Tax Topic: Honda Civic GX = Highest Tax Credit

[reckedracing]

I was just doing some research on tax credits for hybrid vehicles
apparently after the company sells 60,000 the credit gets reduced
but one vehicle never drops its credit
and it also has the highest credit of any of the vehicle

the honda civic gx, which runs on natural gas
if you're gonna have a large tax bill in 07 and are in the market for a new car you might want to consider this one
you'd need to have natural gas in your home so i'm sure it doesn;t apply to most, but i found it interesting

Did you know that the Civic GX is now on sale at select Honda dealers in California and New York?
The Environmental Protection Agency (EPA) has recognized the natural-gas Civic GX as the cleanest internal-combustion vehicle on Earth. Plus, the California Air Resources Board gave the GX an AT-PZEV emissions rating, which means it's still the "Cleanest on Earth." And right now, consumers in California and New York can buy the Civic GX to use as their everyday vehicle. With a modern, aerodynamic exterior, roomy cabin and ergonomic, supportive seats, the GX has everything you'd expect from a Civic. And because it uses compressed natural gas, the GX achieves remarkable fuel-cost savings, and helps decrease the world's dependence on oil. The Civic GX promises to lead the way to the advancement of fuel-cell vehicles, sooner than you might expect. Civic GX owners can purchase their own home-refueling appliance called Phill, which installs easily to a home gas line. With Phill, GX owners fill up when they come home, instead of having to go to a gas station.

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Model Year 2007

• Chevrolet Silverado 2WD Hybrid Pickup Truck — $250
• Chevrolet Silverado 4WD Hybrid Pickup Truck — $650
• Ford Escape Hybrid 2WD — $2,600
• Ford Escape Hybrid 4WD — $1,950
• GMC Sierra 2WD Hybrid Pickup Truck — $250
• GMC Sierra 4WD Hybrid Pickup Truck — $650
• Honda Accord Hybrid AT — $1,300
• Honda Accord Hybrid Navi AT — $1,300
• Honda Civic GX — $4,000 ††
• Honda Civic Hybrid CVT — $2,100
• Lexus GS 450h — $775†
• Lexus RX 400h 2WD and 4WD — $1,100†
• Mercury Mariner 4WD Hybrid — $1,950
• Nissan Altima Hybrid — $2,350
• Saturn Vue Green Line — $650
• Toyota Camry Hybrid — $1,300†
• Toyota Prius — $1,575†
• Toyota Highlander Hybrid 2WD and 4WD — $1,300†

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[chestercheeto48]

That would be pretty bad ass as long as NG prices don't sky rocket. Also any clue as to what the sticker is for that vehicle or the specs on it?

 

[posol]

specs:
8k more than a normal civic
slow as fuck.
ugly ass wheels

price tag increase will take 12 years at 15k miles a year to make even on at $2.50 a gallon price tag, assuming NG stays where it is.

might as well have just got the regular civic.

 

[reckedracing]

8k more than a regular civic, less the 4k tax credit from feds, dollar for dollar cut on your tax liability, plus anything your state might offer

but the major factor is 1) you can fill up at home, 2) you're driving the cleanest car on the planet

 

[posol]

a 4k cut in liability is not 4k back in your pocket.

hell, my 19k in write offs earned me about 4k off my taxes.

 

[reckedracing]

itemized does not equal credit
check the forms

credit = dollar for dollar reduction of your tax liability

http://www.irs.gov/pub/irs-pdf/f1040.pdf
page 2
line 46-57 is the clincher