Prius advice

<div class='quotetop'>QUOTE(brad34695 @ Mar 22 2007, 07:13 PM) [snapback]410502[/snapback]</div>

Just one of many threads on this very topic:

http://priuschat.com/Spy-Photos-for-the-Ne...ius-t28591.html

"The Search button...try it, you'll like it "

 

You have a couple of years left, and it's estimated to have 80 MPG...we'll see.
I'm intrigued, and I can't wait to see how the final product comes out. The picture in the Spy Report looks great, but who knows if that's what it will look like.

I say you buy a 2007 now, take care of it, and trade it in for a 2009 the second they're available.

 

<div class='quotetop'>QUOTE(mywhitenoise @ Mar 22 2007, 07:42 PM) [snapback]410522[/snapback]</div>

Also for what it's worth, until March 31st you still qualify for the $1575 tax credit (good as cash unless you owe very little tax to start with or earn enough to qualify for Alternative Minimum Tax), and the finance rates and incentives seem to be pretty good right now.

 

Those of us who have the extras like them. The NL package (does it really mean No Leather?) has everything but the leather seats, but your region may not have them available. Also, here on the other side of the country, Toyota is offering 2.9%/60 month financing. The $1575 tax credit is applied against your 2007 income, as long as it isn't extreme, as noted before.

Buy now. save a bundle on gas, save on taxes, get a new one in 2009.

 

<div class='quotetop'>QUOTE(MegansPrius @ Mar 22 2007, 06:46 PM) [snapback]410525[/snapback]</div>

...and you don't have other credits on 1040 lines 47-55 which will probably reduce the amount of the credit you can take.

People generally don't have to worry about AMT. What trips them up is the TMT (Tentative Minimum Tax).

As an estimate, create a bogus 2006 form 1040 in your tax software and include the $1575 credit on form 8910 and see what happens. If you need software, download the free program at www.taxact.com.

 

<div class='quotetop'>QUOTE(JimN @ Mar 23 2007, 12:14 AM) [snapback]410665[/snapback]</div>

Just to add to what Jim said, you don't have to be in an extreme tax situation to not get the full tax credit. We have a moderate income (never even thought about paying AMT in the past) and 2 kids (=$2,000 credit). I mocked up next years tax forms using 2006 numbers and came up with about a $600 hybrid tax credit in my case. Oh well, it's still better than nothing. In any event, it's good to have a rough idea of what's coming to you instead of counting on the full $1575 and not getting it.

Edit: You should be able to get into one right now for at or just under dealer invoice (I did). The 0% 24 month/2.9% 48 month financing offer is good until April 2 I believe (I thought 60 month was 3.9% but not positive as I really didn't look into that). This is pretty much the best time to buy one as far as I can tell.

 

<div class='quotetop'>QUOTE(Highly ImPriused @ Mar 23 2007, 09:36 AM) [snapback]410827[/snapback]</div>

Since you are playing with numbers--have you tried splitting your deductions and filing seperately? Every situation is different but sometimes that helps.