Honda Hybrids Now Added to the Official Hybrid Car Tax Credit List:

[tigerhonaker]

Hybrid Cars

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Honda Hybrids Now Added to the Official Hybrid Car Tax Credit List
Since I purchased my used Honda hybrid way back in 2003, I never got any hybrid car tax breaks. But for those of you who have purchased, or will purchase a Honda hybrid in 2006, the IRS released official Hybrid Car Tax Credit amounts associated with each model.

There are winners and there are losers. The 5-speed, manual transmission Honda Insight didn't even make the list since it will not be eligible for any Hybrid Car Tax Credit.

The 2006 Honda Civic Hybrid did the best of any Honda hybrid with a $2100 Hybrid Car Tax Credit.

http://hybridcars.about.com/b/a/257663.htm?nl=1

Don't forget the hybrid car tax credit is only for cars purchased after December 31, 2005. Prior to that, taxpayers were only be eligible for the hybrid car tax deduction.
A. Here are the exact numbers the government has released so far:
Hybrid Car Tax Credit:

• 2006 Ford Escape Hybrid Front WD $2,600
• 2006 Ford Escape Hybrid 4 WD $1,950
• 2005 Honda Accord Hybrid $650.00
• 2006 Honda Accord Hybrid $1,300.00*
• 2005 Honda Civic Hybrid (SULEV) MT $1,700.00
• 2005 Honda Civic Hybrid (SULEV) CVT $1,700.00
• 2006 Honda Civic Hybrid CVT $2,100.00
• 2005 Honda Insight CVT $1,450.00
• 2006 Honda Insight CVT $1,450.00
• 2007 Lexus GS 450h $1,550
• 2006 Lexus RX400h 2WD $2200
• 2006 Lexus RX400h 4WD $2200
• 2006 Mercury Mariner Hybrid 4 WD $1,950
• 2007 Toyota Camry Hybrid $2,600
• 2006 Toyota Highlander 4WD Hybrid $2600
• 2006 Toyota Highlander 2WD Hybrid $2600
• 2005 Toyota Prius $3150
• 2006 Toyota Prius $3150

*2006 Honda Accord Hybrid without updated control calibration qualifies for a credit amount of $650.
** The 5-speed manual transmission Honda Insight is not eligible for the tax credit since it does not meet the emissions threshold set by the government to receive the hybrid car tax credit. (The numbers were released in these IRS documents here and here.

[ralph_dog]

Quote["Don't forget the hybrid car tax credit is only for cars purchased after December 31, 2005. Prior to that, taxpayers were only be eligible for the .."]

But not for previously owned hybrids in the US except for maybe some Canadian provinces..

[Kyo]

I know this has been explained before on GH.com ... and I thought I understood, but I talked to someone in person and they have me confused again.

My question is what exactly is the Tax Credit? I will use an example. Let's say I can get $1000 back on my return next year. So, if I buy a 06 HCH new, would I then get 3100 back? or is it negated because I am already getting money? I know some who pay in extra every check to get extra back (an extra 20-40 a week is a 1-2 grand in a year!). Some have told me you get nothing if you are getting money back anyway and some have said it is in addition to the amount you would get anyway. Could someone please clarify this for me?

[tbaleno]

It is in addition. Its the same thing as the child tax credit except your car is your child and apparantly worth more to society

[Kyo]

Thanks very much for the clarification, I will now ignore anyone who tries to tell me otherwise

Are the credits staying the same for next year or dropping? I am really only concerned with the HCH, because I might change my current attitude of trading for a used Insight and just go with a HCH II before the end of the year if it drops a lot, if not then I have plenty of time to get one sometime next year after paying off a Insight And maybe, just maybe ... since they are ending production of the Insight for the 06 model, they may use the Insight time, effort, and space to produce some IMASs, with the latest IMA motor, battery, etc a hybrid with a standard, and re-establish the mark for mpg (it would also help them meet their company average easier ... what was it 90+ mpg?) ... I can dream can't I? (Honda - Power of Dreams) That is what I am secretly holding out for (that and saving up some down payment money hehe). My head is always in the clouds

[greenman456]

How many people really think that owning a hybrid car will help the environment ? I mean look at all these hybrids here http://www.topgreencars.com/ would owning one really save a tree ?

[xcel]

Hi Greenman456:

___Hybrids are not just about saving the planet today, they are more about extending the time to when we can and will drive something that will save the planet tomorrow vs. any number of other poor choice FE vehicles most purchase for whatever reason? If you were to purchase today, would you buy a real world 15 mpg Ford F-150 or a 45 mpg HCH-II? If you don’t drive, god bless you!

___Good Luck

___Wayne

[Chuck]

Originally Posted by greenman456

How many people really think that owning a hybrid car will help the environment ? I mean look at all these hybrids here http://www.topgreencars.com/ would owning one really save a tree ?

It's part of a solution to have a sustainable environment and economy - homes and workplaces need to be addressed too.