If you've been thinking about buying a new scooter or motorcycle, or have been pondering a first-time purchase, now's the time to buy, thanks to the economic stimulus plan.
The scooter and motorcycle sectors saw a boom in interest and sales when the cost of fuel rose the last few years, but suddenly they've hit the wall, and the interested don't seem so much anymore.
According to a recent Associated Press report, "the same provision that lets taxpayers deduct sales and excise taxes on the purchase of a new car or truck also applies to a motorcycle or scooter. They also can get a 10 percent federal tax credit if they buy plug-in bikes."
Going electric seems better than ever with that option.
If you live and work in California, you are even luckier. That western state offered grants to encourage trade-ins and sales of two-wheeled electric vehicles, since they are better for the air than a traditional car. And $5 million more in grants has been approved by the state to encourage purchases.
One of the biggest bains to an increase in sales is, of course, the credit market, which is rough right now. Face it, people can't get loans for cars, and with scooters being a lot more expensive than a bicycle, they are just as hard to get loans for. Though one person in the AP story noted they are cheap enough to charge on your credit card. And with the long-term gas savings, it really might be worth it. Especially since you don't usually have to pay for parking, you can always put it on the sidewalk in most cities.
But if you've already gotten yourself a scooter this year, don't forget, you might be able to get deductions off your taxes.
And if you're interested in going on two wheels, but don't have a lot of experience, then check out Consumer Reports Auto blog, where for the first time they've tested out scooters and motorcycles that might be just right for the novice.
