Has tax credit ended for TCH?
Thread Starter
|
Pretty Darn Active Enthusiast
Joined: Nov 2007
Posts: 322
From: Rhode Island
Re: Has tax credit ended for TCH?
thanks David.
Ridiculously Active Enthusiast
Joined: Nov 2007
Posts: 2,051
From: New Jersey
Re: Has tax credit ended for TCH?
Federal tax credits for these cars are based upon their popularity. The more they sell, the quicker the credit goes away.
Here was the Camry's schedule
Here was the Camry's schedule
* Expected U.S. tax credit is $2,600 for purchases prior to September 30, 2006. Taxpayers may claim 50 percent of the credit, $1,300, between October 1, 2006 and March 31, 2007 and 25 percent of the credit, $650, for the fourth and fifth calendar quarters (April to September 2007). No credit is allowed after the fifth quarter.[6][7]
Pretty Darn Active Enthusiast
Joined: Nov 2007
Posts: 255
From: Raleigh,NC
Re: Has tax credit ended for TCH?
Yes.............as posted above the federal tax credit for Hybrid Toyota's ended on 30 September 2007. That was the phase out period with the $650 credit. The period you had to purchase a Toyota hybrid was from April 1st 2007 until 30 Sept. Ford and other hybrids still offer incentive, but Toyota has been in the Hybrid market since model year 2000 and has sold 60,000 of them now. I bought mine in August and got the $650 credit.
