Niiccce. Thanks. I had an Acura TL with Navi and now MDX with Navi so that may push my decision towards the Civic since I feel Honda has the best Navi out there.

Point of clarification: If you buy a hybrid on January 1st, 2006, does the federal tax credit come back to you on the taxes you file April 15, 2006 or on April 15, 2007?

-Augie

blog: http://www.variousandsundry.com
comics: http://pipeline.comicbookresources.com

I would guess 2007.

My hydroponics experiment

You ever notice how hard it is to lip read cartoon characters?
"Crazy is what the sane call Delta Flyer"

The credit will be given for the 2006 year and the return filed before April 15th 2007.
So looks like you'll have to wait a year to get the credit.


This may be wishful thinking, but some types of credits like the earned income credit, the govt has a method of paying the taxpayer before the tax return is filed. Maybe a way to get uncle sam's money earlier. Any body know if this is a possibility? I'm not getting my hopes up.

I'm pretty sure it's a tax credit. Which is better.

Tax credits start in 2006. Current federal incentive is the tax deduction only.

2001 Prius Photos       2005 Prius Photos
'97 Prius Simulation Prius inner workings

Anybody know how the new tax law applies to used hybrids? It would be a great loop-hole selling point ... I could take my $2000 tax deduction in 2005, sell my FEH for ~$2000 profit (negative depreciation based on current Kelley Blue Book & Edmunds), then buy a new 2006 FEH and get the $2,600 tax credit! The ~$5K gained should take care of the hybrid premium quite nicely. Prius owners may do similar.

By-the-buy: If you want to buy American, you can pre-order a Ford Escape hybrid or a Mercury Mariner hybrid with the options and color you want (no wait list), then take delivery in 2006 for tax credit. That way you don't have to worry about the first 60K vehicle limit on foreign manufacturers.


-Dan

Yahoo FEH Group

I know the 2004 tax credit/deduction was for NEW cars only - I know for a fact because I bought a USED HCH and did NOT get the credit because it applied to "original owners" and "first time use of the vehicle" to which used car purchases do not apply.

I do not know about the 2006 restrictions however - sorry....

I'd like to know about tax credits too. I bought a new 04 Prius in 03. It's now almost 2 years old.

Infael

2004 Gray Prius with smart start/entry and VSC

http://www.hybridcars.com/tax-deductions.html

the full Government bill can be found at:
http://energycommerce.house.gov/108/...onf_report.pdf

The entire bill is 1724 pages long, but you can begin reading on page 1391. The section is titled “Alternative Motor Vehicles and Fuel Incentives”.

The hybrid car tax credit phaseout language is on pages 1417 and 1418.

Larry
'06 Magnetic Pearl HCH #7264