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State and Federal Legislatures Push Consumers To Go Electric.

February 2, 2011

I thought I was pretty spiffy when back in 2009 I got a brand spanking new Nissan Sentra FE (that’s fuel-efficient). My car wasn’t a gas guzzler and my increased miles per gallon weren’t putting as many carbon emissions into the world. I knew about the existence of hybrid cars and electric cars but to be honest, the increased cost and my lack of knowledge were factors that kept me moving. Nissan and Chevrolet just introduced full electric cars into the market last month, the Leaf and the Volt. According to an article I read in USA Today, both state and federal legislatures are offering incentives to people who purchase these more eco-friendly vehicles. To start with there is a federal tax credit up to $7500, often making these cars within the same price range as standard cars. Seventeen states already offer rebate’s and incentives to those who go electric (boogie woogie woogie woogie…cmon you know you where thinking it too!). While New York currently isn’t one of those states, an advocacy group called Plug In America says the state legislation is currently considering offering inducements for electric vehicle drivers.

California offers a state rebate up to $5000 for EV drivers, but for those of us on the east coast New Jersey is looking pretty good on the consumer end. New Jersey allows all EV drivers to use carpool lanes even with no passengers in addition to waiving sales tax. The hope is that New York will follow suit including extra bonuses like reduced bridge and tunnels tolls and additional tax credits. Before you start taking out your fancy fountain pens, there are other hidden costs associated with electric vehicles. Mainly, charging stations. Louisiana, Hawaii and Washington provide tax credits and reduce the cost of home charging stations which can cost at least $1200. The plus side of a home charging station is convenience , plug and go. If that extra cost isn’t feasible, make sure you are familiar with the locations of your local charging stations. Aside from the green factor, electric vehicle purchase incentives will hopefully persuade consumers to open their wallets and help boost the economy.

Thinking of trading in your hybrid or standard sedan for an electric car? Not sure about the cost and how the tax incentives will apply to you? Here at GAI (www.gunwel.com) we are here to help figure it all out. We can provide you with all the answers you need and make sure you get the most out of your electric investment. So stop by or give us a call at 212-979-6830!! See you soon!!

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