More Auto Credits
The IRS announced last week that it has revised its list of automobiles eligible for hybrid tax credits. In December, the IRS published a list of vehicles eligible for the credit – the new credit applies to vehicles purchased on or after January 1, 2006.
Hybrid vehicles which now qualify and their credit amounts are:
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2005 Toyota Prius $3150
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2006 Toyota Prius $3150
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2006 Toyota Highlander 4WD Hybrid $2600
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2006 Toyota Highlander 2WD Hybrid $2600
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2006 Lexus RX400h 2WD $2200
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2006 Lexus RX400h 4WD $2200
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2006 Ford Escape Hybrid Front WD $2,600
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2006 Ford Escape Hybrid 4 WD $1,950
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2006 Mercury Mariner Hybrid 4 WD $1,950
The credit is only available for a limited time, so consider buying now. The credit will decrease over time after the respective manufacturer sells its 60,000th qualifying vehicle.
