If you are looking to buy a hybrid vehicle, you might have heard about the federal income tax credit for purchasers of those cars and trucks.
The credit, however, begins to phase down and then expire after any given manufacturer has sold 60,000 of its hybrid vehicles.
It also only applies to new, purchased vehicles. If you lease the car, the car dealer/lease company gets the credit.
If a new hybrid purchase is on the horizon, full or partial credits are still available for these 2008 models:
- Chevrolet Malibu Hybrid
- Chevrolet Tahoe Hybrid
- Ford Escape Hybrid
- GMC Yukon Hybrid
- Mazda Tribute Hybrid
- Mercury Mariner Hybrid
- Nissan Altima Hybrid
- Saturn Aura Hybrid
- Saturn Vue Green Line
Toyota and Lexus vehicles are out.
If you buy a Honda Civic Hybrid 2008 model before Dec. 31, you can claim a $525 tax credit.
Looking to buy next year’s model? Only the Ford Escape and Mercury Mariner will qualify for a tax credit.
Get the complete scoop at the Feds’ site here.
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Comments ( 1 Comment )
I remember that when Toyota started hitting the limit they applied to get it extended but I guess it didn’t get approved. I got the tax credit when I purchased my Hybrid Escape but while it was nice it certainly doesn’t cover the cost difference between the standard model and the hybrid. I don’t think most people purchase them with a tax credit in mind so while it was nice to have I don’t think its necessary to extend the program. I would imagine as new hybrid technology comes out there will be tax credits on those vehicles though.
badhuman added these pithy words on
Dec 16 08 at
3:26 pm
