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2007 Prius tax credit

Discussion in 'Gen 2 Prius Main Forum' started by vemvim, Sep 9, 2006.

  1. vemvim

    vemvim Junior Member

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    Does anyone know if 2007 Prius is qualified for the tax credit? The IRS website only mentions 2005 and 2006 Priuses as qualified for the tax credit although it seems to me that 2007 Prius should be qualified for the full amount($3150.00) if bought before September 30th. I talked to an IRS represeantative the other day and he said that the 2007 model had not yet been "certified" and as soon as it is, it will be posted on their website.Since a 2007 Prius has just become available at my dealership, I wonder if I should go ahead and buy it assuming that it will be eligible for the tax credit. I would appreciate your input.Thanks
    Vemvim
     
    #1 vemvim, Sep 9, 2006
  2. Soylent

    Soylent The v isn't a station wagon! It's just big boned

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    Congress has not yet passed a credit for the 2007 model year hybrids. That may or may not happen this year, but it's likely they'll do it in 2007.
     
    #2 Soylent, Sep 9, 2006
  3. ditto231

    ditto231 New Member

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    2007 Prius won't be out after Sept. 30, 2006.
     
    #3 ditto231, Sep 9, 2006
  4. highroute

    highroute New Member

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    <div class='quotetop'>QUOTE(vemvim @ Sep 9 2006, 09:54 AM) [snapback]316997[/snapback]</div>
    The information that Soylent posted in message #2 in this thread is incorrect. The hybrid tax credit that was enabled by the Energy Policy Act of 2005 extends from January 1, 2006 through December 31, 2010 (assuming there are still qualifying vehicles available then). No further action by Congress is required.

    I think the info you got from the IRS rep is probably correct. This is what IRS Notice 2006-9 says:

    It's been my understanding that the Japanese manufacturers start their model years later than the US manufacturers do. The 2007 Camry hybrid is an exception; the Camry hybrid is brand new and is being released as an early 2007. So it seems reasonable to me that Toyota simply has not completed its paperwork on the 2007 Prius even though that work is finished for other vehicles, especially domestic US vehicles. Or that Toyota has submitted the paperwork but that the IRS hasn't acted on it yet.

    <div class='quotetop'>QUOTE(ditto @ Sep 9 2006, 10:26 AM) [snapback]317006[/snapback]</div>
    Did you intend to write "2007 Prius won't be out until after Sept. 30, 2006"?
     
    #4 highroute, Sep 9, 2006
  5. Komilla

    Komilla New Member

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    <div class='quotetop'>QUOTE(highroute @ Sep 9 2006, 01:36 PM) [snapback]317010[/snapback]</div>
    I am currently in the market for an '07 Prius and most dealers in NJ are telling me that it is much easier for them to get the '07 rather than try for the '06.
     
    #5 Komilla, Sep 14, 2006
  6. PA

    PA Member

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    <div class='quotetop'>QUOTE(Komilla @ Sep 14 2006, 10:36 AM) [snapback]319478[/snapback]</div>
    If you won't take delivery of it until after 9/30/06, then it doesn't matter if you get an '07 instead of an '06. You'll have 6 months until the tax credit drops again. It would certainly be easier for the dealer to get the exact color & package you want if you get an '07. I think the base MSRP went up $400 and the packages have been changed around. Apart from that I don't recall there being much difference when I was researching it 2 months ago. With the feeding frenzy to beat the deadline, you won't find any big rebates on the '06 either, so you save nothing there.
     
    #6 PA, Sep 14, 2006
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