Last post on Feb 25, 2013 at 8:28 PM
You are in the Toyota Camry Hybrid
What is this discussion about?
Toyota Camry, Hybrid Cars
#642 of 3214 Re: Hybrid Tax Credit [jrock65]
Apr 05, 2006 (1:28 pm)
The tax credit's main purpose was to spur innovation in the technology. High demand hybrids such as the Prius and Camry Hybrid do not need the tax credit, they will sell well without it.
This is not exactly correct on the part of Toyota and Honda since the technology was already in place since 2001. In the case of the US manufacturers yes this is true.
The purpose of the credit was to reward actual buyers of the vehicles for getting out of older or less efficient gassers and acquire a new more efficient one. The credit doesnt go to the manufacturer it goes to the buyer.
The tax credit of whatever amount doesnt go to the dealers in any way unless the buyer allows it. I understood that last year on the Prius people were paying up to $3000 over sticker in SoCal while people in MD were paying up to $1500 under sticker. Go figure.
Yes I do agree that this is social engineering in that those that refuse to move to more efficient means of transport are paying some amount to those who are willing do so. The Congress and President seem to think this is good for our security and financial well being. It's shifting money from one set of taxpayers to another that's all.
#643 of 3214 Re: Hybrid Tax Credit [kdhspyder]
Apr 05, 2006 (1:57 pm)
I respectfully but completely disagree.
"This is not exactly correct on the part of Toyota and Honda since the technology was already in place since 2001. In the case of the US manufacturers yes this is true."
Just because Toyota and Honda had the technology in place doesn't mean that they can't benefit from more innovation. Both Honda and Toyota hybrid technology still has a lot of room for improvement. But you’re right in that it was mainly for the benefit of US manufacturers.
"The purpose of the credit was to reward actual buyers of the vehicles for getting out of older or less efficient gassers and acquire a new more efficient one.
This is just not true. It’s a hybrid tax credit, NOT a gas efficiency tax credit. The primary purpose of the credit is to spur innovation in the technology. (Which is why the quantitiy limits are imposed per manufacturer, so that an established hybrid player such as Toyota does not excessively benefit.) If they really wanted to reward people who buy gas efficient vehicles, they would have given credits to people who buy small 4 cyl. cars, not RX400h/GS450h.
“The credit doesnt go to the manufacturer it goes to the buyer. The tax credit of whatever amount doesnt go to the dealers in any way unless the buyer allows it."
The credit technically goes to the buyer, but simple economics tells you that every link in the chain (from the manufacturer to dealer to consumer) benefits from it. Who benefits the most is up to debate. My opinion is that on an already high-demand/low-supply vehicle like Prius and Camry hybrid, the retailer (i.e. dealer) benefits the most.
#644 of 3214 Re: Hybrid Tax Credit [jrock65]
Apr 05, 2006 (3:37 pm)
Actualy I agree with a lot of what you posted as opposed to what mine stated. Yes it is directed mainly to hybrids not necessarily to more fuel efficient vehicles. Retiring a mid 90's F150 in favor of a new Civic is more beneficial than moving from an Accord to a Prius.
The credit does encourage all the manufacturers to look at new technologies, especially hybrids, including soon hopefully clean diesels.
Regarding who benefits the most.. again I say it depends on the buyer. If someone in the DC area can get$1500 off sticker on a Prius and get the full $3150 credit it cant benefit the retailer in any way except to move another piece of inventory. It can benefit the manufacturer by allowing him to bill the retailer say $500 more but if the retailer chooses to discount the vehicle then it gets no benefit. The buyer and the manufacturer share it.
OTOH if the new hybrid Camry is being sold at $2000 over sticker in some locations then it is the retailer who benefits and neither Toyota nor the buyer do.
#645 of 3214 Re: how to identify top dealerships in region [anniemfuse]
Apr 05, 2006 (6:56 pm)
I have the same question about Boston.
After driving my Avalon for almost ten years and over 130K miles and checking out the various Hondas and Toyotas, I've decided i want the new Camry Hybrid. What should I do to get it at the best price possible, given that I'm ready to retire my Avalon?
Apr 06, 2006 (9:29 am)
Does anyone if Michelin tires will be installed/available on the Hybrids? Given that they should provide a quieter, better handling, and perhaps longer lasting tire than the Bridgestones I certainly hope so.
#647 of 3214 Re: Hybrid Tax Credit [jrock65]
Apr 06, 2006 (10:44 am)
When they say a $3000 tax credit... doesn't that amount come off your Gross income...and the money back to the Hybrid Buyer is only $600.00 (+ or -)... if you are in the 20% tax bracket?
Am I wrong on this?
#648 of 3214 Re: Hybrid Tax Credit [gampa]
Apr 06, 2006 (11:03 am)
First check with your tax advisor foryour specific situation. Not everyone qualifies due to AMT.
A credit is a direct reduction in your taxes. That's why it's significantly different this year than last year. Last year it was an 'income reduction' which as you say would be ~$600 in the 20% bracket.
However... the often mentioned $3000 probably only applies to the Prius. In the case of other vehicles it's lower down to a couple of hundred dollars for the GM hybrid trucks. Best guesstimates now on certain sites is that the TCH will be in the $2000-2500 range. If you qualify!!!
#649 of 3214 Re: Hybrid Tax Credit [kdhspyder]
Apr 06, 2006 (6:35 pm)
Ok.. then the tax is subtracted from the tax we owe... good deal.
After further research, I see the estimate for the Camry Hybrid will have a tax credit of about $2350
#650 of 3214 Toyota Electronics and Service?
Apr 07, 2006 (1:01 am)
I was interested in a hybrid (Prius)2 years ago, but my wife wanted a Camry. She figured it was more reliable. Wrong. We bought a 2004 XLE 4 cylinder. The accelerator (all electronic control) suddenly decided to surge and now I have a smashed garage, XLE and Jeep (this thing went 90 feet before stopping). I'm still waiting for Toyota to send a rep to look at it. The promised "within 3 business days" response has not materialized either. I'm asking Toyota to come pull the codes, but I don't get the feeling they have any interest in doing it. So, was I wrong to not get the Prius? Perhaps not since it has control issues as well. I think the Camry is a great car when it runs right, but given what I have seen re the engine electronic controls and lack of interest in finding what the problem is by Toyota, I must say I'd wait a few years before considering a Camry hybrid.
#651 of 3214 Re: Tires [lanceq]
Apr 07, 2006 (5:14 am)
> Does anyone if Michelin tires will be installed/available on the Hybrids?
Since I have over 35,000 miles with the Michelin HydroEdges on my Prius, that is a strong affirmative.
Yes, you will find the upgrade well worth it.