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Government & Taxes Money, credits and more! 

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  #1 (permalink)  
Old 07-16-2007, 11:01 AM
ryanw's Avatar
ryanw ryanw is offline
teh nuberz
 
Location: az
Hybrids: 2006 civic hybrid
Posts: 53
Default tax credit for used hybrid?

I keep hearing mixed things about this. Does anyone know for sure whether or not I will be eligible for any tax credit for buying a 2006 honda civic hybrid in 2007?
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  #2 (permalink)  
Old 07-16-2007, 01:39 PM
tcampb01 tcampb01 is offline
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Real Name: Tim
Location: Dearborn, MI
Hybrids: '05 Ford Escape Hybrid 4WD & '06 Toyota Prius
Posts: 174
Default Re: tax credit for used hybrid?

From the IRS website:

"The credit is available only to the original purchaser of a new qualifying vehicle. "

See: http://www.irs.gov/newsroom/article/...107766,00.html

.

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  #3 (permalink)  
Old 07-16-2007, 02:03 PM
ryanw's Avatar
ryanw ryanw is offline
teh nuberz
 
Location: az
Hybrids: 2006 civic hybrid
Posts: 53
Default Re: tax credit for used hybrid?

balls.
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Old 07-16-2007, 02:27 PM
gumby gumby is offline
Energy Independence
 
Real Name: Steve
Location: Richardson, TX
Hybrids: '06 Civic Hybrid Magnetic Pearl w/Navi (as of July 1, 2006)
Posts: 1,024
Default Re: tax credit for used hybrid?

Balls indeed.
But this is proper, since the original owner got the Tax Credit. The Gov't doesn't want to pay the credit on the same vehicle over and over, each time it is sold over its life.

.

Steve

STOP terrorism - Drive a HYBRID

Vehicles:
350 miles a week ------------ 2006 HCH II, Magnetic Pearl, w/NAVI (born on May 25, 2006)
350 miles a month ---------- 2003 Mazda Tribute ES-V6
350 miles a year (for now) - 1986 Mercedes 560SL
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Old 07-18-2007, 07:16 PM
pb5927317 pb5927317 is offline
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Real Name: Patrick
Location: Decatur, Indiana
Hybrids: 2008 Mercury Mariner
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Default Re: tax credit for used hybrid?

That would be fitting for the government to give the same credit over and over each time the same vehicle sold. Most states charge sales tax each time a vechicle is sold over and over....
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  #6 (permalink)  
Old 07-19-2007, 03:23 PM
ryanw's Avatar
ryanw ryanw is offline
teh nuberz
 
Location: az
Hybrids: 2006 civic hybrid
Posts: 53
Default Re: tax credit for used hybrid?

I was thinking the same thing. Not only that, but someone else decided not to continue to save on fuel usage and traded it in. I traded in my gas guzzling hot rod for this car and put it back on the road. That ought to be worth something.
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  #7 (permalink)  
Old 07-21-2007, 04:19 PM
Gairwyn Gairwyn is offline
Think green.
 
Location: New England
Hybrids: 2004 HCH
Posts: 188
Default Re: tax credit for used hybrid?

From what I read when I purchased my used hybrid, there is no federal tax credit for anyone other than the original purchaser.
But I didn't have to pay state tax on the car.
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Old 08-14-2007, 09:42 AM
exbauer exbauer is offline
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Posts: 434
Default Re: tax credit for used hybrid?

well, if that car was never titled then it would still be new even if you bought it in 2007. but, i doubt that is the case. i feel if you get a hybrid you should get an incentive instead of just being "green".
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Old 09-03-2007, 07:19 AM
katebell1977 katebell1977 is offline
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Real Name: Kate
Location: Newport Beach, CA
Hybrids: 2007 Toyota Prius package #2
Posts: 2
Default Re: tax credit for used hybrid?

that is why we didnt buy a prius with 344 miles on it. it was an unwind deal and they wouldn't even give me the eco rebate toyota is offering now so i said forget it. plus the new one i got is better because it has more stuff on it . But i dont see anything about the 07 ones for tax credit so does that mean i dont get anything or they dont post it until tax time?
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Old 09-10-2007, 01:03 PM
abowles abowles is offline
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Real Name: Alden Bowles
Location: Frisco, Tx
Hybrids: 2005 Toyota Prius II HSD
Posts: 253
Default Re: tax credit for used hybrid?

If you do it will be much smaller. The Prius credit started at $3150 and is headed toward elimination because the credit was only good on the 1st 60,000 sold thru the following qtr that milestone was reached. It then drops incrementally after each additional 60,000 are sold 3 more times until elimination. Or something like that.

.

Alden Bowles
2005 Toyota Prius II HSD

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