Ford Tax Credit for Hybrid Cars and SUVs
May 30, 2009 |11:32 | Gossips By : Team X
There is a tax credit for hybrid cars available through the Ford Motor Company. There's been a lot of debate and confusion on what automakers are approved by the IRS to issue the hybrid tax credit.
Most of the new hybrid tax credits have expired, but Ford still has them for the 2010 Ford Fusion and the Escape SUV.
For the most part, there is no $3,400 hybrid vehicle tax credit available. That was reduced to $1,700 on April 1, 2009.When you buy a Ford Hybrid car, you can use the $1,700 if you purchase the vehicle before October 1, 2009.
If you purchase the car after October 1, then new hybrid tax credits are reduced to $850, if you make your purchase before March 1, 2010. Other car manufacturers have a different credit scale and expiration for the tax credits. This is what started the confusion in the first place.
It would be easier if the government incentive was one hybrid tax credit written in stone. However, they felt it was easier to provide these credits for each automaker. It also doesn't help that the credits are reduced at a point of expiration.
The tax credit amounts are available for 2009 and 2010 model year hybrid vehicles. There is another catch (of course!) with the Ford Escape. There are two different tax credits for the 2009 Escape Hybrid SUV. The current credit is 1,500 if you purchase the front-wheel drive. However, the 4WD reduces the credit down to $975. Trying to figure out all these tax benefits, per automaker and car model, is more complicated than me doing my own taxes.
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