Feb. 2, 2007: The Sun-Sentinel—Buy a New Hybrid Car, Receive $3000 Reward

Your boss will give you $3000 to buy this brand-new Ford Escape Hybrid, if you work for Bank of America.

Summary: In an effort to do its part to improve air quality nationwide, Bank of America has extended its hybrid-buyer reward program to include 181,000 employees nationwide.

"Bank of America introduced the program last June in three pilot cities: Boston, Charlotte, N.C., and Los Angeles. Hybrid purchases by employees have quadrupled since then, said Bank of America spokesman Ernesto Anguilla.

"The rebate is part of the bank’s overall environmental campaign, which includes reducing energy and paper consumption and building what it calls the ‘most environmentally sound skyscraper’ at One Bryant Park in New York City.

"To qualify for the rebate, employees must purchase one of the 44 hybrid models eligible for the federal Alternative Motor Vehicle Credit from the IRS."

Speaking of the IRS: the $3000 is taxable, of course, but at least some employees will qualify to reduce the burden through that hybrid tax credit.


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