06 Civic Hybrid on the Honda web-site
#1
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06 Civic Hybrid on the Honda web-site
--->>HONDA
Civic sedan w/AT is $19,060 + 550 = $19,610
So the hybrid costs $2,790 more than the sedan w/AT.
If you want a MT (not availble on a Hybrid) but costing $800 less than AT civic. So Sedan MT civic costs $3,590 less than the Hybrid.
You'll never make your money back in gas savings.
However I don't know how the tax credit/deduction works...
Civic sedan w/AT is $19,060 + 550 = $19,610
So the hybrid costs $2,790 more than the sedan w/AT.
If you want a MT (not availble on a Hybrid) but costing $800 less than AT civic. So Sedan MT civic costs $3,590 less than the Hybrid.
You'll never make your money back in gas savings.
However I don't know how the tax credit/deduction works...
#3
Originally Posted by rai,Oct 16 2005, 01:27 PM
However I don't know how the tax credit/deduction works...
Federal Tax Credits for Advanced Vehicles: On August 8, President Bush signed the comprehensive energy bill into law. Included were new tax credits for advanced vehicle technologies ranging from $250 to $3,400 depending on the vehicle's level of fuel economy improvement. For a limited time, quality hybrids like the Honda Civic Hybrid, Toyota Prius or Ford Escape Hybrid will qualify for tax credits in the range of $1,700-$3,150. The tax credits will be available beginning on January 1, 2006 and will be available through December 31, 2010, though they will expire earlier for the most popular hybrids. The full tax credits will be available until a manufacturer reaches 60,000 vehicles sold (60,000 for Toyota, 60,000 for Ford, etc.). Once a manufacturer has sold 60,000 vehicles, a one-year "phase out" will begin after the next complete calendar quarter; 50% of the credit will be available for that manufacturer's hybrids in the first two quarters of the phaseout period and 25% in the final two quarters. UCS estimates the following credits for each hybrid vehicle currently sold:
HEV Model Emissions Rating Tax Credit
2005 Toyota Prius Bin 3 $3,150
2005 Honda Insight (automatic) Bin 5 $1,450
2005 Honda Insight (manual) Bin 9 $0
2005 Honda Civic Hybrid (automatic) Bin 2 $1,700
2005 Honda Civic Hybrid (manual 5-speed) Bin 2 $1,700
2005 Honda Civic Hybrid (lean burn, automatic) Bin 9 $0
2005 Honda Civic Hybrid (lean burn, manual 5-speed) Bin 9 $0
2006 Honda Civic Hybrid TBD* $2,100-$2,350*
2005 Honda Accord Hybrid Bin 5 $650
2005 Ford Escape Hybrid (front wheel drive) Bin 4 $2,600
2005 Ford Escape Hybrid (four wheel drive) Bin 4 $1,950
2006 Mercury Mariner Hybrid (four wheel drive) Bin 5 $1,950
2006 Toyota Highlander Hybrid (front wheel drive) Bin 3 $1,950
2006 Toyota Highlander Hybrid (four wheel drive) Bin 3 $2,200
2006 Lexus RX-400h (four wheel drive) Bin 3 $2,200
* '06 Civic Hybrid is expected to be a better than Bin 5 emissions standard. Credit amount is estimate only pending the official release of vehicle details.
I cannot find the details but the bill says this about the calculation:
"Hybrid vehicles and advanced lean-burn technology vehicles: The amount of credit is the sum of two components: a fuel economy credit amount that varies with the rated fuel economy of the vehicle compared to a 2002 model year standard and a conservation credit based on the estimated lifetime fuel savings of a qualifying vehicle compared to a comparable 2002 model year vehicle."
#5
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Originally Posted by cdelena,Oct 16 2005, 01:07 PM
If the web reporting can be believed the tax credit is a great deal..
Is this a check you get or a deduction off your taxes? If it's a deduction that's only like 33% of the amount. Also is this subject to phase-out if you make a lot of money or if you pay AMT?
#7
Originally Posted by rai,Oct 16 2005, 03:28 PM
still don't understand.
Is this a check you get or a deduction off your taxes? If it's a deduction that's only like 33% of the amount. Also is this subject to phase-out if you make a lot of money or if you pay AMT?
Is this a check you get or a deduction off your taxes? If it's a deduction that's only like 33% of the amount. Also is this subject to phase-out if you make a lot of money or if you pay AMT?
I don't know tax regulations well enough to coment on the impact regarding AMT.
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#9
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I'll have to say this tax incentive doesn't make a lot of sense. If it's to lure people into buying, or to increase sales of them, why the phase out or cap to 60k units?