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2007 Toyota Camry Hybrid - Important Tax Information !

49 messages,  Last post on Oct 24, 2007 at 7:21 AM

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What is this discussion about? Toyota Camry Hybrid, Sedan


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#40 of 49
Re: Not as bad as most make it to be... [wvgasguy] by lzc
Apr 07, 2007 (8:47 am)
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Replying to: wvgasguy (Apr 06, 2007 7:32 pm)

I consider the AMT form a good example for why members of Congress should be required to do their own taxes. If they did, tax simplification would quickly become reality.
 
During a recent oil change at the dealer, I mentioned Oregon's hybrid tax credit to my salesman. He claimed that he'd never heard of it, and added they are all told to never even mention the subject of any tax credits.
#41 of 49
Re: Not as bad as most make it to be... [lzc] by wvgasguy
Apr 07, 2007 (10:17 am)
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Replying to: lzc (Apr 07, 2007 8:47 am)

He claimed that he'd never heard of it, and added they are all told to never even mention the subject of any tax credits.
 
Doesn't make sence. That should be a selling point. Granted they need to know waht they are talking about. The WV Credit had been on the books 10 years and ran out June 5th, one month before I bought mine. I'm not sure the other folks sho bought here even knew it existed. The $3750 was what put me over on making the decision to "downsize" and I can' now see myself ever buying a family car that doesn't get at least 30+mpg. This thing has saved me a ton of money in scheduled maintenance, tires, insurance, payment and gasoline.
#42 of 49
Re: Not as bad as most make it to be... [wvgasguy] by tomq
Apr 20, 2007 (9:45 am)
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Replying to: wvgasguy (Apr 07, 2007 10:17 am)

Seems to me the credit has a couple of things not mentioned. Money on hybrid tax credit comes from fed and state. Probably they limit the amount of cars (60,000) because of the sum totaled for the car amounts to many many bucks. Yes, I know it is our $$$ they are giving back to us. Again the goverments reason could be to encourage using alternatives to our reliance on gas and our dependency on foreign oil. Last but equally important altenatives, (hybrids included, with better mpg using less fuel) burn cleaner for pollutions and green enviroment purposes. Just my thoughts, have not read all this thread posts and hope not repeating what someone else may have already touched on.
#43 of 49
Re: Not as bad as most make it to be... [tomq] by lzc
Apr 20, 2007 (10:58 am)
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Replying to: tomq (Apr 20, 2007 9:45 am)

No doubt cost is one motive for the 60,000 car limit, but its main purpose was to help automakers--especially Detroit--reach efficient manufacturing volumes.
 
Toyota is the only manufacturer hurt by the limit at this time.
#44 of 49
Re: Not as bad as most make it to be... [lzc] by wvgasguy
Apr 20, 2007 (12:12 pm)
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Replying to: lzc (Apr 20, 2007 10:58 am)

Well you're both probably right. I just can't see why bother if you limit it. I'd think thed want as many green fuel effecient cars on the road as they can get. Bad thing for GM is even if they had one to compete with Toyota, I'd still buy the Camry reguardless of the tax credits (unless it was a hybrid Vette).
#45 of 49
Re: Not as bad as most make it to be... [wvgasguy] by lzc
Apr 20, 2007 (2:32 pm)
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Replying to: wvgasguy (Apr 20, 2007 12:12 pm)

The hybrid credit was sold in Congress as an incentive credit. Presumably, once volume production lowered costs no permanent subsidy would be needed.
 
60,000 was the number chosen, in part, because anything more was considered a gift to Toyota, not a popular idea with union friendly members of Congress.
#46 of 49
TCH Rebates in Canada by ss001
Sep 30, 2007 (1:55 pm)
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Any Canadian TCH owners on this forum? I know the provincial rebate is available now. Has anyone heard when the federal form will be available? When I picked up my car in July the dealership told me they would have the forms in the fall. I called them this week and they don't know when the forms will be in. Also, if you have applied for your provincial rebate, how long did it take before you received it?
#47 of 49
Pennsylvania Hybrid Rebate by rtchoke1
Oct 24, 2007 (6:25 am)
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Pennsylvania is offering a $500 rebate when purchasing a new hybrid. The claim must be filed within six months of purchase. My dealer, Faulkner Toyota in Bensalem, claimed not to know about it! Go to http://www.depweb.state.pa.us/enintech/cwp/view.asp?a=1412&q=502176 for details.
#48 of 49
Re: Pennsylvania Hybrid Rebate [rtchoke1] by lzc
Oct 24, 2007 (6:56 am)
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Replying to: rtchoke1 (Oct 24, 2007 6:25 am)

Typically, car dealers forbid their sales staff from talking about tax credits. I, too, was surprised to find out Oregon had a $1500 tax credit the dealer claimed to know nothing about.
 
But . . . . with car salesmen not known as the best source for information about cars, dealers are probably rightfully worried about what their sales staff might do with tax credit information.
#49 of 49
Re: Pennsylvania Hybrid Rebate [lzc] by talmy1
Oct 24, 2007 (7:21 am)
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Replying to: lzc (Oct 24, 2007 6:56 am)

One should no sooner take tax advice from a car salesman than medical advice! At least the Oregon credit applies to all residents. The Federal credit depends on susceptibility to the AMT. It takes super-human abilities to figure that one out.
 
On the irritant side, the $1500 Oregon credit increases the federal tax (if you itemize) and can wipe out most of the federal credit. Now the federal credit has gone away new purchasers in Oregon will pay more federal tax if they buy a TCH or Prius. Want to reduce your federal tax? Buy a gas guzzler!

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