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  1. #1
    Guest

    Hybrid Tax Break/Credit

    Looking at buying an Escape Hybrid. 2006 models are what are currently selling. The tax breaks I have seen are for the 2005. The new law just signed works for cars sold after 1/1/06, but what if you buy a 2006 in 2005? Ford has been selling 2006 models for some time now. Is there some tax break for 2006 models sold in 2005?

    Thanks
    Mark

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  3. #2
    Guest

    Hybrid Tax Break/Credit

    I 'm wondering the same thing also what's if we buy an 05 hybrid car in 2006, will it be qualified for the new tax credit law ? I remember back in Jan 05, there were many leftover 04 Civic Hybrid - although I am sure the scenary will change for 2006.

  4. #3
    Guest

    Hybrid Tax Break/Credit

    It's the purchase date that matters--not the model year.
    Details here:
    http://www.hybridcars.com/tax-deductions.html

  5. #4
    Guest

    Hybrid Tax Break/Credit

    Not exactly, if this credit is to work like the existing deduction process.

    The purchase date determines the tax year, but the car model has to be "certified" by the IRS.

    I was in a similar situation last tax year: bought an '05 HCH in Nov. 2004 (thus eligible for the maximum tax deduction at that time), but waited until February 2005 before the IRS added the '05 model to its approved list.

  6. #5
    Guest

    Hybrid Tax Break/Credit

    Hi:

    I'm looking into leasing a Lexus hybrid. Does anybody know whether it is still possible to get a prorated tax break on lease payments?
    Thanks,

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