Very few industries have progressed as far as fast as the automotive industry. As vehicles enter their second century of production, it seems pretty clear that future technology will be moving away from fossil fuels toward electrically powered platforms. The State of Connecticut wants to make sure that its residents are in a position to not only take advantage of this technology but also help protect the environment by introducing financial incentives for hybrid vehicle owners in New London, CT. The heavy lifting of this effort will be done by the Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) program.
The CHEAPR program provides very attractive incentives for car buyers to invest in more environmentally-friendly models that fall under electric vehicles, fuel cell (hydrogen) vehicles and plug-in hybrid electric vehicles. If you would like to learn more about the CHEAPR program, make an appointment with a Mercedes-Benz of New London product expert today by calling, 833-572-5052.
In order for someone to take advantage of everything the CHEAPER program has to offer, a $6,462 rebate, they need to buy or lease a new vehicle from a franchised dealership, like Mercedes-Benz of New London. The manufacturer’s suggested retail price for a plug-in hybrid or battery electric vehicle cannot exceed $42,000 and a fuel cell electric vehicle’s price can go higher than $60,000.
This is a very interesting program that can provide some excellent incentives for people to invest in green technology. However, there are a few important pieces of information that need to be shared.
• Individual buyers can only use the CHEAPR program for one vehicle purchase.
• Businesses and non-profit organizations can use CHEAPR for up to two vehicle purchases.
• The rebate could be considered taxable income by state and federal tax authorities. Consult a licensed tax expert to see how this will affect you.