My '06 is almost here!

mjc243 · 12-21-2005, 08:24 AM

I don't even remember how many months ago I ordered it (I guess I should have posted in Order Tracking!)... but I just got the call that my '06 Prius should be here THIS WEEK.

Now, here's the question... what about the forecasted 2006 Tax Credit? I know that it hasn't been made official yet, but should I try to hold the dealer off until Jan 1 just in case? Think they'll hold it or drop to the next guy on the list? Is it worth the risk for a chance at an extra $2500 in tax savings?

GreenMachine · 12-21-2005, 08:45 AM

Quote:

Originally posted by mjc243@Dec 21 2005, 08:24 AM
I don't even remember how many months ago I ordered it (I guess I should have posted in Order Tracking!)... but I just got the call that my '06 Prius should be here THIS WEEK. Now, here's the question... what about the forecasted 2006 Tax Credit? I know that it hasn't been made official yet, but should I try to hold the dealer off until Jan 1 just in case? Think they'll hold it or drop to the next guy on the list? Is it worth the risk for a chance at an extra $2500 in tax savings?

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Many dealers are doing so.

I would call them and make sure they know you want to wait. I would be surprised if they don't hold it for you.

kente777 · 12-21-2005, 09:28 AM

Quote:

Originally posted by mjc243@Dec 21 2005, 08:24 AM
what about the forecasted 2006 Tax Credit? I know that it hasn't been made official yet, but should I try to hold the dealer off until Jan 1 just in case? Think they'll hold it or drop to the next guy on the list? Is it worth the risk for a chance at an extra $2500 in tax savings?

[snapback]176755[/snapback]

There is nothing "forcasted" about the tax credit. Bush signed it into law so it is a definite. Wait until January.

Ken

jeffn · 12-21-2005, 09:34 AM

Quote:

Originally posted by kente777@Dec 21 2005, 09:28 AM
There is nothing "forcasted" about the tax credit. Bush signed it into law so it is a definite. Wait until January.

Ken

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Can the car be paid in full in 05 and delivered in06 and it qualify? I'd like to pay all but $100. and pick up in 06 just to be safe.

kente777 · 12-21-2005, 10:23 AM

Quote:

Originally posted by jeffn@Dec 21 2005, 09:34 AM
Can the car be paid in full in 05 and delivered in06 and it qualify? I'd like to pay all but $100. and pick up in 06 just to be safe.

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The paperwork must be dated January 1st or later. Ask your dealer what you can do to make this work. Being it's this close to January, there shouldn't be a lot of problem with them working with you.

Ken

Kiloran · 12-21-2005, 10:35 AM

Quote:

Originally posted by kente777@Dec 21 2005, 11:23 AM
The paperwork must be dated January 1st or later. Ask your dealer what you can do to make this work. Being it's this close to January, there shouldn't be a lot of problem with them working with you.

Ken

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The most important thing is not to take possession of any part of the car until January 1, 2006. (and no "test drives" after paying for it)

Please review Tax Credit - Toyota's Official Position.

Kiloran · 12-21-2005, 10:37 AM

Quote:

Originally posted by Kiloran@Dec 21 2005, 11:35 AM
Please review Tax Credit - Toyota's Official Position.

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Actually, print it out and make sure your dealer is aware of it (in writing) or send him an email with the link.

kente777 · 12-21-2005, 10:40 AM

Quote:

Originally posted by Kiloran@Dec 21 2005, 10:35 AM
The most important thing is not to take possession of any part of the car until January 1, 2006. (and no "test drives" after paying for it)

Please review Tax Credit - Toyota's Official Position.

[snapback]176808[/snapback]

Taking possession of the car and the dated paperwork are one and the same thing. The energy bill is not written in that exact language, but it is implied. Try proving to the IRS that you took possession of the car on January 2nd with the paperwork dated December 31.

Ken

Kiloran · 12-21-2005, 11:25 AM

Quote:

Originally posted by kente777@Dec 21 2005, 11:40 AM
Taking possession of the car and the dated paperwork are one and the same thing. The energy bill is not written in that exact language, but it is implied. Try proving to the IRS that you took possession of the car on January 2nd with the paperwork dated December 31.

Ken

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If the paperwork states that you took possession of the car on January 01, 2006, you are probably ok.

Please review my post in a related thread:
'06 Credit Available even if you take it in '05?.
(Hell, review the whole thread while you're there.

)

Clearly, the safest thing you can do is to do the paperwork and delivery after December 31, 2005. (That's what I'm doing.)
However, if you believe your dealer's tactic of threatening to sell your car to someone else, this should be a relatively safe option.

mjc243 · 12-21-2005, 06:41 PM

If this is already official and signed into law, why aren't there any official web sites about it? The only thing I could find from the IRS indicates that it will be $500 in 2006: http://www.irs.gov/newsroom/article/...104549,00.html

I understand that a lot of sources are saying that this SHOULD happen, but I haven't seen the government say that it will.

I agree that it's very likely to happen, from what I've read... it's just unusual for it not to be officially documented when we're only 9 days from 2006! Either way, it's definately worth betting a $500 tax deduction for a good chance at a $3000 tax credit.

12-21-2005, 08:24 AM	#1
mjc243 Join Date: Dec 2005 Posts: 4 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	I don't even remember how many months ago I ordered it (I guess I should have posted in Order Tracking!)... but I just got the call that my '06 Prius should be here THIS WEEK. Now, here's the question... what about the forecasted 2006 Tax Credit? I know that it hasn't been made official yet, but should I try to hold the dealer off until Jan 1 just in case? Think they'll hold it or drop to the next guy on the list? Is it worth the risk for a chance at an extra $2500 in tax savings?

12-21-2005, 06:41 PM	#10
mjc243 Join Date: Dec 2005 Posts: 4 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	If this is already official and signed into law, why aren't there any official web sites about it? The only thing I could find from the IRS indicates that it will be $500 in 2006: http://www.irs.gov/newsroom/article/...104549,00.html I understand that a lot of sources are saying that this SHOULD happen, but I haven't seen the government say that it will. I agree that it's very likely to happen, from what I've read... it's just unusual for it not to be officially documented when we're only 9 days from 2006! Either way, it's definately worth betting a $500 tax deduction for a good chance at a $3000 tax credit.