Maybe yesterday’s ideas to save on gas consumption got you thinking about buying a hybrid vehicle. If so, experts say this is the ideal time to test drive a hybrid if you are in the market.
Not only have prices dropped as supply begins to exceed demand, valuable federal tax incentives to purchase that exist now may be phased out over the summer. For example, the government currently offers a $2,600 tax credit on the purchase of a 2008 Mercury Mariner Hybrid but only on a certain number of vehicles. Also, note that state and local governments may offer tax incentives if you buy a hybrid, employers sometimes offer money back to employees that choose hybrid vehicles, and insurance discounts may apply.
In response to the phase out of tax credits for consumers, some manufacturers are offering more in the way of rebates and discounts to woo buyers. However, keep in mind that when summer comes and more folks are shopping for cards, prices are likely to stay high. The next few weeks may be your most economical opportunity to buy a hybrid.
CNN Money also offers a breakdown of the Top Ten Greenest Cars for your consideration.
