Civic Hybrid Incentives

[NYDR27]

Does anyone know if the IRS is still offering that $2000 incentive for buying a hybrid? I read somewhere that the incentive would go away after Honda sold a certain number of them. Also, doesn anyone know if states (specifically NY) offer additional incentives? Thanks.

[twinsnails]

I don't know if Honda has met its vehicle cap (Toyota did last year if I'm not mistaken). However, I have found this website to be pretty useful & accurate (for example, I learned about free parking in certain cities in my state)...you need to do a bit more research to make sure everything is current. This is the link for NY hybrid incentives:

http://go.ucsusa.org/hybridcenter/incentives.cfm#NY

[duk]

for Canadians:
http://www.tc.gc.ca/programs/environ...pplication.htm
Expecting my $2000.00 very soon!

[GoHuskies]

Honda has passed a point where the max is 1200 or so I believe.

You can check the .gov sites to find out.

Toyota passed the cap in Sept, there are no longer tax rebates on the Prius.

[jrod81]

we bought a hybrid on sat. and was promised $2100 on the tax credit... here is my question though, if i owe nothing can i get $2100 cash back from the gov?

[giantquesadilla]

Originally Posted by jrod81

we bought a hybrid on sat. and was promised $2100 on the tax credit... here is my question though, if i owe nothing can i get $2100 cash back from the gov?

No. It is a credit, not a refund. It will only affect what you owe. Sucks, I know.

I posted this in another thread, but it relates to this one as well:

TOYOTA HYBRID TAX CREDIT EXPIRES

The Internal Revenue Service has discontinued the federal tax credits for Toyota hybrid vehicles—including the flagship Prius—as of Oct. 1, 2007. Toyota Motor Corporation hit a legal cap in the number of vehicles sold that can offer the credit. Only hybrids purchased before the Oct. 1 deadline are now eligible for the incentive.

According to IRS rules, tax credits for new hybrid vehicles phase out when an automaker sells 60,000 hybrids. Toyota hit the magic number last summer, which initiated the beginning of the process.

Honda recently reached the mark of 60,000 hybrids sold, and will now start their phase-out next year.

GM, Ford, and Nissan are not expected to reach cap before 2009 when the incentive laws will be reconsidered or entirely discontinued.

[wrxsti03]

I got a 1/4 discount on my loan (from a already good rate) and I also got a discount on my insurance through Amica just because the vehicle was a Hybrid.

So check these sources as well, as I was not aware of the additional saving when going through the purchase process.

[twinsnails]

An additional incentive would be the higher resale value you can achieve if you get carpool lane access stickers in a state that offers such program, and assuming the stickers already have or will be accounted for in a short while...here in Cali they've been gone for awhile (at least for the hybrid vehicles that meet the requirements).

[jrod81]

if i sold my hybrid would the incentive be transferrable?

[giantquesadilla]

No. It is to the first owner only and does not apply to leases.

[NYDR27]

Originally Posted by twinsnails

An additional incentive would be the higher resale value you can achieve if you get carpool lane access stickers in a state that offers such program, and assuming the stickers already have or will be accounted for in a short while...here in Cali they've been gone for awhile (at least for the hybrid vehicles that meet the requirements).

I got the NY State Clean Pass Stickers for that reason but I think they're non-transferable.

[giantquesadilla]

Yah. California already gave out 80,000 and there are no legislations to make more. They expire in 2012, unless they are extended again (which there are no legislations pending).