08 tax questions

[Steven58]

Interesting Question:

Does an '08 Prius qualify for the tax credit if purchased before 10/1/07?

Also, do '08 hybrid civics qualify for the 2100 tax credit?

(I am torn between purchasing a prius, civic hybrid and the sporty civic coupe)

Thanks in advance.

Steven

[JimN]

<div class='quotetop'>QUOTE(Steven58 @ Sep 10 2007, 02:55 PM) [snapback]510174[/snapback]</div>

Interesting Question:

Does an '08 Prius qualify for the tax credit if purchased before 10/1/07?

Also, do '08 hybrid civics qualify for the 2100 tax credit?

(I am torn between purchasing a prius, civic hybrid and the sporty civic coupe)

Thanks in advance.

Steven
[/b]

Since the 2008 Prius is unchanged I would expect it to be added to the IRS list and qualify for the same credit as the 2007. It takes quite some time for the IRS to update their list.

Are you interested in buying a car or a tax credit to use on the road? Are you going to be able to take advantage of the full amount of the credit?

[JimN]

<div class='quotetop'>QUOTE(Steven58 @ Sep 10 2007, 02:55 PM) [snapback]510174[/snapback]</div>

Interesting Question:

Does an '08 Prius qualify for the tax credit if purchased before 10/1/07?

Also, do '08 hybrid civics qualify for the 2100 tax credit?

(I am torn between purchasing a prius, civic hybrid and the sporty civic coupe)

Thanks in advance.

Steven
[/b]

Since the 2008 Prius is unchanged I would expect it to be added to the IRS list and qualify for the same credit as the 2007. It takes quite some time for the IRS to update their list.

Are you interested in buying a car or a tax credit to use on the road? Are you going to be able to take advantage of the full amount of the credit?

[Steven58]

<div class='quotetop'>QUOTE(JimN @ Sep 11 2007, 10:35 PM) [snapback]510999[/snapback]</div>

Are you interested in buying a car or a tax credit to use on the road? Are you going to be able to take advantage of the full amount of the credit?
[/b]

Hey Jim,

I have a quote for a red 07 prius package 6 for 26444, which is 650 over invoice. If I purchase it before 10/1 I get the partial tax credit of 700 something dollars. If I buy the civic hybrid, I get the full 2100 dollars. That stated, I find the Honda colors to be dull. I test drove the car and found the engine to be a bit jumpy when it started up after the shut down at red lights. I pretty much discounted it. The only thing I liked about it was the mpg's and the price.

Today I test drove the civic gas models and liked them well enough, but they were kinda dull. I guess I'm leaning toward the prius, then.

Steven

[Steven58]

<div class='quotetop'>QUOTE(JimN @ Sep 11 2007, 10:35 PM) [snapback]510999[/snapback]</div>

Are you interested in buying a car or a tax credit to use on the road? Are you going to be able to take advantage of the full amount of the credit?
[/b]

Hey Jim,

I have a quote for a red 07 prius package 6 for 26444, which is 650 over invoice. If I purchase it before 10/1 I get the partial tax credit of 700 something dollars. If I buy the civic hybrid, I get the full 2100 dollars. That stated, I find the Honda colors to be dull. I test drove the car and found the engine to be a bit jumpy when it started up after the shut down at red lights. I pretty much discounted it. The only thing I liked about it was the mpg's and the price.

Today I test drove the civic gas models and liked them well enough, but they were kinda dull. I guess I'm leaning toward the prius, then.

Steven

[jpmorgan49]

<div class='quotetop'>QUOTE(Steven58 @ Sep 11 2007, 11:27 PM) [snapback]511074[/snapback]</div>

Hey Jim,

I have a quote for a red 07 prius package 6 for 26444, which is 650 over invoice. If I purchase it before 10/1 I get the partial tax credit of 700 something dollars. If I buy the civic hybrid, I get the full 2100 dollars. That stated, I find the Honda colors to be dull. I test drove the car and found the engine to be a bit jumpy when it started up after the shut down at red lights. I pretty much discounted it. The only thing I liked about it was the mpg's and the price.

Today I test drove the civic gas models and liked them well enough, but they were kinda dull. I guess I'm leaning toward the prius, then.

Steven
[/b]

I should be taking delivery of my 2008 Prius next week. My dealer told me, and it's also on the Toyota Web Page that if you buy a NEW 2007 or 2008 Prius and take delivery before 10/1/07 you get the $700 or $750 tax credit. I don't believe you'd get the $2100 for buying the Honda, I think the Tax Credit is based on the year the credit was introduced not the model.
jp

[jpmorgan49]

<div class='quotetop'>QUOTE(Steven58 @ Sep 11 2007, 11:27 PM) [snapback]511074[/snapback]</div>

Hey Jim,

I have a quote for a red 07 prius package 6 for 26444, which is 650 over invoice. If I purchase it before 10/1 I get the partial tax credit of 700 something dollars. If I buy the civic hybrid, I get the full 2100 dollars. That stated, I find the Honda colors to be dull. I test drove the car and found the engine to be a bit jumpy when it started up after the shut down at red lights. I pretty much discounted it. The only thing I liked about it was the mpg's and the price.

