Progressive Wednesday

Could you buy a hybrid?

March 9th, 2007 by Eric

Here at Progressive Wednesday our goal is to provide information to make it easier for you to do the little things that make the world a better place, to point out how a small social contribution can make a big difference in someone’s life. We concentrate on things that require a reasonable sacrifice so as to encourage the masses to take action. Most are willing to do those things. Many are willing to do bigger.

This past Wednesday you learned about some ways that you could fight global warming by reducing your home energy use. It’s easy and convenient to replace your light bulbs with compact fluorescents and a huge progressive step to switch to renewable energy. But what if you’re in the market for a new vehicle? Many people think that a hybrid car is out of their price range or not available in the style that they want. We would hate for someone to not consider a hybrid due to common misconceptions. We’re here to help correct that.

One of these misconceptions is the initial cost of the car. According to edmunds.com:

Hybrid cars cost an average of $2,500 to $3,000 more than comparably equipped gasoline vehicles.

But the 2005 Energy Policy Act seriously upped the ante for hybrid car tax incentives from previous tax law. The new law:

(bumps) the tax incentives for buyers of hybrids from a $2,000 deduction up to a potential maximum credit of $3,400.

You don’t have to win a Fields Medal to figure out that this incentive at least seriously cuts into the cost, and in many cases will actually save you money come April 15. Factor in the fuel savings and, well, you do the math.

Another common misconception is that there are only a small number of vehicles and styles available. While that was a legitimate concern 5 years ago, the variety and number has increased dramatically in the past few years. According to soultek.com Toyota plans to double their production of the ultra-efficient Prius to over 100,000 cars in the US this year. With other companies are following suit, the wait for one of these cars is short, and in some cases gone.

The variety of hybrid vehicles has increased just as quickly. With just three models available in 2004, the field has now grown to twelve, with several more models ready to hit the market this year. With Ford, GM, Nissan, Chevy, and Saturn adding their hybrid SUV’s and pickup trucks into the mix of compact cars by Honda and Toyota, there is a hybrid for every man, woman and chi… well, every man and woman in the country. So next time you visit your local dealer ask about a hybrid. You may find it’s more within your grasp than you thought.

Thanks to this environmentally responsible picture taker