Newbie Tax Credit Question

[jenniferzoch]

I apologize if this has been covered because when I search for 2008 tax credit I keep getting responses for 2007 taxes.

My question is this, if I purchase a 2008 Prius this year will there be a tax credit or is that done and over with?

Thanks,
Jennifer

[Yankees251]

Done, federal program ended fiscal year 2007.

[Jack66]

Sorry, but it is gone forever. The rebate started after Toyota filed for it and it was accepted by the government. The rebate was 100% until a certain number of qualifying cars were sold by Toyota then it became a partial rebate. The maximum number of qualifying cars were sold by Toyota and then the rebate went away. The phase-out of the rebate is linked to the number of qualifying cars sold by the manufacturer. Some other manufacturers still have qualifying cars because they haven't sold enough cars for whatever reason.

Most folks have been posting this information in the 2007 or earlier tax threads so that is probably why you didn't find a 2008 tax thread.

Enjoy your Prius -- it is a great car even without a tax rebate (I didn't get one either).

[jenniferzoch]

Thank you.

[la cucaracha]

Originally Posted by jenniferzoch

I apologize if this has been covered because when I search for 2008 tax credit I keep getting responses for 2007 taxes.

My question is this, if I purchase a 2008 Prius this year will there be a tax credit or is that done and over with?

Thanks,
Jennifer

If you purchase other hybrids they may qualify. Honda Civic hybrid still qualifies. I drove it and decided to pay more and buy the Prius.