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.

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  • Alex

    I do not understand why people still believe gas prices will decrease, that there is still shock and anger when another news report records new, “RECORD SOARING PRICES.” The price of gasoline and every other fossil fuel will continue to rise a little more each year as demand forevermore increases in the U.S. and in Asia. This is an inevitablility. If you want to reduce prices do it the old-fashioned and corruption-free way. Do not buy it. The lower demand will cause prices to fall. There is no secret to lower prices. We all learned this in high school economics. Reduce your demand through more conscious driving (new EPA tests have shown this effect), drive a smaller less-powerful car and hitch a moving trailer to it when you have to deal with furniture and shopping spree goods. Few people actually need anything more than a compact car.

  • MoishK

    Another proof that uncle sam is cheating you,if you have kids &/or a mortgage you wont get any real tax break for buying a hybrid unless U R rich

  • Eric

    This was bound to happen . . . as new and improved version of Hybrid comes out the previous generations MUST come down in price. Toyota’s commitment to go with lithium ion batteries only means that Toyota Dealers need to move their inventory of current Prius ASAP before they get stuck with Hybirds with last year’s technology. Ask yourself would you buy last year’s laptop if the new and improved version was only a slight premium more?