Last week Wheego Electric Cars announced their trade-up program that will allow customers to trade up their Wheego Whip LSV for Wheego’s Full Speed Vehicle (FSV) that is expected to launch in 2010.

Anytime within 24 months of their purchase of the Wheego LSV, a customer may trade up their Wheego LSV for a full speed Wheego (when available) and receive a trade-up credit of 50% of the original purchase price of their LSV toward the purchase of a full speed Wheego.

Any Federal or State tax credits that the customer received on their purchase of the LSV or on a new full speed car are theirs to keep and are not deducted from the trade-up value.

If the company can meet their price points for the FSV, the cost of the vehicle becomes quite attractive with the currently available federal tax credits.  The company provided the following trade up example.

Example (for illustration only; prices may vary):
Customer purchase price of Wheego LSV: $22,000
Fed Tax Credit: -$7,500
Net customer price for LSV: $14,500

Customer sample purchase price of Full Speed: $30,000
Wheego LSV Trade-up allowance: -$11,000
Fed Tax Credit: -$ 7,500
Net customer price for Full Speed Wheego: $11,500

As you can see in the example, a customer would end up spending more for the LSV than the FSV. The total cost to obtain the FSV in this example is $26,000, which is quite attractive for a full speed electric vehicle, and you get the use of an LSV for awhile. – Marc Cesare Learn more:  PRweb.com