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Does an 08 purchased in NY qualify?

Discussion in 'Prius Tax Credit Discussion' started by Eco-chic, Mar 30, 2008.

  1. Eco-chic

    Eco-chic New Member

    Joined:
    Mar 30, 2008
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    Location:
    Long Island
    Vehicle:
    2008 Prius
    I'm a new owner & i heard I missed out, is that true?
     
  2. Jack66

    Jack66 Kinda Jovial Member

    Joined:
    Jan 26, 2008
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    Location:
    Stafford, Virginia
    Vehicle:
    2008 Prius
    Unfortunately, yes, if you are talking about a Toyota. The faster a carmaker sells hybrids the faster the rebate goes away. The Prius is a very popular hybrid.

    I didn't get the rebate either, but the consolation prize is we got a great car!:)
     
  3. NYPrius1

    NYPrius1 Active Member

    Joined:
    Jul 7, 2007
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    Location:
    Middletown, NY
    Vehicle:
    2007 Prius
    Did they take away the tax credits from EXXON Mobile for pumping too much gas??
    I'll Bet Not!!:fencing:
     
  4. Prius 07

    Prius 07 Member

    Joined:
    Jun 6, 2007
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    Location:
    Toronto, Canada
    Vehicle:
    2007 Prius
    Don't miss out on refueling in time;) (like when you're at two pips). Welcome to PC and congrats on your new car.
     
  5. Boo

    Boo Boola Boola Member

    Joined:
    Feb 13, 2007
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    Location:
    Flushing, NY
    Vehicle:
    2007 Prius
    Model:
    N/A
    One is eligible for a hybrid tax credit for Toyota hybrids only if one took delivery by 9/30/07. Anyone taking delivery on a Toyota hybrid on or after 10/1/07 is not eligible for any hybrid credit. Here's the IRS webpage on the subject:

    Summary of the Credit for Qualified Hybrid Vehicles

    Don't feel too bad though:

    -- Because of the Alternative Minimum Tax, many people otherwise eligible for the tax credit did not get it either.

    -- Average sale prices for the Prius seemed to go down roughly at the rate that the tax credit was reduced.

    Bottom line - the price you paid for the Prius is probably in the ballpark with the price others paid after deducting their tax credit.