More Auto Credits

The IRS announced last week that it has revised its list of automobiles eligible for hybrid tax credits.  In December, the IRS published a list of vehicles eligible for the credit – the new credit applies to vehicles purchased on or after January 1, 2006.

Hybrid vehicles which now qualify and their credit amounts are:

  • 2005 Toyota Prius    $3150
  • 2006 Toyota Prius   $3150
  • 2006 Toyota Highlander 4WD Hybrid $2600
  • 2006 Toyota Highlander 2WD Hybrid $2600
  • 2006 Lexus RX400h 2WD   $2200
  • 2006 Lexus RX400h 4WD   $2200
  • 2006 Ford Escape Hybrid Front WD $2,600
  • 2006 Ford Escape Hybrid 4 WD   $1,950
  • 2006 Mercury Mariner Hybrid 4 WD $1,950

The credit is only available for a limited time, so consider buying now.  The credit will decrease over time after the respective manufacturer sells its 60,000th qualifying vehicle.