Today I test drove the civic gas models and liked them well enough, but they were kinda dull. I guess I'm leaning toward the prius, then.

Steven
[/b]

I should be taking delivery of my 2008 Prius next week. My dealer told me, and it's also on the Toyota Web Page that if you buy a NEW 2007 or 2008 Prius and take delivery before 10/1/07 you get the $700 or $750 tax credit. I don't believe you'd get the $2100 for buying the Honda, I think the Tax Credit is based on the year the credit was introduced not the model.
jp

[Danny Hamilton]

<div class='quotetop'>QUOTE(jpmorgan49 @ Sep 13 2007, 05:16 PM) [snapback]512174[/snapback]</div>

I should be taking delivery of my 2008 Prius next week. My dealer told me, and it's also on the Toyota Web Page that if you buy a NEW 2007 or 2008 Prius and take delivery before 10/1/07 you get the $700 or $750 tax credit. I don't believe you'd get the $2100 for buying the Honda, I think the Tax Credit is based on the year the credit was introduced not the model.
jp
[/b]

Actually the credit is based first on the model, and then on when the manufacturer has sold a certain number (I don't remember how many) of hybrids in the U.S.

The initial tax credit for a Prius was a little over $3k
Toyota has been so successful in selling their hybrids, they reached the trigger back in March of 2006.
This means that the credit got cut in half to somewhere around $1.5k back on Oct. 1, 2006 and got cut in half again 6 months later to just about $750 on April 1, 2007. Come Oct. 1, 2007 (6 months since the last reduction) the credit for the Prius will be gone unless Congress and the President decide to enact another tax credit.

Honda on the other hand hasn't been nearly as successful at selling hybrids, so as far as I know they haven't reached the trigger yet and Honda hybrids still get their full original tax credit. Therefore the $2100 is probably still available (I'm not certain on this because I was never really interested in the Honda hybrids anyhow so I haven't followed their tax credit and sales very closely)

In the back of my mind I can't help but think, "There's a reason that Toyota sells more Prius with a $750 credit than Honda can sell of their hybrids with a $2100 credit."

[Danny Hamilton]

<div class='quotetop'>QUOTE(jpmorgan49 @ Sep 13 2007, 05:16 PM) [snapback]512174[/snapback]</div>

I should be taking delivery of my 2008 Prius next week. My dealer told me, and it's also on the Toyota Web Page that if you buy a NEW 2007 or 2008 Prius and take delivery before 10/1/07 you get the $700 or $750 tax credit. I don't believe you'd get the $2100 for buying the Honda, I think the Tax Credit is based on the year the credit was introduced not the model.
jp
[/b]

Actually the credit is based first on the model, and then on when the manufacturer has sold a certain number (I don't remember how many) of hybrids in the U.S.

The initial tax credit for a Prius was a little over $3k
Toyota has been so successful in selling their hybrids, they reached the trigger back in March of 2006.
This means that the credit got cut in half to somewhere around $1.5k back on Oct. 1, 2006 and got cut in half again 6 months later to just about $750 on April 1, 2007. Come Oct. 1, 2007 (6 months since the last reduction) the credit for the Prius will be gone unless Congress and the President decide to enact another tax credit.

Honda on the other hand hasn't been nearly as successful at selling hybrids, so as far as I know they haven't reached the trigger yet and Honda hybrids still get their full original tax credit. Therefore the $2100 is probably still available (I'm not certain on this because I was never really interested in the Honda hybrids anyhow so I haven't followed their tax credit and sales very closely)

In the back of my mind I can't help but think, "There's a reason that Toyota sells more Prius with a $750 credit than Honda can sell of their hybrids with a $2100 credit."

[IsrAmeriPrius]

<div class='quotetop'>QUOTE(Danny Hamilton @ Sep 13 2007, 03:41 PM) [snapback]512190[/snapback]</div>

Actually the credit is based first on the model, and then on when the manufacturer has sold a certain number (I don't remember how many) of hybrids in the U.S.[/b]

Sixty thousand sales of hybrid automobiles by a manufacturer, while the tax credit was in effect, trigger the phase out of the tax credit for its cars. Toyota surpassed that number in the second quarter of last year. AFAIK, Honda is nowhere near the 60,000 mark, thus its cars are still eligible for the full amount of the credit that its cars were originally entitled.