Electric Car Rebates Running Low

There might not be enough money to go around.

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    NEWSLETTERS

    ASSOCIATED PRESS
    The 2011 Nissan Leaf qualifies for a $5,000 rebate.

    In California, buying an electric car or zero-emissions vehicle means you may also qualify for a $5,000 rebate.

    It's a major incentive in the state's push to go green, but there might not be enough money to go around, the Los Angeles Times reports.

    The state Air Resources Board has $8 million dollars for the program, which is enough for 1,600 car buyers.

    But Jay Friedland, legislative director of Plug In America, doesn't think that will be enough.

    "There's likely to be more than that sold before July," he told the Times. "We believe the rebates will run out."

    And once they run out, there's no guarantee there will be any more for the future.

    So have a closer look at the facts before buying that new electric car. And remember that just because car companies advertise rebates and tax breaks, it doesn't mean you will get them.