Hybrids consume little gasoline, pollute less and make you feel generally good when you're driving them. Hybrid car owners who buy a qualified plug-in conversion kit for their vehicle become eligible for a 10% credit. Hybrid cars may be good for protecting the environment, but are they friendly with the consumer's budget as well.
Tax
Tax Credits Tax credits are one of the most common and popular types of hybrid car incentives. The vehicle must be acquired for use or lease by the taxpayer claiming the credit. It exempts owners of hybrids and other alternative fuel vehicles (that get 40 mpg or higher) from excise tax and reduces vehicle registration charges.
Incentives
New tax federal and state credits for hybrid car owners, combined with other benefits such as unlimited access to HOV lanes and free tolls in some states, are strong incentives for many people to make the switch to hybrid cars. Employer Incentives and Perks - A growing number of employers are encouraging their workers to commute in hybrid vehicles. An example is $5,000 for purchasing or leasing a hybrid. California is the leader in hybrid incentives, which is not surprising since they are also leaders in most environmental issues. Many companies, such as Google, Hyperion, Bank of America, and Fairmont Hotel offer incentives to their employees and consumers to buy and use hybrid cars. The Bay area mayors are expected to use their authority to push through permits needed to create the charging stations, and also regulations that promote and offer incentives, such as tax breaks for those who install charge stations at workplaces, or who use the cars.
Insurance
Insurance discount for hybrids: Los Angeles-based Farmers Insurance Group of Companies is offering a 10 percent discount on auto insurance to customers who own a hybrid-electric or alternative fuel vehicle. Electric cars are exempt from most insurance surcharges. The one great thing about owning a Hybrid vehicle is that you will almost always be entitled to all the same car insurance discounts as "regular" car owners but some car insurance companies provide additional incentives only to hybrid owners.
Cost
Currently, new hybrids are hovering in the $20,000 to $30,000 range, and although they're typically more expensive than their gas-guzzling counterparts, the benefits in the long run appear to offset any initial costs, even when you account for insurance and repairs While the Consumer Reports study showed that only some hybrids would result in a savings for the buyer based on total cost of ownership, another study conducted by market researcher IntelliChoice, reported that all of the current hybrids on the market will help owners save money. Some of the best new hybrid autos include warranties that last as long as 8 years, which can come in handy since a replacement battery is reported to cost an estimated $3,000.
Parking
Hybrid Car owners who have purchased their hybrids from San Jose dealers are exempt from local parking fees. San Jose Free Hybrid Parking: Free parking at participating municipal off-street parking facilities, on-street meters and San Jose regional park and recreation parking lots. San Jose offers free parking at downtown San Jose public parking facilities. In California, hybrid car owners are allowed to use the carpool lanes and are exempt from parking fees in certain parts of the state. Hybrid cars are becoming more and more popular as people eventually realize the importance of leading sustainable lifestyles.
