Oklahomans can now buy the Kandi Coco, a street legal electric car, for just $865. The Kandi Coco normally costs $10,599, a much more realistic price for a street legal electric car, but thanks to some very large tax credits, the cost for a buyer is less than $1,000. Two tax credits from the federal and state governments bring the price down by $9,734, according to Autoblog. Those tax credits will expire at the end of 2009, so anyone looking to go green cheaply needs to act fast.

The Kandi Coco is classified as a low-speed vehicle, which means it comes with a limiter that keeps the car from exceeding 25 mph. Low-speed vehicles are also prohibited from traveling on any road with a speed limit of more than 35 mph. The Kandi Coco only seats two and looks a lot like a smart fortwo with a cloth top and half doors. So the Kandi Coco isn’t exactly beautiful, and it sounds like it may have been named by a person who skipped lunch that day, but priced like a scooter at $1,000, it’s hard to beat the Kandi Coco’s value.

If you’re an Oklahoman with $1,000 to spare and a garage to keep it in, it would be silly not to buy the Kandi Coco. It will almost definitely bring more joy to your life than a big screen TV or new sofa. If you live somewhere where 35mph is a common speed limit, you might be able to do some good for the world by driving the Kandi Coco and cutting down on the amount of car exhaust you pump into the air.

Picture via Autoblog.