This is just me doing some thinking and playing around with numbers, and i am not definetly sure if i am going to do this or what.

Anyways, with all the tax incentives being thrown around this might be a way for me to make up some of the devaluation of the car. So if the Cash for Clunkers law passes, and if the car qualifies, i would get 4500 to trade into something that gets a 10 MPG improvment. So maybe a hybrid. Well if i get a hybrid there is additional tax breas, like a nissan altima at $2200. So technically if i trade in my car for a nissan altima i will see a check from the gov't for 6700 dollars. Altima Hybrids can be picked up for around $27,000. If i trade in my srt6 with 23000 miles and get 15,000 + 6700 Tax credits = a difference of around 5000 grand out of pocket. Plus i wouldn't pay any sales tax on the new purchase.Total savings from tax breaks over $7500 Doesn't seem to bad right? Is there a flaw in my reasoning?

Reason i would consider this, srt6 is my daily driver. I have had tons of problems with the car over the past 2 years, when the warranty is up, i will be screwed. and then take advantage of the money that won't be around.

 

Sounds good, I haven't heard of these tax credits though...


Are these definite or in the works?

 

http://energycommerce.house.gov/Pres...orclunkers.pdf

Cash for clunkers proposal

New Energy Tax Credit for Hybrids

Hybrid incentive

Sales Tax Deduction for Vehicle Purchases

Sales tax

 

You still have to pay the sales tax.

The sales tax one is merely a tax deduction, not a tax credit, so you only get back a portion of the sales tax equivalent to your marginal federal income tax rate, or a bit lower, if it pushes you into a lower bracket.

 

SRT6 for a hybrid??

That would be like trading in Carmen Electra for Nancy Pelosi LMAO

Whatever makes you happy.

 

I have always been told to finance my home and cars so i could get the tax deduction,, well i did that for a year and found out i senet over $10,000.00 to get 1100 in tax deduction,, so i paid off my car put the 3000 that i would have paid in interest into a CD,, it is still there 15years later it is over 10000 now as for the house,, sold it made money bought another (smaller ) paid in full sold it and , now, i look at it like this ,, If i can't pay cash for it then i can't have it, whatI am saying is no one (goverment or any else) is going to give you anything,, yes they make it sound good but my horn,,exhaust and wife sounds good to me good luck though it is you decision jim

 

I would have to a agree with this.

If I were to go "green" I'd have my SRT painted.

 

Thanks for the input.

I don't necessarily care for a hybrid, but 6grand for free sounds good. I'm tired of people that mismanaged money getting bailout, let me get my piece is my reasoning. I don't owe anything on the srt6, everything i own is paid off. So i was asking if my reasoning is flawed.

The whole srt6 to a hybrid is funny. I know that it is a big difference, i don't care about a hybrid, but this is to take advantage of the supposedly free money.

My original intention would be a g8 GT. but i wouldn't get squat for trading it in.

SO my thought, buy the hybrid get the free money, sell it in 2 years, and once again buy a fast car. Right now my situation is i need a bigger car, more reliable car and if i could get a g8 i would. but why lose 7 grand.