tax credit for used hybrid?
Active Enthusiast
Joined: Mar 2005
Posts: 246
From: Dearborn, MI
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
"The credit is available only to the original purchaser of a new qualifying vehicle. "
See: http://www.irs.gov/newsroom/article/...107766,00.html
Energy Independence
Joined: Feb 2006
Posts: 1,282
From: Richardson, TX
Re: tax credit for used hybrid?
***** 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.
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.
Active Enthusiast
Joined: Jun 2007
Posts: 183
From: Decatur, Indiana
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....
Thread Starter
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teh nuberz
Joined: Jun 2007
Posts: 53
From: az
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.
Think green.
Joined: Jul 2007
Posts: 733
From: New England
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.
But I didn't have to pay state tax on the car.
Pretty Darn Active Enthusiast
Joined: Apr 2006
Posts: 464
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".
Enthusiast
Joined: Aug 2007
Posts: 2
From: Newport Beach, CA
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?
. 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?
Pretty Darn Active Enthusiast
Joined: Nov 2005
Posts: 253
From: Frisco, Tx
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.
