New Car Tax Benefits Expire at Year End, Reminds Edmunds.com
SANTA MONICA, Calif. — December 2, 2010 — There are a number of current new car tax credits expiring at the end of December. Edmunds.com, the premier online resource for automotive information, encourages would-be buyers to consider this timing when making purchase decisions.
"Credits are expiring once and for all on a huge swath of new cars, unless there's a successful lame-duck effort in Congress to extend them," noted Edmunds.com Features Editor Carroll Lachnit.
A full list of vehicles eligible for the tax credit appears at http://beta.edmunds.com/fuel-economy/car-tax-credit.html.
"Hybrid, diesel and compressed natural gas (CNG) vehicles purchased after December 31, 2010 will no longer be eligible," noted Lachnit. "But the tax credits for plug-in hybrids like the Chevy Volt and electric vehicles like the Nissan Leaf are likely to remain in effect for several years."
However, according to Edmunds.com Features Writer Ron Montoya, "Tax credits aren't the only factor to consider, especially since buyers have to wait until spring to realize the savings. Meanwhile, dealers may push up prices for in-demand cars, and that can negate much of the tax savings if buyers aren't careful. For some models, buyers will realize better savings if they wait until 'hot' models cool off."
Montoya points to the Honda Civic GX and Hyundai Sonata Hybrid as two examples. Read more on those vehicles' pricing trends at http://blogs.edmunds.com/strategies/2010/10/2011-hyundai-sonata-hybrid-qualifies-for-tax-credit-but-not-for-very-long.html and http://blogs.edmunds.com/strategies/2010/10/2011-honda-civic-gx-wants-a-bit-of-the-bright-green-spotlight.html.
Check Edmunds.com's True Market Value® Predicted Price Trends at http://beta.edmunds.com/tmv-alerts.html to learn if the model you like is expected to become less expensive in the near future.
About Edmunds.com, Inc. (http://www.edmunds.com/help/about/index.html)
Edmunds.com Inc. publishes Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive information, launched in 1995 as the first automotive information Web site and hosts the most established automotive community online. Its mobile site, accessible from any smartphone at www.edmunds.com, makes car pricing and other research tools available for car shoppers at dealerships and otherwise on the go. InsideLine.com is the most-read automotive enthusiast Web site. Its mobile site, accessible from any smartphone at www.insideline.com, features the wireless Web's highest quality car photos and videos. AutoObserver.com provides insightful automotive industry commentary and analysis. Edmunds.com Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit. Follow Edmunds.com on Twitter@edmunds and fan Edmunds.com on Facebook at http://www.facebook.com/edmunds.