Receiving up to a $5,335 tax credit for purchasing an electric vehicle in 2009 may seem hard to believe, but is possible. In effort to go green, from now till December 31, 2009, the government is offering the tax credits of up to $5,335 for qualified street legal electric vehicles. After the New Year however, the electric vehicle tax credit will lower significantly.

Although most of the low speed electric vehicles look like golf carts at first glance, they are completely different. These vehicles are street-legal on roads that have speed limits up to 35 mph, have seat belts, turn signals, windshields and wipers, can travel 40 to 50 miles on a single charge, and can go up to 25 miles per hour.

Justin Jackrel, owner and president of GatorMoto at 7065 NW 22nd St, takes pains to point out that they aren’t the same carts used on golf courses or darting across streets in gated communities. GatorMoto sells street legal golf carts and a line of low speed vehicles, named the Bubble Buddies. They range from two-passenger to eight-passenger and come in an assortment of colors. With prices starting at only $6,995 for a fully loaded vehicle, the end cost after the credits can be as low as only $2,160.

“We cannot build them as fast as the orders are coming in,” Jackrel said. “We placed large orders to make sure we have enough in time for the holidays, but the last few weeks have been crazy around here. Our current inventory is low and most of the vehicles on the future build schedule are already pre ordered!”

There is no better time than now to purchase an electric vehicle, and with gas prices on the rise, you are sure to love the fact that they only take one cent of electricity to go one mile.