Bank of America will reimburse employees $3,000 who purchases a hybrid (gas/electric) vehicle. To qualify, the employee must live within 90 miles of Boston, Charlotte, or Los Angeles.
This is a valuable incentive for reducing commuting costs and helping the environment. If the reimbursement program is successful, the company will consider rolling it out to all employees throughout the country.
For those who only look at the financial aspects, buying a hybrid car certainly doesn’t save money in the short term. Programs like this will help convince those who want to improve air quality and reduce reliance on oil but are concerned about costs to look into the cleaner alternatives.
Updated February 6, 2012 and originally published June 7, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.