Buy Hybrids Now, Experts Say
March 16, 2007: CNN Money—Good Time to Buy A Hybrid Vehicle
Hybrids keep rolling out of their factories, and buyers no longer spend months on a waiting list. That’s good news for potential hybrid owners.
Summary: If you haven’t noticed gas prices rising precipitously over the last couple months, you probably already have one. If you don’t, within the next few weeks might be a good time to get one.
"Toyota is now offering rebates and discounts to make up for lost tax credits.
"In some cases, the rebates and discounts amount to more than than the tax credits would have been worth….On average, a Prius purchased this month cost about $3,300 less than one purchased at the end of last year, according to Edmunds.com.
"Prices for other hybrid vehicles are falling as well, but not as fast. Tax incentives for those vehicles, like the Ford Escape and Mercury Mariner Hybrid, remain high, however."
So get off the fence, already. But if you’re counting on that tax credit to offset your purchase, be sure you will actually benefit from it. It tends to evaporate for taxpayers who have many deductions.