Anyone know the 2006 HCH Tax Credit?
This is just a question to anyone who has heard about the tax credit for the 2006 Honda Civic Hybrid, anyone know what it's projected to be?
I've seen lots of estimates for Honda Civic Hybrids (including in these forums) but they seem to all be for the 2005 (since they list manual and automatic) Civic Hybrid, with the auto being $2100.00, but I'm guessing that won't be accurate. I would hope that the 2006 Civic Hybrid would do better than that, since it's a generation ahead of the 2005 systems and hopefully cleaner etc.. Anyone heard? Scott |
Re: Anyone know the 2006 HCH Tax Credit?
From the IRS:
"The original purchaser of a qualifying hybrid gas-electric car may deduct $2,000 for the year the vehicle is first used, if that year is before 2006. In 2006, the deduction is scheduled to drop to $500. These vehicles qualify for the clean-fuel vehicle deduction:
and here for the deduction in 2006 so IRS hasn't OK'd the 2006 HCH yet. yet, honda website's says that there is a clean-fuel tax deduction for the 2006 civic hybrid click here all the forms are listed and whatnot, and it has explanations for how to file if you bought your hybrid in 2004 or in 2005. anybody make sense of what's going on? |
Re: Anyone know the 2006 HCH Tax Credit?
Originally Posted by bluecivichybrid
$2,000 if you purchased any new civic hybrid in 2005.
you can find this on the honda website for the new civic hybrid click here all the forms/information are listed and linked for you conveniently by honda. To answer the original question, I think $2100 for the HCH is still our best guess. It probably was calculated based on the parameters of the 2005 model, and so it's possible IMHO that the actual credit will be slightly higher. We'll only know for sure when the proper regulation is published by the IRS. They seem to be in no rush because no one will be in a position to claim the credit until they turn in their 2006 tax return in 2007. |
Re: Anyone know the 2006 HCH Tax Credit?
Originally Posted by ElanC
We'll only know for sure when the proper regulation is published by the IRS. They seem to be in no rush because no one will be in a position to claim the credit until they turn in their 2006 tax return in 2007.
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Re: Anyone know the 2006 HCH Tax Credit?
Originally Posted by tanstaafl14
There are lots of people looking to buy a hybrid early next year based on that tax credit. Therefore it is incumbent on the Infernal Revenue Service to publish that information ASAP. Of course, since we're taking about a government agency here, logic & common sense go out the window. :angry:
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Re: Anyone know the 2006 HCH Tax Credit?
My Honda dealer was puzzled when I said I'll wait to buy in 2006. Then, he found an email from the manager (which I read while he was away) that described how a tax credit is dollar-for-dollar as opposed to a tax deduction where it's just a percentage. It went on to say $1k was necessary for the dealership to take delivery before 2006 and hold on to the car until Jan. 2006.
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Re: Anyone know the 2006 HCH Tax Credit?
Originally Posted by moosh
It went on to say $1k was necessary for the dealership to take delivery before 2006 and hold on to the car until Jan. 2006.
Don |
Re: Anyone know the 2006 HCH Tax Credit?
Originally Posted by dshelman
Boy, ain't those guys SNEAKY! :angry: They're trying to suck the tax credit right out of the deal. What's a mother to do? :(
Don |
Re: Anyone know the 2006 HCH Tax Credit?
Mine is supposed to arrive in a couple weeks. Ralph Schomp Honda is going to hold the car until after the first of the year. No deposit required...no additional payment required. Right now, they are selling for MSRP. Schomp never charges more than MSRP and doesn't have any additional charges or "forced options". You get the car exactly like you want it.
Of course, this is my fourth HOT selling Honda ('99 Ody, '03 Pilot (first off the lot), '05 Ody) that I am paying MSRP or near MSRP (never over MSRP) with them, so they know me well. Plus, they have made plenty off me already. |
Re: Anyone know the 2006 HCH Tax Credit?
The 1k was a non-refundable deposit that goes towards the price of the car.
Originally Posted by dshelman
Boy, ain't those guys SNEAKY! :angry: They're trying to suck the tax credit right out of the deal. What's a mother to do? :(
Don |
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