Hybrid tax credits may not be what you think
If you were looking to get that big tax break for buying a hybrid car you might want to get out and purchase one ASAP. Most purchasers don't realize that the full tax credit only applies to the first 60,000 eligible vehicles that a manufacture sells between now and the end of 2010. After 60,000 hybrid models have been sold the tax credit will begin to phase out.
Toyota is expecting to sell 60,000 hybrids by the first half of the year. So don't wait to buy your new Prius if you want all your tax credit. All told, 212,000 hybrids were sold in the United States last year, accounting for 1.3 percent of cars and light trucks, according to J.D. Power and Associates.
