Green vehicle buyers no more to obtain instant cash as rebate runs out

Individuals shopping for a hybrid automobile had better act quickly if they want a tax credit. The rebate is expiring and no more immediate cash could be available for purchasing a few green cars. The tax rebate for purchasing some diesels and hybrid automobiles and trucks is expiring in 2011. Only plug in hybrid vehicles could keep a tax credit. Buying a hybrid vehicle will keep you from having to take out a payday loan to fill up the gas tank.

Expiring tax rebate for buying green vehicles

In 2005, the government rolled out a new tax credit that promised instant cash at tax time if a person purchased a hybrid automobile or certain diesel powered automobiles as part of the Energy Policy Act of 2005. The Option Motor Car Credit, for those who could or did take advantage of it, offered a great incentive to consult a loan business to finance a greener vehicle. The incentive is expiring though, states USA Today. Purchasing a hybrid car like the Toyota Prius or even the Volkswagen Jetta TDI which is a diesel model will not enable you to get a break on your income tax bill anymore starting in January 2011.

Rebates nevertheless accessible for a few things

Most rebates could be expiring soon. However, there will be a few accessible nevertheless though. Are you thinking about buying the Chevrolet Volt, Nissan Leaf or any plug-in electric car? Well lucky for you the rebates are nevertheless available. The hitch, though, is that to obtain those vehicles, an individual has to get an unsecured loan for more. The Leaf lists for $32,000 or more before any immediate money off the tax bill, and the Volt goes for about $40,000 before the rebate. The Prius, by contrast, goes for less than $25,000, although the Prius is no longer eligible for a rebate. The rebate can no longer be available for an auto within the bill after 60,000 green autos are sold.

Jumping on possibility

Only 2 weeks are left for getting a credit on taxes by buying hybrid and diesel models. Do you need a list of automobiles still available for rebate until January 2011? Then go to either Consumer Reports or USA Today.

Info from

USA Today

content.usatoday.com/communities/driveon/post/2010/12/federal-hybrid-diesel-tax-credits-run-out-at-end-of-month/1

Consumer Reports

blogs.consumerreports.org/cars/2010/12/hybrid-and-diesel-tax-credits-will-soon-expire.html