It is not just you who wants to purchase a Hybrid Vehicle the government would also like you to have on as well, and that is why they are offering tax credits that will go up to $3,400 but only for hybrids that were purchased after 2005
But it is not simple as the amount of tax credit that you can get depends on how fuel efficient your vehicle is
But there is also another factor that is involved in how much you can get back in tax and that is when the automaker like Honda or Toyota sell 60,000 vehicles then the tax credit begins to drop by 50 percent which will start in the following quarter of the tax year, and as each quarter comes then it will drop by 50 percent of that figure until the figure get to zero
Here is a list of what tax incentives you can get for some of the most popular hybrid vehicles
2006 Toyota Prius
The credit is $3,150 but as the 60,000 has been achieved you will only be able to get $1,575 in October 2006 and then down to $788 in April 2007
2006 Toyota Highlander Hybrid
The tax credit was $2,600 but again the limit has been achieved so it will go down to $1,300 in October 2006 and in April 2007 it will drop to $650
2007 Toyota Camry Hybrid
Tax credit was $2,600 but again over the limit so will be cut to £1,300 in October 2006 and in April 2007 it will go down to $650
2006 Ford Escape Hybrid 2WD
Tax credit is $2,600
2006 Lexus RX 400h
Tax credit was $2,200 but as it is still a Toyota it is over the limit so the tax credit has dropped to $1,100 in October 2006 and then going down to $550 in April 2007
2006 Honda Civic Hybrid
Tax credit is $2100
2006 Mercury Mariner 4WD
Tax credit is $1,950
2007 Lexus GS 450h
Tax credit was $1,550 but as it is a Toyota the credit was slashed to $778 in October 2006 and then down again in April 2007 to $388
2006 Honda Insight CVT
The tax credit is still under the limit so you can get $1,300
2006 Honda Accord Hybrid
The tax credit for this model is $1,300
2007 Saturn Vue Green Line
I can here you saying who but the credit $650 is
2006-07 Chevrolet Silverado/GMC Sierra 4WD
Again the tax credit for this vehicle is $650
Information found Via http://hybrid.autobytel.com
