Sep

Last Chance for Toyota Hybrid Tax Credit

Posted by admin Published in Toyota, Car Buying

Due to the popularity of the Toyota Prius hybrid, Sept. 30 will be the final day you can purchase any Toyota or Lexus hybrid and be eligible for a federal tax credit. Even thereupon, that credit will be just 25% of the original credit offered on the Toyota models. After Sept. 30, there will be no tax credit for Toyota or Lexus hybrids.

Other automakers still have healthy tax credits available through Sept. 30, including Honda, on the 2007 Accord and Civic hybrids. The 2008 Ford Escape Hybrid actually gets a better credit than the outgoing 2007 model, which may be tough to find on dealer lots regardless. The 2008, though — along with the similar Mercury Mariner and Mazda Tribute hybrids — has a $3,000 credit on two-wheel-drive

models and a $2,200 credit on four-wheel-drive models. A full list of credits through Sept. 30 can be found below.

In a strange coincidence, popular reverse-auction site Jellyfish will hold a “Smack” sale for a 2007 Toyota Prius tonight at 8 p.m. CST. The auction starts backwards from $25,319 and falls until someone flinches and hits the “buy” button. Just remember, you’d only get to take a $787 off the winning price.

You can view the full list of current tax credits here.

Tax Credits for Fuel-Saving Autos (SmartMoney via Consumerist)