2007 Model Eligible for Tax Credit?

tbullock · 07-31-2006, 04:57 PM

I'm considering a Prius, and am wondering:
1) If I pre-order a 2007 prius before Sept 30 could it be eligible for the full tax credit if it's not delivered until after the Sept 30 cutoff?
2) Will the IRS approve the 2007 model for the tax credit?

Thanks!

Betelgeuse · 07-31-2006, 05:00 PM

<div class='quotetop'>QUOTE(tbullock @ Jul 31 2006, 04:57 PM) [snapback]295317[/snapback]</div>

Quote:

I'm considering a Prius, and am wondering:
1) If I pre-order a 2007 prius before Sept 30 could it be eligible for the full tax credit if it's not delivered until after the Sept 30 cutoff?
[/b]

No. You must take delivery by the relevant deadlines.

<div class='quotetop'>QUOTE(tbullock @ Jul 31 2006, 04:57 PM) [snapback]295317[/snapback]</div>

Quote:

2) Will the IRS approve the 2007 model for the tax credit?

Thanks!
[/b]

AFAIK, no one knows for sure, but I think it's safe to assume that the answer will probably be "yes."

glenhead · 07-31-2006, 05:04 PM

1) No. You have to take delivery before the end of the third quarter.

2) Yes. The credit isn't tied to a model year, it's tied to "new". You'll get at least a partial credit for the next six (nine? twelve?) months starting 1 Oct. I don't remember if the 50% credit goes on for one or two quarters, of if the 25% goes on for one or two quarters after that, before the whole thing goes away.

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07-31-2006, 04:57 PM	#1
tbullock Join Date: Jul 2006 Posts: 6 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	I'm considering a Prius, and am wondering: 1) If I pre-order a 2007 prius before Sept 30 could it be eligible for the full tax credit if it's not delivered until after the Sept 30 cutoff? 2) Will the IRS approve the 2007 model for the tax credit? Thanks!

07-31-2006, 05:04 PM	#3
glenhead Join Date: Jun 2006 Posts: 166 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	1) No. You have to take delivery before the end of the third quarter. 2) Yes. The credit isn't tied to a model year, it's tied to "new". You'll get at least a partial credit for the next six (nine? twelve?) months starting 1 Oct. I don't remember if the 50% credit goes on for one or two quarters, of if the 25% goes on for one or two quarters after that, before the whole thing goes away.