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Lexus RX 450h Prices Paid and Buying Experience

551 messages,  Last post on Nov 26, 2009 at 4:18 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

What is this discussion about? Lexus RX 400h, Lexus RX 450h, Hybrid Cars, SUV


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#111 of 551
Re: Any recent prices info? [schan1w] by ctodd
Jan 15, 2006 (12:36 pm)
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Replying to: schan1w (Jan 04, 2006 7:36 am)

I bought a fully loaded RX400h just before year end. I think Lexus had given their dealers some incentive to sell a lot in the last month of the year. The MSRP was about $52,700 and I paid $49,000, or a discount of $3700. I bought from Longo Lexus in El Monte Calif. They delivered the car to me in the San Francisco area; they drove it up and the driver flew home at no extra charge.
#112 of 551
Re: Lexus RX 400H Leasing [mobym] by life98_98
Jan 24, 2006 (7:32 pm)
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Replying to: mobym (Dec 12, 2005 6:46 pm)

My deal was with Ray Catena lexus in new jersey
#113 of 551
$3,900 off MSRP in LV by lexuslv
Feb 13, 2006 (1:04 pm)
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Lexus of LV is offering $3,500 off of MSRP on the RX400h via their internet sales dept (request a dealer quote thru edmunds.com). Keep it in your back pocket and press for the best deal. The onsite salesman will start you off at an $1,800 discount. Then pull out the email to get yourself even more. I got $3,900 off (lease) after showing my distaste for the "game." Nav, Mark Levinson, etc., MSRP $49,988.
 
Separately, does anyone know if you can get the hybrid tax credit if you lease (36 mos)?
#114 of 551
Hybrid Tax Credit in '06 by lexuslv
Feb 13, 2006 (1:52 pm)
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Answering my own question...
 
YES, both purchases and leases qualify for the tax credit. The credit for RX400h is estimated to be $2,200. (http://www.leaseguide.com/Articles/hybrid-tax.htm )
 
BTW- I was very reluctant to go Lexus, but I LOVE my RX400h. It rides SO much better than the RX330 thanks to the ECVT. It feels like it is floating. I have an Audi with CVT and hated the RX330's rough and clumsy ride.
 
BTW2- The Range Rover Sport was my 1st choice, but decided to keep an open mind. Glad I did b/c it saved me $17K. Plus, I bought myself 36 mos to wait for the RRS to come in a diesel or hybrid.
#115 of 551
Re: Hybrid Tax Credit in '06 [lexuslv] by kyfdx HOST
Feb 13, 2006 (5:36 pm)
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Replying to: lexuslv (Feb 13, 2006 1:52 pm)

While not a tax expert by any means.. everything I've read suggests that you can't get the tax credit, if you lease... as the car is not in your name..
 
regards,
kyfdx
Host-Prices Paid Forums
#116 of 551
Re: Hybrid Tax Credit in '06 [lexuslv] by dondilyon
Feb 14, 2006 (8:37 am)
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Replying to: lexuslv (Feb 13, 2006 1:52 pm)

Unfortunately, you are wrong. The 2006 tax credit can be taken ONLY if you purchase a qualifying vehicle. If you lease a car from a dealer, you CANNOT take the tax credit. I looked at the article you mention in your e-mail and, based on how it was written, I can understand why you thought your lease would apply. However, the Internal Revenue Service's guidance states as follows: The purchaser may claim a credit in the certified amount with respect to the vehicle if the following requirements are satisfied: (1) The vehicle is placed in service by the taxpayer after December 31, 2005, and is purchased on or before December 31, 2010. (2) The original use of the vehicle commences with the taxpayer.(3) The vehicle is acquired for use or lease by the taxpayer, and not
for resale.(4) The vehicle is used predominantly in the United States." Thus, it would appear that you can purchase a qualifying car and take the credit even if you lease it out to someone else BUT you must be the owner of the car (not the lessee) to get the credit.
#117 of 551
Re: Hybrid Tax Credit in '06 [dondilyon] by stevedebi
Feb 14, 2006 (2:11 pm)
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Replying to: dondilyon (Feb 14, 2006 8:37 am)

"Thus, it would appear that you can purchase a qualifying car and take the credit even if you lease it out to someone else BUT you must be the owner of the car (not the lessee) to get the credit."
 
I don't see it that way; it appears to me that item (3) indicates that it is the taxpayer who is getting the lease:
 
The vehicle is acquired for use or lease by the taxpayer, and not
for resale.
 
I would consult a professional tax consultant on this one...
#118 of 551
Re: Hybrid Tax Credit in '06 [stevedebi] by dondilyon
Feb 14, 2006 (3:02 pm)
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Replying to: stevedebi (Feb 14, 2006 2:11 pm)

Item (3) does not stand by itself - you have to read it in context with the start of the sentence which states "The PURCHASER may claim a credit in the certified amount with respect to the vehicle if the following requirements are satisfied....(3) The vehicle is acquired for use or lease by the taxpayer, and not for resale" Thus, you have to be the PURCHASER of the car AND also satisy the items set forth in the IRS's guidance to take advantage of the credit. The IRS website has press releases and memos that clearly set forth what this provision means. There are also several sites with articles written by tax experts stating the same thing. If I get a chance, I'll post some links.
#119 of 551
Re: Hybrid Tax Credit in '06 [stevedebi] by dondilyon
Feb 14, 2006 (4:09 pm)
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Replying to: stevedebi (Feb 14, 2006 2:11 pm)

Here are some links that might be helpful to those of you wondering whether the 2006 hybrid vehicle tax credit applies to you;
1)http://www.irs.gov/newsroom/article/0,,id=153172,00.html
This is the IRS's site and the above link goes to a recent press release.
2)http://taxes.about.com/od/deductionscredits/a/hybridtaxcredit.htm This article is written by William Perez, a tax professional who previously worked for the IRS and now works for a private CPA firm. He states in his article "There are three criteria to qualify for the hybrid tax credit:
1. Purchase a qualifying vehicle in 2006.
2. Purchase the vehicle new, not used.
3. The vehicle must be used for your own personal or business use. The vehicle should not be bought with the intention of re-selling it."
 
3)http://www.energytaxincentives.org/tiap-passenger-vehicles.html This is the Tax Incentives Assistance Project (TIAP) site. TIAP is a coalition of public interest nonprofit groups, government agencies, and other organizations in the energy efficiency field. In their FAQs section they state: " Who is eligible for the tax credits? Buyers and lessors of qualifying vehicles. For purchases by tax-exempt entities, however, it is the seller who is eligible for the tax credit. The benefit of the vehicle credit may be reduced or eliminated for taxpayers subject to the Alternative Minimum Tax; IRS will address this issue in future guidance."
 
It is, of course, important to confirm this information with your own tax advisor. AND - the IRS might change its mind before the end of 2006 to allow lessees of hybrid vehicles take advantage of the credit.
#120 of 551
Re: Hybrid Tax Credit in '06 [dondilyon] by gagrice
Feb 14, 2006 (4:25 pm)
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Replying to: dondilyon (Feb 14, 2006 4:09 pm)

I might add that if you keep the vehicle less than 3 years you may be subject to repaying some of the incentive. At least that was part of the former incentive.
 
If any of these conditions change within 3 years of purchase, you may have to return some of the money saved by the deduction.
 
http://www.fueleconomy.gov/feg/tax_hybrid.shtml

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