can I get a credit if I buy the car before April1? But not take delivery by April 1?

turbonick · 03-30-2007, 02:53 PM

I'm about to buy an 07 Prius, but I'm worried about a loop hole. I'm signing all the contracts, paying the down payment ect today, but the dealership will not get the car until April 8 so I will not take delivery until April 9. Does that disqualify me? I just don't want to get dinged by some BS about ot actually taking delivery until after the deadline. Anyone out there know for sure?

Thanks,
Nick

JimN · 03-30-2007, 08:20 PM

<div class='quotetop'>QUOTE(turbonick @ Mar 30 2007, 02:53 PM) [snapback]415022[/snapback]</div>

Quote:

I'm about to buy an 07 Prius, but I'm worried about a loop hole. I'm signing all the contracts, paying the down payment ect today, but the dealership will not get the car until April 8 so I will not take delivery until April 9. Does that disqualify me? I just don't want to get dinged by some BS about ot actually taking delivery until after the deadline. Anyone out there know for sure?

Thanks,
Nick
[/b]

On form 8910 the IRS asks for the date the vehicle is placed in service. The bill of sale is going to be dated April 9 at the earliest. If the dealer has the VIN do you really want to pay for a car and insure it on March 31 sight unseen? On the other hand, the IRS doesn't require or receive any documentation. They may find the discrepency if they audit you and could legitimately charge you with tax fraud.

itsme · 03-30-2007, 09:08 PM

As Jim said you have to take delivery by April Fools Day no joke , it true and maybe it was a poor joke played on us all by our Government.

Look at a different dealer if the tax credit is a major decision maker. \ to me it is not worth tax fraud, Federal Time \NO WAY

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03-30-2007, 02:53 PM	#1
turbonick Join Date: Mar 2007 Posts: 14 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	I'm about to buy an 07 Prius, but I'm worried about a loop hole. I'm signing all the contracts, paying the down payment ect today, but the dealership will not get the car until April 8 so I will not take delivery until April 9. Does that disqualify me? I just don't want to get dinged by some BS about ot actually taking delivery until after the deadline. Anyone out there know for sure? Thanks, Nick

03-30-2007, 09:08 PM	#3
itsme Join Date: Mar 2007 Posts: 68 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	As Jim said you have to take delivery by April Fools Day no joke , it true and maybe it was a poor joke played on us all by our Government. Look at a different dealer if the tax credit is a major decision maker. \ to me it is not worth tax fraud, Federal Time \NO WAY