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A new tax question for an '05 and other questions

Discussion in 'Gen 2 Prius Main Forum' started by jw_teacher, Dec 28, 2005.

  1. jw_teacher

    jw_teacher Junior Member

    Joined:
    Sep 21, 2005
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    Location:
    MO
    Vehicle:
    2018 Prius Prime
    Model:
    Prime Advanced
    :D Good news if you remember my posts from this thread...

    http://priuschat.com/index.php?showtopic=13773&hl=


    I've called every dealership in every bordering state near me with no luck finding an '06 package #7 Classic Silver Metallic Prius. However, I did happen to stumble across one dealership who was selling a brand new '05 package #6 Millenium Silver, the car I originally agreed to with one dealership.

    Now if I wait until next year to purchase a new 2005 Prius will I still be eligible for the 2006 tax credit of $3150? Or does the tax credit apply only to new 2006 Priuses, meaning I *must* pick up my '05 Prius to receive the $2000 tax deductible this year or receive nothing? The forms I've read were pretty vague on the subject so was hoping someone would know.

    About the differences between an '05 package #6 and an '06 package #7 I need a refresher on... They should be exactly the same except the '06 would have a...

    1. Higher Screen Resolution (MFD)
    2. Tire Pressure Indicator
    3. Rear View Camera

    Besides that, the navigation system should be exactly the same right? Do both function exactly the same in terms of giving *voice* commands (i.e. turn right, left) along a driver's route? I don't think I get as many speakers with the '05, but if I'm mistaken please let me know.
     
    #1 jw_teacher, Dec 28, 2005
  2. Kiloran

    Kiloran New Member

    Joined:
    Aug 31, 2005
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    Model year doesn't matter to the IRS.
    A 2005 Toyota Prius is a qualified hybrid for purposes of the credit. B)
     
    #2 Kiloran, Dec 28, 2005
  3. Springtime

    Springtime Member

    Joined:
    Nov 24, 2005
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    Location:
    Eastern PA
    I too am picking up my silver 2005 pkg#6 on 1/2/06! I hope you did some negotiating when it came to price. Depending upon the package I was quoted $1000 - $1600 off of MSRP.

    One dealer who had two silver 2005 pkg #6 sitting on his lot said the price of the 2005's would be MSRP. My local dealer traded with this dealer and sold me the car for $1600 less than MSRP. And I get the $3150 tax credit by waiting until 1/2/06.

    Three weeks ago the 2005's were selling at MSRP, must take delivery immediately and would have been subject to the $2000 deduction instead of the $3150 credit in 2006. Waiting a few weeks made a big difference!

    Springtime
     
    #3 Springtime, Dec 28, 2005
  4. Asian Brad

    Asian Brad New Member

    Joined:
    Dec 20, 2005
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    Atlanta, GA
    As long as you are the first owner of the Prius and you take delivery in 2006, you will qualify for the tax credit.
     
    #4 Asian Brad, Dec 28, 2005
  5. Asian Brad

    Asian Brad New Member

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    also, you're missing out on the mp3 compatibility, not only in the mp3 cd player but in the aux in jack. the 06 airbags now have dual stage deployment. not sure if the 05s did or not, though.
     
    #5 Asian Brad, Dec 28, 2005
  6. leeskarha

    leeskarha New Member

    Joined:
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    Model year does mater to the IRS. Each model year must be reviewed by the IRS. See attachments. The 05 year letter states the cost exceeds $2000.
    You may want to talk to your tax advisor.
     
    #6 leeskarha, Dec 29, 2005
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