Incentives

People might say that the running cost of an electric car is less but the fact is that to own one you require a good amount of money because it’s really costly. In order to promote electric cars governments of various nations have started giving tax credit upto $5000 which is a big amount. The credit can however vary according to the amount of energy the battery can store and can be different in different countries.

The main push behind these incentives are the electric car manufacturers. It is these manufacturers who want the governments and local bodies to provide incentives so that people are attracted towards an electric car. Thus in a way we can say that both the consumers and manufacturers are benefited from these incentives. Some of you might say that why do we require these incentives? It is because electric cars are a new discovery people hesitate to buy them. Providing incentives will push them in buying these cars and then slowly by the space of time people will get used to them. Along with the tax credit the government also plants to open various recharge points on streets and highways for people to recharge their electric car thereby enabling them to use it for long distance travel as well.

There are certain things which you should keep in mind before buying an electric car. Firstly the tax credits can only be availed on new electric cars and not on old ones. Another stipulation says that “You cannot re sell the car and claim the tax credit”. Also keep a watch on the price of the car because certain companies like Nissan advertise their product with a selling cost after tax credit which means that the actual cost of the car is more than the advertised one. But anyways getting a tax credit is similar to a discount and a good deal to crack.