Prius Prime - official prices paid thread

Discussion in 'Prime Main Forum (2017-Current)' started by Will_Prius16, Dec 20, 2016.

  1. rjp123

    rjp123 Member

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    Don't they have sales tax in CA?
     
  2. pghyndman

    pghyndman Active Member

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    That is correct. The term "owing" is confusing and is better substituted with the term "liability".

    In your example you would get back $5502. Remember though that the calculations are based upon the taxable year in which the car was purchased. IE: a car purchased this year would be factored into your 2021 taxes.
     
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  3. rjp123

    rjp123 Member

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    Thanks for confirming that.

    What do I need to provide when filing my 2021 taxes next year to prove that I bought the car new in 2021?

    Also, if I sell it in 2021 will I still be eligible for the 4502.00 credit?

    I assume so but I really want to make absolutely sure before selling.
     
  4. Db17

    Db17 Member

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    Yes the do and it’s based on the price before all the rebates
     
  5. scottmksmk

    scottmksmk New Member

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    Hello Everyone,

    New Prius Prime owner here. I've been lurking for the past month and this forum has been very helpful educating me about the vehicle and also what was feasible with pricing.

    Here are the purchase details:

    Prius Prime LE Classic Silver
    $29,384.00 MSRP (Came with all weather floor liners)
    $2,300 Dealer Discount
    $6,850 Rebates ($4,000 Toyota, $1,000 Toyota Bonus, $750 Uber, $1,100 New York State)
    $2,369.85 Tax (8.75%:()
    $236.30 Fees ($138.50 New Plates,$75.00 Document, $12.50 Tire, $10.00 Inspection)
    $22701.35 OTD

    I'm in the Buffalo, NY area but the dealer was in Syracuse, NY. They delivered it to my house which was nice.

    I should get the federal rebate so grand total would be $18,337.85

    Thanks again.

    Scott
     
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  6. Salamander_King

    Salamander_King Senior Member

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    All you need is to fill out Form 8936 at the time you file your tax next year. You can sell the car in the same year as you purchased and still would be eligible for the credit. However, the IRS code does have a very vague "recapture" clause. I do not know how that may apply to the car sold in the same year as purchased. Theoretically, IRS can ask to "recapture" the credit if they find the car is no longer eligible for the credit. But I have not heard of any such case yet.
    Form 8936 - Internal Revenue Service
     
  7. rjp123

    rjp123 Member

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    Thanks very much for the 8936 form.

    It is strange that there is no proof of sale required, only the VIN and date of purchase. This tells me they must be able to look up the VIN and verify purchase date and who the buyer was. So I wonder what happens if the next owner of my car also tries to file the same VIN in the same year. I assume only the first buyer is eligible for the credit and the second gets denied.

    I did some additional reading and there is a stipulation that the car is not eligible if it is specifically purchased for the purpose of resale. But that should not apply to me since I certainly didn't intend to resell it so soon, just changed my mind, and honestly will be losing a fair amount of money on the deal. If for some reason I can't get the 4502 credit I will hold onto the car.
     
  8. icemchine9

    icemchine9 Junior Member

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    With the prices people can get for the Primes, why would anyone buy a regular Prius? I could see if people wanted AWD, but I'm having a hard time coming up with any other reasons.
     
  9. triggerhappy007

    triggerhappy007 Active Member

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    It seems like you repeated what I just said.
     
  10. Salamander_King

    Salamander_King Senior Member

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    Yeah, I think VIN can be used by IRS to verify the sales of the car. Only the first buyer or lease company can take the tax credit. So, even if the first buyer did not or forgot to apply or did not qualify for the tax credit, the second owner still can not use the credit. The "resale" clause is for dealers taking the advantage of the credit, and it should not apply to consumers selling the car after some use. But again, there is a "recapture" clause which is a catch 22 by the IRS to deny or ask for the return of the credit.

    The Toyota rebate is regional. There are many regions that have no incentives on PRIME or no stock. Also, the tax credit is based on the buyer's tax liability. If the buyer has no tax liability, then there is no tax credit advantage. So, there are still markets for the regular Prius.
     
    #4230 Salamander_King, Mar 7, 2021
    Last edited: Mar 7, 2021
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  11. DC_2004_Prius

    DC_2004_Prius Junior Member

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    looking for a new 2020 or 2021 prius prime in the DC Maryland Virginia market.

    Maryland seems to have better incentives out right now but am having trouble finding a straight shooting sales person/manager to help us find actual good deal to take advantage of the incentives out there right now.

    Anybody have a recommendation for a Maryland toyota dealer who can actually deliver a good deal - rather than inflated price, bait and switch, BS. We don't need to buy and we need to get to the bottom price possible with an honest broker.

    Also if we can find a new 2020 still on a lot- will we be able to get the tax credit on our 21 taxes for it? And what is the danger there are no more tax credits left for prime plug ins by next April 2022 when I file 2021 taxes.

    Also - any sense that Virginia will put in place additional state tax credit for plug in hybrid?

    Also is blind spot monitor only on Advanced and Limited trim packages?

    Thanks in advance!
     
  12. road2cycle

    road2cycle Junior Member

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    For 2021 blind spot monitoring is only available on the Limited trim level.

    Good luck with getting a fair price out your ways.
     
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  13. GSK

    GSK Member

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    I've been very pleased with my experiences at Kidd's Toyota in Cockeysville. Also Jones Toyota in Bel Air seemed pretty fair, to me.
     
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  14. rjp123

    rjp123 Member

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    If you don't mind driving up to NJ you can buy mine. I have a 2 month old black 2021 Prime Limited that I am planning to sell (Going with Tesla). Perfect condition, 2000 miles. If interested PM me. I got an offer from a local dealer for 26,500 and I think I am going to take it if I can't do better.

    It has an appearance package including pin stripe, door edge guards, wheel opening guards, and side body moldings.

    image1.jpeg


    prius2021WindowSticker.jpg
     
    #4234 rjp123, Mar 7, 2021
    Last edited: Mar 7, 2021
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  15. triggerhappy007

    triggerhappy007 Active Member

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    It doesn't matter what year. There's no danger of the credit going away for purchases made in 2021.
     
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  16. Yamsta

    Yamsta New Member

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    I had great experience with Fitzgerald Toyota in Gaithersburg. Did the full deal including negotiating my trade-in via text messages!
     
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  17. blizzardgal

    blizzardgal Junior Member

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    We are from Indiana and are going to be traveling to purchase a Prime xle at Koon's Maryland. Are there any issues with getting your car titled after returning home to Indiana? The sales person said that they would take care of all the Indiana tax and title work and would mail an Indiana tag. Not ever buying out of state before that seemed to be different and concerning. Please offer any advice. Thx.
     
  18. stuyguy

    stuyguy Active Member

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    @blizzardgal I bought a Prime in NY in 2017 and drove it home to CO. NY dealer collected CO tax and reg fees, and I did indeed receive tags and reg paperwork in the mail. Dealer used a 3rd party to deal with CO DMV. So, it can be done
     
  19. bbqnosher

    bbqnosher Junior Member

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    Who was the specific dealer? Romano? Burdick? The offer I received from a Rochester dealer was $800 off list on the same le version
     
  20. MarkOlin

    MarkOlin Member

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    Hey Scott,
    I too am from the Buffalo area. By any chance was the dealer in Syracuse "Romano"? I have been trying to strike a deal with them too and wondered what you thought of them?
     
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