2007-08-21 08:04:59 · 3 answers · asked by K B 1 in Cars & Transportation ➔ Buying & Selling
There is a tax rebate for buying a new hybrid, but that's all. Additionally, the rebate is being phased out for Toyota and Lexus hybrids. Right now it's only one-quarter what it used to be, and as of October 1st 2007 there will no longer be any rebate for Toyota and Lexus hybrids.
2007-08-22 08:39:25 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You don't get a rebate, you get a credit. It is only good for the amount of taxes you owe, up to the value of the credit, which is around $3,000 for most of the hybrids. If you don't owe any taxes, you get not credit. And it's only good when you buy the car new, you don't get one every year just for owning the car.
2007-08-22 17:46:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No. There are tax credits if you buy the car new, but there are no tax benefits for just owning one (outside of the better fuel economy, which should be reason enough).
2007-08-21 17:57:46 · answer #3 · answered by nevergonnaletyoudown 4 · 0⤊ 0⤋