Hello all,
I am new to the forum and hopefully a new Prius owner soon. Part of my decision process in what kind of Prius (new or used) and when to get it (tax year 2005 or early 2006) is partially dependant on the tax advantages. With this in mind, I have a couple of questions:
1) Are tax credits/deduction only available on new vehicles? Or can one apply for them when purchasing a used vehicle?
2) From what I understand, in tax year 2005 there is a flat $2000 tax DEDUCTION. Meanwhile in 2006 there is a tax CREDIT (the size of which is dependant on what you buy and when) I am correct in assuming this?
Thanks for the help with this in advance. I am getting more and more excited about getting a Prius and simply can't wait! (might not be able to wait for 2006 at this rate).
Snowdall
I am new to the forum and hopefully a new Prius owner soon. Part of my decision process in what kind of Prius (new or used) and when to get it (tax year 2005 or early 2006) is partially dependant on the tax advantages. With this in mind, I have a couple of questions:
1) Are tax credits/deduction only available on new vehicles? Or can one apply for them when purchasing a used vehicle?
2) From what I understand, in tax year 2005 there is a flat $2000 tax DEDUCTION. Meanwhile in 2006 there is a tax CREDIT (the size of which is dependant on what you buy and when) I am correct in assuming this?
Thanks for the help with this in advance. I am getting more and more excited about getting a Prius and simply can't wait! (might not be able to wait for 2006 at this rate).
Snowdall