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When will Fed credit run out for Prime?

Discussion in 'Prime Main Forum (2017-2022)' started by ml888, Nov 14, 2018.

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  1. ml888

    ml888 Member

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    So far it's still the full $4502 but is there any word if it will be phased out come 1/1/2019? Thanks.
     
    #1 ml888, Nov 14, 2018
  2. john1701a

    john1701a Prius Guru

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    No, it should remain available all through next year.

    Toyota has enough tax-credits still and there's little chance of the government cancelling the incentive.
     
    #2 john1701a, Nov 14, 2018
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  3. ml888

    ml888 Member

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    That's good, thanks! So if one's not in a hurry to buy, it might be worth it to wait for a bigger Toyota customer cash in 2019 (if Toyota does the same thing it did in early 2018).
     
    #3 ml888, Nov 14, 2018
  4. CharlesH

    CharlesH CA HOV Decal #5 on former PiP

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    Particularly with party change in the House of Representatives.
     
    #4 CharlesH, Nov 15, 2018
  5. wjtracy

    wjtracy Senior Member

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    ...also when the credit is soon to be used up, you will know to run out and make the purchase...spoken as an Sept_06 purchaser of a Prius on the old hybrid credit, before it went to 1/2-as much.
     
    #5 wjtracy, Nov 15, 2018
  6. coach81

    coach81 Active Member

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    awesome
     
    #6 coach81, Nov 16, 2018
  7. ml888

    ml888 Member

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    Just now a dealer told me next year Fed tax credit for Prius Prime is gone, is that right? Clearly a month ago people in this thread think next year tax credit should be there, not sure if anything changed. Thanks! I think the dealer just wanted me to rush to buy as even if it's phasing out, next year should have half the credit, not totally gone isn't it?
     
    #7 ml888, Dec 28, 2018
  8. bisco

    bisco cookie crumbler

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    of course they want you to buy now, today, this very minute. don't leave!:p
     
    #8 bisco, Dec 28, 2018
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  9. john1701a

    john1701a Prius Guru

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    No. There are roughly 100,000 still available for Toyota, before even thinking about the phaseout stage.

    It's really sad that a dealer is either poorly informed or dishonest.
     
    #9 john1701a, Dec 28, 2018
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  10. wjtracy

    wjtracy Senior Member

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    Total lie, but OK if you want the tax credit in 2018 you only have a few days. If you can wait to 2019, no problemo.
     
    #10 wjtracy, Dec 28, 2018
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  11. ml888

    ml888 Member

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    Great, thanks for the quick reply! I'm not gonna rush for a decision then. Will check if there's really good end of year sale or else wait for next year.
     
    #11 ml888, Dec 28, 2018
  12. fuzzy1

    fuzzy1 Senior Member

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    Trump administration plans to end electric-car tax credits
    "... Trump's Chief Economic Adviser Larry Kudlow told Reuters that the administration plans to end the $7,500 federal tax credit by 2020 or 2021 for all automakers."

    To the best of our knowledge, it hasn't happened yet. With Congress out of session now, it can't happen before New Year's. And with many seats changing over a week from today, we'll shortly have a new ball game. No idea where it will be headed then, so tune in again soon.
     
    #12 fuzzy1, Dec 28, 2018
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