http://news.yahoo.com/s/ap/20090203/...gress_stimulus

Between the government and the car company incentives, GM is gonna end up paying ME for a 2010 SS camaro!!!

Seriously though, I hope to god the general survives until camaro SS #10,0xx is produced. These deals are frickin sweet. I am sooo motivated to buy a new car!

 

What do you get if you have a 0.0% loan?

 

Then you made a mistake and should have took the incentives...well depending on the math. You only get what like 20% of what you write off back.

 

Wow. I can right off the tax on a new purchase too?

 

You will always be better off with 0% vs taking an interest deduction.

 

How about no sales tax on cars that get over 33mpg hwy or city. That cuts oil consumption and moves cars.

 

So the senate passed this. Now it's gotta go back to the house. Then to the prez.
Is there any chance this will be passed during this tax season?
I would really like to deduct the sales taxes I paid on the Solstice this tax season.

 

I don't imagine it would grandfather in cars purchased or interest paid in 2008. If you bought it in 2009 and this passes then you should be able to claim it when you file your taxes next year for 2009.

 

Only the Prius, Civic Hybrid, Altima Hybrid, Camry Hybrid, Smart ForTwo and Escape/Mariner/Tribute hybrid currently exceed 33 MPG city.

Only the ForTwo, Prius, Civic Hybrid, Altima Hybrid and Camry Hybrid get 33 or over combined.

That's not a whole lot of choices...

 

I think he said highway or city. That adds many more cars, but small cars and midsized cars with small engines. (Malibu would be in there.)

 

I guess I misunderstood. There's really no need for "or city" then. Just "cars that can exceed 33 MPG."

 

I doubt that would ever happen here. California is hurting for cash and would never agree to it. Heck they're already talking about raising vehicle registration fees to generate more money.

 

I would def take a 0% loan over any write offs. I don't think I'll be eligible for a 0% loan though. My credit report has a couple poop smudges on it. Maybe by the summer when my car is ready, the market will be desparate enough to give 0% to anyone, or my credit will be high enough for a 0%

Totally off topic, but..... what credit score must one have to qualify for a 0% car loan?

I have heard rumors that if the bill passes before you file your tax return, you might get the perks of the new rules, even though its a 2008 return.

I bought a house in DEC, and I qualify for the $7500 first time homebuyer credit. I'm trying to hold out, to see if I can get in on the $15000 homebuyer credit. I probably won't be able to, but's worth a shot.


I think you'll end up being right about this. I'm purchasing my car in 2009 though, so I'll be good. I still hope that home purchases are grandfathered in though!

 

That is why I said hwy too. Fusion, Malibu, Aura, G6, G5, Focus, Mercury whatever, Cobalt, Aveo would be added to your list. Dodge/Chrysler would be forced to get off their *** and make something that can get over 30mpg hwy.

I said it that way because a Ford Escape gets 34 city but only 31 hwy.

 

Let's just make the tax code even more ****ing confusing.