Comments on: Tax Breaks for New Cars Not Yet Law

By: Jordan

Jordan — Tue, 16 Jun 2009 18:11:37 +0000

dont really need a tax break with these tips……..

You simply have to be able say ‘no, thanks at that price’ at least once to the dealer. This gives them a strong message that you are serious about your research.

You should also bring a piece of paper to the dealership and make sure you do all the math of the finance calculations yourself. The point is not that they will do the math wrong. The point is you will see exactly how the deal is structured. Do not be afraid to take the time to do this or look like a fool for mapping out your car deal in the dealership.

My dad swears by this process, http://tinyurl.com/knflt6

By: Kelly

Kelly — Sun, 17 May 2009 00:50:29 +0000

Thanks, I agree that auto manufacturers like Toyota do employ US workers and benefit our economy (my husband used to do some kind of wiring work for VW in his pre-law days). I just thought it was silly for Congress to say that the pretext of the bill was to benefit the Big 3 (the US automakers that came begging to DC) when the way it was worded wouldn’t have done that. As it turns out, the final law (hopefully) will help all auto manufacturers!

By: Don

Don — Sat, 16 May 2009 15:30:30 +0000

I enjoyed your post..good information. Only 1 thing I think should be clarified. It is true that Toyota isn’t considered a US automaker. However they do have 8 factories in the US that build vechicles here in the US employing ~35k people. In addition they buy a lot of parts that are manufactured here in the US. They built plants here in the US and have not
moved out of the US to build cars as have our “US automakers”. We are paying for the Mexicans and Canadians to continue building vechicles in their countries. How much money did Mexico or Canada offer the US automakers to continue building vechicles in their country? Yes, I am probably prejudiced since I am employed by Toyota. I just think people should realize that some of the foreign automakers do help our economy by employing people as well as spending money on parts that are built here in the US. For your information, the Tundra plant in San Antonio Texas employs 2000 people. In addition, another 2500 people are employed by the 22 on-site suppliers who build truck parts right here in Texas.

By: Jason

Jason — Wed, 08 Apr 2009 21:45:16 +0000

The new car tax ‘is’ aimed at a specific product and it will not cure the nations problems. However, I don’t believe we are going to find a ‘fix all’ solution for the nations problems anyway, and what we will need is solutions such as this tax break, a little here a little there and pretty soon things will start to turn around. Yes, it will add to consumer debt, but money is not being dished out as easily as it once was and lenders are actually checking to see if buyers really ‘qualify’ for the money they want to borrow. in other words, they are making good loans versus bad. Good loans are made by responsible people that have the means and intentions to repay in good faith.
After 9-11 when President Bush called on Americans to buy products to keep the economy going, I did just that. I think that call out is even more relevant today. If a consumer is thinking of buying a new car or replacing and old car and still has the means to take on some debt, now is the time. Most dealerships are offering great incentives and prices. In the long run it could even save your own job.
And if anyone is interested, yes, I did just buy a new Mercury Milan, and traded off a foreign make.

By: Conllee

Conllee — Thu, 26 Mar 2009 23:52:18 +0000

If people buy a Camray without doing their research, then they deserve what they get. The Chevy Malibu was car of the year, gets better gas mileage, looks better inside, has a better warranty and cost thousands less. Ford has a simalar car. In order to “stimulate” the economy, WORKING people need a tax break at the very least. Not a one time payment, but something that in constent.

By: Lindsay

Lindsay — Tue, 24 Mar 2009 19:45:27 +0000

Tax Girl! Awesome blog and info. I keep hearing about tax credit for ‘this’ and ‘that’ around the watercooler and can’t seem to find the lowdown – until your site. We too will have missed the boat on the $350 as we ‘downgraded’ to a small Toyota from a SUV in June ’08. BUT we did get our loan before the hullabaloo started with a great interest rate (although husband is no stellar applicant! god love him). Guess it all comes out in the wash. Now, armed with correct information I head off to ‘turbo’ charge our ’08 taxes! I’ll be back if I run into questions even Tim Geithner couldn’t answer!

By: Kelly

Kelly — Sun, 22 Mar 2009 11:36:44 +0000

Thanks, Pete!
I know that many foreign companies manufacture here in the US – they are a lot of our clients! And my husband used to do work for VW in Pennsylvania…
I was just commenting that the original legislation was framed as a direct response to the pleas from the Big 3 automakers for help – and the proposed legislation wouldn’t really have helped them that any more than any other manufacturer. If Congress wants to use tax as a means to an end, they should at least think about what they claim they’re trying to do.

By: pete

pete — Sun, 22 Mar 2009 10:00:57 +0000

Tax girl,

Toyota’s made in the U.S. also. (Kentucky) Many suppliers for component parts also (Ohio, Tenn.) It helps everyone (a little)

By: Kelly

Kelly — Sat, 07 Mar 2009 15:25:54 +0000

Thanks – I mentioned in my final stimulus article that it was only good through the end of the year once signed but another mention never hurts.

By: CJ

CJ — Sat, 07 Mar 2009 14:14:01 +0000

Kelly
You also need to let folks know that although they have been saying they will do this tax break on new auto purchases since last year, according to the IRS it is only good on new autos purchased AFTER 2/17/09 when the bill was signed into law. Didn’t help me who knew they were going to do it and bought my vehicle on 2/13/09. CJ