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?

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

Re: tax credit for used hybrid?
 

balls. :(

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.

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....

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.

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.

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".

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?

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.

Re: tax credit for used hybrid?
 

When I read the tax form from the IRS NOWHERE did it ask for a vin or any proof of purchase. I also heard that the owner must keep the vehical at least 6 months to claim the credit.

Re: tax credit for used hybrid?
 

It's done by date in which the car was put into service... not by VIN. I went through this already with my accountant, who had to look it up. You don't send in anything in terms of proof of the sale. These days the IRS wants very little in terms of paperwork submitted... but if they question your filing and decide to audit, you'd better have the paperwork to back it up. In the case of this tax credit, what you need is some way to prove the date at which the car was first put into service. A bill of sale showing when the car was titled & registered to you should suffice.

Re: tax credit for used hybrid?
 

Well IMO it kinda great if 60,000 hybrid or advance lean burn technology vehicles of a particular manufacturer are sold, the tax credit is reduced and eventually eliminated.
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Re: tax credit for used hybrid?
 

You might try other hybrids like the Escape... While the prius is cool, there are other things out there worth a look...