for it? Then think hybrid and you can save a lot of money. With countries stressing on pollution free environment and green cars, many governments In the World are making people own environmental friendly Hybrid cars.

If you are a recent owner of a hybrid car, then you are the happy man as you are eligible for the Hybrid Car tax credits. Hybrid car tax was first included in the year 2005 through the Energy Act. The Hybrid car tax credits are just acts as a catalyst for the peoples buying behaviour towards Hybrid cars. The credit system gives a tax exemption of $3150 to the first 60,000 automobiles sold from the given manufacturer. Every year the US government revises the tax credit amount.

The tax credit amount for each manufacturer is put for the benefit of people. For instance the 2010 BMW Active Hybrid X6 comes with a credit of $1550 where as the Ford Fusion Hybrid comes with the credit of $3400. A note is also added stating if the car is purchased before 04-01-09 then the buyer is eligible for a full amount credit which is amazing. So it’s the right time to get one Hybrid Car. Isn’t it?

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