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It's official, tax bill includes credit for plug in electric vehicles

Discussion in 'Prime Main Forum (2017-2022)' started by pineprius, Dec 20, 2017.

  1. pineprius

    pineprius 15th Hole #4

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    The conference bill that passed today includes the credit for tax year 2018. For all you fence sitters, you have until 200,000 plug in vehicles are sold by Toyota to get a Prime with the $4502. Federal Tax Credit.
     
  2. Salamander_King

    Salamander_King Senior Member

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  3. huskers

    huskers Senior Member

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    I would have bet a monthly pay check this would NOT have happened.
     
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  4. dokihara

    dokihara Junior Member

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    Still trying to get mine before 12/31, otherwise i'd have to wait an entire year before I see that tax credit refund.
     
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  5. kortik

    kortik New Member

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    I just bought my Prius Prime Plus yesterday. for $22K plus tax. used with 5k miles on the engine in WA state. you are saying that prime bought in 2017 qualifyies for $4500 tax credit?
    How does federal tax work exactly? does anyone know details?
     
  6. dokihara

    dokihara Junior Member

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    no, the tax credit only applies to NEW vehicles.
     
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  7. kortik

    kortik New Member

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    2017 is not new? bought in 2017
     
  8. dokihara

    dokihara Junior Member

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    You just said you bought it used. (n)

    New as in it has never been previously owned, buying from the dealership.
     
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  9. kortik

    kortik New Member

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    yes used but it is still 2017 model and I am second owner. why wouldn't it apply to me?
     
  10. dokihara

    dokihara Junior Member

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  11. kortik

    kortik New Member

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    well that sucks then.
     
  12. huskers

    huskers Senior Member

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    Who in their right mind would sell a PRIME with that few miles on it?
     
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  13. kortik

    kortik New Member

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    I know right, but I was able to find it with just under 5K miles at Toyota of Olympia in WA state. I couldn't believe it myself but I took the chance and got Prime Plus.
    Dealer told me that the owner wanted more seats in the car or becuase of the big family. But I am not sure for 100% if that was the case.
     
  14. bisco

    bisco cookie crumbler

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    so they probably paid 28k, less the credit is 24.5k, 22k is still a great price for 5,000 miles, congrats, and all the best!(y)
     
  15. dokihara

    dokihara Junior Member

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    And the dealer probably purchased it for $18k or something insane :p
     
  16. bisco

    bisco cookie crumbler

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    gotta make money to stay in business. you trade in a new car, you lose.
     
  17. kortik

    kortik New Member

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    I had to put $500 deposit because there had line of other buyers that wanted it. But again maybe it was a dealer gimmick to make me more interested in the car. the sales man didn't even know that it was plug in prius LOL. I knew more about the car the the stealership :)

    the original price on the sticker that the 1st owner bought it for Blizzard white color and some accessories was $28**** for this Plus model. I actually like plus more that premium or advanced. I didnt' like that 11.6 inch screen looks like too much of a distraction to me.
     
    #17 kortik, Dec 20, 2017
    Last edited: Dec 20, 2017
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  18. fuzzy1

    fuzzy1 Senior Member

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    Because the law says so.

    These credits are limited to one per vehicle. First owner only. Otherwise, people could trade an almost new car as fast as the paperwork could be processed, generating dozens of credits per car in a single year, far in excess of the value of the car. That would clearly be fraud.
     
  19. A Prime Factor

    A Prime Factor Formerly "I want my PHEV"

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    Good. I found out I'm probably not getting mine before the end of the year.
     
  20. A Prime Factor

    A Prime Factor Formerly "I want my PHEV"

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    "New" and "used" mean two different things. Tax credit requires "new" and you bought "used".