The Car and Truck Fleet and Leasing Management Magazine

Bank of America, Others Warm to Hybrid Car Rebates

June 13, 2006

NEW YORK – Bank of America Corp. will offer $3,000 rebates to thousands of employees who buy hybrid vehicles, according to Reuters. Together with tax credits, the rebates might save consumers more than $6,000 per vehicle. The bank’s program covers some 21,000 employees working in or near Los Angeles, Boston, and Charlotte, North Carolina, where Bank of America is headquartered. According to the Reuters report, Bank of America may expand the program to its 202,500 employees as early as 2007. Other companies also offer hybrid rebates. Google offers employees $5,000 rebates to buy, or $2,500 to lease, hybrids. St. Paul Travelers Inc. offers a 10 percent discount on insurance for hybrids.
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