Is Anyone Holding Out for 2008 Prius?

<div class='quotetop'>QUOTE(SandMan @ Mar 29 2007, 01:12 AM) [snapback]414056[/snapback]</div>

If people are waiting until the next generation/upgrade/version, it is probably the 2009 model year--which would most likely be released in the fall of 2008.

 

I am.

 

You'll want to wait for the 2010 Prius. That's when it's SP1 or 2 for the new generation.

 

The federal tax credit drops from $1,575.00 to $787.50 April 1, 2007 (Feds April Fool). On October 1, 2007 it drops to $0.00. The 2008 should be very similar to the 2007, if you are waiting, wait for the 2009. The tax credit is an incentive to buy now.

 

<div class='quotetop'>QUOTE(Tom 6850 @ Mar 29 2007, 05:59 AM) [snapback]414075[/snapback]</div>

Correction.... If you buy before October you might get the tax credit. If your upper middle class with house and kids, that possibility is harder. Talk to an accountant, or open TurboTax and pretend that you bought in December 2006. See if you hit the AMT sinkhole.

Forum polls I've seen say that less than half of the people that tried to get the credit qualified for the full amount.

11011011

 

<div class='quotetop'>QUOTE(NuShrike @ Mar 29 2007, 03:21 AM) [snapback]414065[/snapback]</div>

Hehe... M$ isn't releasing this so it's a lot less risky to get the release version

 

When the next generation Prius comes out in 2008 or 2009 or whenever, it will probably sell well above MSRP (which will probably also rise) and with long waits for a couple of years. I decided not to wait - right now I can afford a new Prius, but when they role out the next generation, I probably won't be able to afford new for a few years again. Also, gas prices might rise quite a bit by then making them even more in demand than the current generation. Right now is a great time to buy - cars are on the lots, deals are to be had, tax credits still exist, and financing rates are low.

 

I've decided to wait. I'm already getting great MPG in my Prius right now. I figure that if I can get over the EPA on the new model, be it 2009 or whatever, then that'll be just freakin awesome.

Seems like the G2 Prius owners are getting some mixed FE. Some get great mileage and others are getting lower mileage than their old Prii. I figured there is no reason to chance it if I can get about 55 MPG ATM.

 

<div class='quotetop'>QUOTE(Dan. @ Mar 29 2007, 07:50 AM) [snapback]414087[/snapback]</div>

Ah, boo hoo. Sorry, I don't have much sympathy for people who have so many deductions to be hit with AMT (maybe I am just bitter about tax deductions/credits heavily favoring owners of large homes and large families - two things I don't think the government should subsidize). Anyways, yeah, you might want to check out the AMT before assuming you will get the credit - it seems like a lot of people get unpleasant surprises.

 

I got a prius and got married the same year. Turns out that the two of us together pushes us into AMT land :-(. The bad part is that I have never paid AMT before and was hoping for that $3000 back. Now I get nothing and barley anything back on taxes. Stupid marriage penalties!

/Robert

 

<div class='quotetop'>QUOTE(MarkMN @ Mar 29 2007, 11:36 AM) [snapback]414252[/snapback]</div>

No apology needed. I'm quite happy with both my Prius, and my deductions. Just wanted to point out to the original poster a gotcha that is commonly overlooked. IRS could use an enema, but that's a different thread (or at least a signature tag line).

11011011

 

<div class='quotetop'>QUOTE(Presto @ Mar 29 2007, 09:14 AM) [snapback]414233[/snapback]</div>

Remember all the TSBs for the 2004 release?
Most of it wasn't cleaned up and polished until the 2006 release.

 

^^^

No doubt that there'll be some polishing, and I'll be one of the ones that wait for the 2nd or 3rd release, but I still think it'll be an awesome, 1.0 for the 3rd gen

 

<div class='quotetop'>QUOTE(SandMan @ Mar 29 2007, 04:12 AM) [snapback]414056[/snapback]</div>

I'm waiting for the plug-in version. Or EV version.

2009, 2013, whenever.

 

<div class='quotetop'>QUOTE(SomervillePrius @ Mar 29 2007, 01:09 PM) [snapback]414286[/snapback]</div>

It's not the AMT, it's the Tentative Minimum Tax (TMT). One just uses the AMT forms for the calculation. Some taxpayers benefit by going Married Filing Seperately.

 

<div class='quotetop'>QUOTE(SandMan @ Mar 30 2007, 09:24 PM) [snapback]415262[/snapback]</div>

there are good deals out there right now on these prius. and price of the new one IS going to be more than little higher. the reason behind that is some of the options today like VSC is going to be standard equip by 2010.

if you know how much distance you drive a year, try leasing. 3yr for 15,000/yr, you probably save about $100/mo on the payment. and in 3 yrs, i'm pretty sure the technology that's in today's are going to be replaced or improved. you may not get your tax credit but when 3rd yr comes, you'll be able drop the old one and get in the new one easy.

 

My Crystal Balls recommend that you buy now, get the best tax credit you can now, and probably get a good deal now while there's still deals to be had. (Though with gas prices rising, those deals are vanishing pretty quickly).

Then, if you like what comes out in 08/09 - trade up. When gas prices, low supply, or hybrid hype drive up the cost of new models, they also tend to pull up the trade in or private sale value of existing ones by just about as much. You might do quite well on the deal, or, you might decide you like and want to keep your 07.

But then again, what the hell do my crystal balls know? At least their better than my magic 8 ball. I keep asking it what's wrong with my email, and all it ever tells me is "Outlook Not So Good"....

-Ken