| These days, there is a rise in new fuel-efficient hybrid | | | | WD Hybrid: $2,600 2007 GMC Sierra (2WD): $250.00 |
| car products for sale. Due to this rise the government | | | | 2007 GMC Sierra (4WD): $650.00 2007 Honda |
| is compelled to apply taxes. Those who are planning | | | | Accord Hybrid AT: $1,300 2007 Honda Accord Hybrid |
| on buying a hybrid car should not be at a loss though. | | | | Navi AT: $1,300 2007 Honda Civic GX compressed |
| The Internal Revenue Service has already legitimized a | | | | natural gas vehicle: $4,000 2007 Honda Civic Hybrid |
| handful of hybrid car brands and models for a tax | | | | CVT: $2,100 2007 Lexus GS 450h: $1,550 2007 Lexus |
| credit. This may be a pretty good offer for those | | | | RX 400h 2WD and 4WD: $2,200 2007 Mercury |
| planning on buying a hybrid car, and it could be one of | | | | Mariner 4 WD Hybrid: $1,950 2007 Nissan Altima |
| the best incentives initiated so far. | | | | Hybrid: $2,350 2007 Saturn Aura Green Line: $1,300 |
| What Tax Credit Is | | | | 2007 Saturn Vue Green Line: $650 2007 Toyota |
| If you purchased a hybrid car on or after January 1, | | | | Camry Hybrid: $2,600 2007 Toyota Highlander Hybrid |
| 2006, your purchase may be eligible for a tax credit | | | | 2WD and 4WD: $2,600 2007 Toyota Prius: $3,150 |
| that can amount to $400 to $3,400. The amounts vary | | | | New Cars Only |
| depending on how the fuel economy goes. Conversely, | | | | The government may offer a tax credit for hybrid |
| the tax credit may only be temporary because it also | | | | cars, but limitations still apply. For instance, only hybrid |
| relies on whether new hybrid cars and other cars are | | | | cars that are new are qualified for a tax credit. When |
| in demand. This suggests that tax credits could last | | | | a buyer purchases a hybrid car, it must not be a used |
| just a short period of time whenever manufacturers | | | | car. Furthermore, hybrid cars that have been |
| arrive at a certain mark in their car sales. Apparently, | | | | purchased by the buyer cannot be sold again. You |
| hybrid car brands that aren't as popular will not be | | | | must buy a hybrid car only for personal or business |
| greatly affected if the number of sales does not | | | | use, and not for any other purpose. |
| increase too quickly. | | | | The thing about acquiring the tax credit for hybrid car |
| Models That Are Qualified | | | | goods is that your income tax liability will be lessened. |
| The IRS has produced a list of all hybrid cars that | | | | Furthermore, any surplus cannot be passed on to the |
| have the possibility of being qualified for a tax credit. | | | | succeeding year. What all this information means is |
| This list is comprised of automobiles that are sold after | | | | that, the government is practically encouraging the |
| January 1, 2006 as well as those payable in 2008. | | | | purchase of automobiles that are more energy-saving |
| Relevant tax credit totals are listed in the following | | | | and environmentally friendly by giving buyers the |
| document: | | | | benefit of saving money on gas. Additionally, the |
| 2007 Chevrolet Silverado (2WD): $250.00 2007 | | | | government is allowing buyers of hybrid cars to save |
| Chevrolet Silverado (4WD): $650.00 2007 Ford | | | | through tax breaks. |
| Escape 4 WD Hybrid: $1,950 2007 Ford Escape Front | | | | |