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Lexus RX 450h Prices Paid and Buying Experience

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

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

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#119 of 551 Re: Hybrid Tax Credit in '06 [stevedebi] by dondilyon Feb 14, 2006 (4:09 pm)
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. Replies to this message: gagrice (Feb 14, 2006 4:25 pm)
#120 of 551 Re: Hybrid Tax Credit in '06 [dondilyon] by gagrice Feb 14, 2006 (4:25 pm)
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
#121 of 551 Re: Hybrid Tax Credit in '06 [dondilyon] by stevedebi Feb 15, 2006 (9:38 am)
Replying to: dondilyon (Feb 14, 2006 3:02 pm) "tem (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..."   I understand your argument, and I did read the entire context the first time. However, the taxpayer is the person applying for the tax credit, and the taxpayer has to be the leasee, so the only way I see it making sense is if it applies to both purchases and leases. It would make no sense to have the Purchaser someone other than the person filing the taxes (the taxpayer). Typical IRS poorly written guidelines. I stand by my interpretation, but I am not a tax professional.   Anyway, as I said earlier, check with your tax professional. Replies to this message: lexuslv (Feb 28, 2006 9:49 pm)
#122 of 551 Lexus says... by kyfdx HOST Feb 15, 2006 (9:58 am)
...on their website... that leasers can't take the credit.. Of course, they could be wrong...   Individual purchasers of a Lexus RX 400h ... Replies to this message: stevedebi (Feb 15, 2006 1:37 pm) dondilyon (Feb 16, 2006 7:58 am) stevedebi (Feb 16, 2006 9:23 am)
#123 of 551 Re: Lexus says... [kyfdx] by stevedebi Feb 15, 2006 (1:37 pm)
Replying to: kyfdx (Feb 15, 2006 9:58 am) "...on their website... that leasers can't take the credit.. Of course, they could be wrong... "   US Government DOE website says you can lease. Who knows?   http://www.energy.gov/taxbreaks.htm   "Individuals and businesses who buy or lease a new hybrid gas-electric car or truck are eligible for, and can receive, an income tax credit of $250-$3,400 – depending on the fuel economy and the weight of the vehicle. " Replies to this message: dondilyon (Feb 16, 2006 7:58 am) stevedebi (Feb 16, 2006 9:23 am)
#124 of 551 Re: Lexus says... [stevedebi] by dondilyon Feb 16, 2006 (7:58 am)
Replying to: stevedebi (Feb 15, 2006 1:37 pm) The first paragraph of that article states as follows: "The Energy Policy Act of 2005 (EPACT), signed by President Bush on August 8, 2005, offers consumers and businesses federal tax credits beginning in January 2006 for PURCHASING fuel-efficient hybrid-electric vehicles and energy-efficient appliances and products". As I've said before, if you purchase the car you can then lease it and the PURCHASER can take the credit. As you know, the Department of Energy is not the IRS. However, in an effort to correct any confusion for people who visit the DOE's site, I have sent an e-mail to the Secretary of the department advising him of the sentence you cited and asking that they review the IRS's guidance and issue a clearer statement of their position on this matter. Replies to this message: stevedebi (Feb 16, 2006 9:23 am)
#125 of 551 Re: Lexus says... [dondilyon] by stevedebi Feb 16, 2006 (9:23 am)
Replying to: dondilyon (Feb 16, 2006 7:58 am) Yup, the government is speaking out of both sides of it's mouth again - as usual...   However, I don't buy the "Purchase then lease"; I think that the original purchaser has to keep the vehicle. I realize that technically the leasing company owns the vehicle, so you may be correct.   I think my original idea (not mine alone) is the best - consult your tax professional...
#126 of 551 Re: Hybrid Tax Credit in '06 [stevedebi] by lexuslv Feb 28, 2006 (9:49 pm)
Replying to: stevedebi (Feb 15, 2006 9:38 am) Thanks to all for the additional info (and interpretations). I'm sufficiently confused. Will seek advice from a pro at tax time.
#127 of 551 Re: $3,900 off MSRP in LV [lexuslv] by lexuslv Feb 28, 2006 (10:10 pm)
Replying to: lexuslv (Feb 13, 2006 1:04 pm) UPDATE: Lexus is now offering unusually low money (lease) rates on the RX400h (.00146 = 3.5% APR). Rates went down President's Day weekend.   I leased at a substantially higher rate a week prior and Lexus re-wrote the contract without any hesitation. I was WOWed. Again, I wasn't very keen on buying a Lexus, but the 400h has been great and I've been able to take their great customer service to the bank. Replies to this message: safeperfsnowsu (Mar 01, 2006 9:40 pm)
#128 of 551 Re: $3,900 off MSRP in LV [lexuslv] by safeperfsnowsu Mar 01, 2006 (9:40 pm)
Replying to: lexuslv (Feb 28, 2006 10:10 pm) Don't hate me but I just paid 47500 for a fully loaded (had everything except the wood option and tow hitch and 12 miles on the clock)06 400h in the NE. E-mailed dealership on 27th asking for best price. E-mailed me back with 47500 on the 28th or 52and change on the 1st. Wasn't planning to buy so soon but the deal was too goodto pass up. Sat in it and test drove it for about 10mins the 1st time on the 28th came back in to the delaership and signed all the papers and paid. Picked it up today. I was not the most pleasant person to deal with as to be honest I don't like the flashy look of the car that much, nor the way it drives without a lot of torque, and think that the seats are not as comfortable as they might be but the Lexus service rep is true, they are really top notch. I was switching out of a X5 which I love (prices are all ex trade, before trade was even in the picture, but they gave me $500 more than BMW was going to give me on the trade which cut my taxes in half) mainly for environmental reasons, cost savings with the fuel economy, and because I am a pirahia in the pick up line at school with the X5. The 400 is a bit smaller than the X5 and my leg touches the center console where as it didn't on the X5 and the X5 had more comfortable seats also the X5 has better visibility (at 6'4" my eyes are at top of win screen level the drivers seat need to drop another inch or two, anyoe know if that can be done?) but drove it for a hour or so and considering that this car is about 20K less than a new X5 and easily get double the mileage than the X5 it isn't a bad car. Part of it I think is getting used to the electric acceleration vs the off the line torque punch of the X5 but I was able to pull in to traffic from a stand still in the 400 surprisingly well. The ride is very quiet compared to the X5 and the stereo impressive. I still have to figure out how all the systems work but te bottom line is that every minute that i spend in the car I like it more and miss my X5 less. The car is for the wife and is almost a foot shorter and loves it. Looks like I lucked out in spite of myself and i really have to commend the guys at the Lexus dealership, they couldn't have been more accomodating even though they made almost nothing on the car (took a peak at the invoice on the car when the finance manager wa out making copies). A class act and I will be seriously thinking about trading in my 7 series this fall when their big sedan comes out with AWD and hybrid.

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