When was the LAST time a dealer didn't try to screw you--and everyone else--on trades for new vehicles?I think you might write off a dealer. The outfit I bought mine from would hit me with a 3,000 dollar loss even on a trade in for a standard Highlander.
My car has 9,000 miles on it, is pristine and never out of the garage overnight.
Something they dreamed up like a "blue-book"
Um..... The Oregon credit must be repaid if you sell your Prius within 3 years of buying it. Meaning you can't be claiming the credit on those 5 Priuses; only on the one you keep.amped said:I've run a buy/sell program since 11/2003. My inbound 2006, due early 11/2005, will be the fifth Prius I've owned. Counting Oregon and Federal tax incentives, cheap TT&L here (~$65/yr.), and selling below market (but for more than paid), I've made enough net profit on the other four to pay cash for the 2006. It's a plan I laid out in detail two years ago on PriusChat. Search there for the nuts and bolts. A free Craigslist ad and the "old" Prius is down the road in an hour. I'm getting addicted to the new Prius smell.
That would be news to my tax attorney, an enrolled agent. He's advised that my holding period meets that envisioned by the "intent to sell" clause. Mind linking the chapter, title, verse you're referencing with those specific holding periods? Here's a few links to the law with no mention of those time frames. This isn't meant as legal advice, I'm not an attorney.Um..... The Oregon credit must be repaid if you sell your Prius within 3 years of buying it. Meaning you can't be claiming the credit on those 5 Priuses; only on the one you keep.
And the federal deduction is similar. (At least with Oregon's credit, it's easy, you repay $1500. With the fed deduction, you have to recalculate your taxes without the deduction, and pay the difference.) In fact, it is a violation of tax law to take the federal deduction on a car that you only intended to resell. (PDF.)