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Hybrid Car Tax Credit Information

Posted on April 26, 2009
Filed Under Government, Tax Information | Leave a Comment

irsThe Ford Motor Company has reached a milestone when it comes to hybrids, and that milestone could affect your decision if you plan on going down that road.

Ford has now sold more than 60,000 hybrids.

In fact, the company has sold 66,157. That means you can no longer claim the full tax credit that you used to be able to claim on a vehicle like that.

In fact, you can now only claim half the amount, and there’s a limit on that too. You have to buy the vehicle before September 30th.

After that, you can just claim 25 percent of the full credit, and starting April 1,2010, you can claim nothing.

So, the sooner you act on this, the bigger tax credit you’ll get.

I’ve posted below a list from the Ford Motor Company, estimating how much a tax credit you can get. This is the full amount, so you’ll have to deduct a percentage, depending on when you plan to buy.

  • 2005, 2006, 2007 Ford Escape 2WD, $2,600;
  • 2008, 2009 Ford Escape 2WD, $3,000;
  • 2005, 2006, 2007, 2009 Ford Escape 4WD, $1,950;
  • 2008 Ford Escape 4WD, $2,200;
  • 2010 Ford Fusion, $3,400;
  • 2008, 2009 Mercury Mariner 2WD, $3,000;
  • 2006, 2007, 2009 Mercury Mariner 4WD, $1,950;
  • 2008 Mercury Mariner 4WD, $2,200;
  • 2010 Mercury Milan, $3,400

Source: WRDW

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