Overhaulin'

Will there be any Federal Tax Credit for the purchase of a new hybrid car(2009 Prius model)?

Thanks for the answers. Can we expect any thing similar in future? Is any one trying to extend that Tax Credit period. Nova, I can understand your feelings, but you can go for a hybrid minivan or a hybrid suv. Govt shd encourage using hybrid vehicles as it reduces gas usage and makes US less dependent on Gulf countries. US already saved 180,000 gallons of gas by using Hybrid vehicles. But still US consumes 400 Million gallon of gas. Dont you think its too high?

Public Comments

1. I believe that all Federal tax credits for the Prius have expired as of November 2007.
2. Only Toyotas purchased before 9/30/2007 still qualified for a possible $787.50 credit. Hondas are also phasing out. This credit was based on the first 60,000 cars sold by each manufacturer. Only 2 makers are affected (they've already sold their 60,000), so the credit is still out there on everybody else's car. So no, no extension.
3. Only if you can prove you haven't been driving it around at 90mph and getting worse mileage than a regular gas only vehicle of similar size.
4. This IRS web site shows the qualified cars and credit amounts for all 2008 Model Year Hybrid Vehicles: http://www.irs.gov/irs/article/0,,id=176409,00.html (There's only 1 reference to the 2009 model year in the chart. Who knows what will occur that far in the future? Depends on what happens in the upcoming elections.)
5. I hope that credit is dead and buried. Sorry - why should I through the government give you money for buying your car. I don't get help with mine and due to my family size I can't fit in a teensy weensy little car like a prius.