[crewdog]

Thanks to all the members for the posts in this forum; it helped to make up our minds to order a Red Pkg 4, still on the ship or port. The buying experience at Marietta Toyota in Georgia was easy, especially working through the BJ's Warehouse auto buying program. The vehicle should be ready for delivery by May 20.

What cinched the deal for us was pulling up next to a Prius in traffic and having a very positive conversation with the owner.

Does anyone know the status of the tax credit for the Prius? Has the 60000 limit been reached yet? My understanding is that the letter is given to the customer at delivery.

 

[DanMan32]

Nope, 60K has not been reached. I understand its getting close though. I believe Toyota and Lexus have sold 50K. See MRV's sticky post.

But even if 60K is reached, you have that quarter and the following quarter to purchase the car and get the full deduction. So if Toyota/Lexus sold the 60k'th car today, you would have until the end of September to close the deal.

I'm hoping for everyone that Toyota/Lexus don't sell the 60kth car until July 1st.

 

[mrv]

Nope, 60K has not been reached. I understand its getting close though. I believe Toyota and Lexus have sold 50K. See MRV's sticky post.

But even if 60K is reached, you have that quarter and the following quarter to purchase the car and get the full deduction. So if Toyota/Lexus sold the 60k'th car today, you would have until the end of September to close the deal.

I'm hoping for everyone that Toyota/Lexus don't sell the 60kth car until July 1st.

http://www.priusonline.com/viewtopic.php?t=7185 for the US sales figures (over 50,000 in April, and I'm guessing it'll hit 60,000 by end of May, early June at latest...)

and it's no longer a tax deduction, but a full tax credit. But yes, it's the quarter after the quarter that the 60,000 hybrid from a manufacturer is sold for the full credit amount. After that, it's 50% of the full credit amount for the next 2 quarters, then 25 % of the full credit amount for the next 2 quarters, then no more tax credit. (assuming no changes in the tax code, anyways.)

More tax info (check for updates) at: http://www.toyota.com/prius/tax.html

[edit to fix quotes]

 

[DanMan32]

I did say deduction, didn't I? I meant credit.