GSXOTIC

iTrader: (6)

Any input??? Want to take advantage of that single occupancy carpool registration. CA will issue only 75,000 sticker....

jrock65

If you buy it, buy it very soon after 01/01/2006. You might be able to get up to a $3,400 tax credit.

That's a credit, not a deduction.

GSXOTIC

iTrader: (6)

Under prior law, purchasers of hybrid or other clean fuel vehicles were entitled to a deduction of up to $2,000. The new law provides a substantially higher credit. The credit applies to vehicles placed in service beginning January 1, 2006. The law repeals the deduction as of the same date.

Impact. Because a tax credit is worth more than a deduction, the new law provides a much greater incentive to purchase a hybrid car or other alternative fuel vehicle. Taxpayers should consider delaying a planned purchase in 2005 until 2006.

Quote from Energy Tax Incentives Act of 2005

rominl

iTrader: (4)

that's a new law or what? right now in CA it's only 2000 tax reduction i believe. 3400 tax credit that's a lot of money

GSXOTIC

iTrader: (6)

for those of you who are interested and would like to read more, you can check the Internal Revenue Code SEC. 30B. ALTERNATIVE MOTOR VEHICLE CREDIT.

but if i defer until next year, it will probably destroy the purpose of getting those stickers (probably gone by then, because currently CA has roughly 50,000 register hybrid car - source from news)

rominl

iTrader: (4)

mark please check email

so basically if you get it now, youan get the sticker, but only 2000 tax reduction. however if you get it then, you get 3400 tax credit, but the stickers will most likely all gone (which i think so too)?

man...

GSXOTIC

iTrader: (6)

For Hybrids vehicles. The credit for hybrids is the sum of two components: a fuel economy credit that varies with the vehicle's rated fuel economy, and a conservation credit based on the vehicle's estimated lifetime fuel savings.

The fuel economy credit is $400 for a car or light truck that gets 25 to 50 percent greater mileage than the comparable 2002 model, $1,600 for a car that gets double the 2002 mileage, and $2,400 for a car that gets 2.5 times the 2002 mileage. The conservation credit ranges from $250 to $1,000. For hybrid vehicles other than cars and light trucks, the credit amount is based on a percentage of the qualified incremental hybrid cost.

So if you combine the highest 2400 for fuel economy credit and 1000 for conservation credit, you can get "up to" $3400.

I am not sure Prius fall into what group yet. Will do more research.

XeroK00L

Wow...very interesting new laws. Toyota will never be able to produce enough of those hybrids. $3400 is a lot, more than justify the premium of the hybrids over their conventional siblings. Kudos to the government for doing this right.

alexulan

did you see the article on yahoo?
Some electrical engineering from Bay Area added $3,000 worth of extra battires to his Pirus and made an additional 20 mpg.

couldn't find the yahoo link
http://www.usatoday.com/tech/product...inkering_x.htm

XeroK00L

Yeah...but plugged-in hybrids, like pure-electric cars, are only good for commuters and short trips. A better mod for hybrid cars would be to increase the capacity and power of the existing batteries by either replacing them with higher-grade batteries and/or adding extra batteries in parallel (for capacity) and in serial (for power). Replacing electric motors with more efficient or higher-powered ones may be possible too but will be much more costly.

rominl

iTrader: (4)

so i suppose there is a chart for the conservation ratings huh? i suppose the prius shoudl be pretty high?

and yeah, i kinda doubt if the prius has more than 2.5 times the comparison for 02, that's gotta be a very high gas mileage

Lexy GS430

Those prius are awesome for a hybrid, go for it man.

bitkahuna

iTrader: (20)

I hear the Prius is a bit 'funky' to drive - if I was in the market for a hybrid (I'm not), I think an RX400h would be high on the list of possibilities.

GSXOTIC

iTrader: (6)

Trust me, if it's not because RX400h did not achieve the mandatory 45mpg to allow single occupancy on the carpool lane, I would say myself is a proud owner of it already.

RA40

iTrader: (6)

The tax incentive aside...I say get it

I had one as a loaner for 2 days and the experience driving it For an around town car for errands and shopping, I thought it very capable. I don't recall the exact miles without digging up the paper work...something like 180 miles. When it came time to top off the gas, it took almost 5 gallons... That was one of the more pleasurable stops at a gas station.