Thinking about buying a hybrid?
You might want to take the plunge soon, since those government tax credits are going to expire pretty soon.
The credits expire after an automaker sells 60,000 vehicles; the credit will then be phased out over the next few months. Toyota's Prius reached 60,000 sold last summer, but if you buy before October 1, you still get a partial credit: $787.50. But after that, you won't be able to get credit for any Toyota model, including the #2 bestselling hybrid, the Camry.
Interested in low MPG vehicles? You could always invest in a 50-MPG… plane?
The Honda Civic hybrid will probably hit the 60,000 mark in the next couple of months. Once that happens, you can still get your $2,100 credit through the end of 2007. After that, it'll incrementally fall ($1,100 until July 2008; $550 until December 2008; then nothing).
Of course, you can bet that other hybrids will be coming out in the next couple of years, and they won't hit 60,000 for quite a while–Nissan's Altima hybrid, anyone?
Government tax credits on all hybrids will expire in 2010.
