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Reply to "Would you buy a car today to get the tax credit?"
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[quote=Anonymous]A few months ago we were looking at plug in hybrids and liked the Ford Escape, but didn’t buy it because DH wanted to wait for the new expected features in the 2023. Under current law, we’d get I think a 7k tax credit. With the new law, we have too high an income to qualify for the credit so we’d need to pay “full price”. Under the new law, we need to be in a binding contract to get the tax credit that’s permitted under current law, so we need to enter into the contract in the next few days before the new law is signed. We could put in a binding contract for a 2023, but the dealerships don’t know the msrp yet, so essentially we’d be required to buy a car without knowing the total price (though we can guesstimate right now). Would you put in for a binding contract to buy a 2023 today so you qualify for the current tax credit, even if you didn’t know the exact price?[/quote]
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