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2004-2009 Toyota Prius Prices Paid and Buying Experience
Please share your recent Prius purchase price and experience.
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Plus
Mats
Taxes
Reg.
Title
Tomorrow I will pay the deposit (we see good days etc.,)
Friday I got 2006 Prius for $1500 under MSRP. This is from TOYOTALAND, Springfield, NJ. I paid my deposit. I ordered either of these colors in base+mats. Driftwood Pearl/Silver Pine Mica. Because I put this dealer with competetion with my $1000 dealer. It worked great.
21069 Price (Including Dest+Mats)
299 Doc Fee
Plus
Tax (NJ Tax)
Title/Reg 242
7.50 Tire Fee
Yeah, there was a little pressure on the sales side regarding extended warranty and other extra stuff that 'I absolutely have to have', but it was simply a matter of saying 'No, thank you'.
Regarding the mats, the dealer threw them in for free. Didnt cost me a dime.
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Ask your Prius lease questions here: Toyota Prius: Lease Questions
Car_man will be sure to see it there.
regards,
kyfdx
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I am also living in Bay Area and thinking about buying a Prius. Do you mean the dealers around here agreed So far all the dealers I talked to are either willing to sell with the MSRP price or some even with the mark up. Which are the dealers or brokers you talked to that are willing to sell with the invoice price.....if that's what you have found.
Nobody in California [or anywhere on the West Coast, for that matter] is selling the Prius at significant discounts. A good deal is MSRP, or if you're really lucky, a bit less. The trick is to keep the dealer extras to a minimum so you can get out the door with just taxes and license added on.
Any advice for a first time hybrid owner?
Paying $4016.00 out the door (incl T & T).
Trading in a 2k5 Prius with 8000 miles.
Nothing wrong, I just like the extra bells & whistles on the new one.
This has side air bags the 2k5 doesn't.
No waiting for delivery, ordered tonight (3/20/06)Car is coming in to dealer (N.E. Phila Pa area) tomorrow.
With the $3000. tax credit (car is 5430 off the mfg line) and $500 cash back from the state of Penna, I break even.
I don't understand why some people say they waited months for their car. Only waited a week for the 2k5.
That is a great price. Even Good to see dealers selling at or near invoice. Makes a practical buy. Sounds like you got a good trade-in.
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Car_man
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Look at it another way - what would a zero-down 60 month loan run you, if you could land such an animal? And at the end, you'd own the car...
This car should have extremely strong residuals - that lease sounds like what you'd get for a BMW 5er or a Mercedes E, with MSRPs in the 55k range. For a Prius at $28k, well, insane is the only word that comes to mind...
http://townhall-talk.edmunds.com/WebX/.f0ae824/0
I regard the styling as very European - Citroenesque, to be precise.
The other cars you list were on our list, as well, but I wanted a hatch and the cargo space in the Prius - not to mention the real room for adults in the back seat....all with 45 mpg.
No discounts to be had in most markets - MSRP, less a couple of hundred if you're lucky, is about what it is. At $23k for ours, less the tax credit of $3k, the car has no peers, in my opinion.
I'm in SoCal, and unfortunately I haven't heard any stories of below-MSRP pricing here. Not sure why Prius demand is still so good here, must be the $3/gallon regular gas.
Btw, for those of you new to Prius shopping, don't pay more than MSRP! You're a fool if you do.
In the end, after ALL of your other deductions and credits, your tax liability must be over $3k for you to enjoy the full benefit of the hybrid car credit. It is the last credit you can apply, and it cannot reduce your taxes below zero - unlike the earned income credit, for example, or other credits that result in you getting money from the IRS even after you owe them nothing.
To take a personal example, I estimate our 2006 taxes to be about $4500 after all deductions and other credits; thus, in our case, the credit reduces our tax to about $1500. But if our tax had only been, say, $2500, we would have a tax of zero, but it also means we would have "forfeited" part of the credit.
First calculate your taxes under the current rules, with all deductions and credits - then you get to take the hybrid credit, down to but not below, a zero tax liability.
And for the record, home mortgage interest is a deduction, not a credit. Deductions reduce your taxable income; credits reduce your tax liability after all your deductions are taken, and your "base tax" is calculated. This is an example of why this is not an easy discussion in this forum.
credit or just a $3150 credit?
Form 8910 at the IRS website....noteably without instructions at this point, as they are still working on the details.
"To take a personal example, I estimate our 2006 taxes to be about $4500 after all deductions and other credits; thus, in our case, the credit reduces our tax to about $1500. But if our tax had only been, say, $2500, we would have a tax of zero, but it also means we would have "forfeited" part of the credit."
So your tax liability is $4500, the tax credit lowers that liability to $1500 ... and at that point, you factor in what you have paid in taxes over the year, right? If your tax liability without the Prius tax credit was $4500, and you had $4000 withheld during the year for federal taxes, then without the Prius tax credit you would have to pay Uncle Sam $500 ($4500-$4000=$500). But with the tax credit, the calculation is $4500-$3000=$1500 ; $4000-$1500= a tax refund of $2500.
Is that right? It's not a matter of the bottom line - what you owe or what you get back - it's that your total tax liability, before you factor in what you have already paid in taxes, must be equal to or greater than the Prius tax credit to get the full amount of that tax credit ... right?
One source stated that if my income were $50,000 I would deduct the tax credit and my gross income would be $47,000. My total tax liability plus any further tax deductions(not credits)would be based upon the lower figure.
Another source said that if my total tax liability was $10,000(based upon $50,0000) applying the credit would reduce that to $7000. I'd like to think this is correct.
Thanks for your help.
-Your tax liability is the total tax as calculated on the form 1040. It is irrelevant for this discussion whether you had $1 in withholding or $1 million. Your withholding, or estimated tax payments, if you're smart, should approximately equal your TAX LIABILITY in any given year...otherwise, you're making the govt an interest-free loan. Lots of people do, which is why refunds are so high, but this is why the discussion gets complicated. When I say "tax liability" I mean your net level of taxation for any given year...NOT how much you owe as a result of underpayment, or how much they owe you on account of overpayment.
-In the example I used, and cited by Cybernut, his logic is correct.
Gross income minus deductions equals adjusted gross income. AGI is then used to calculate your TAX. Then CREDITS are subjected from the tax to give your NET TAX LIABILITY. [How much you have already paid in withholding or estimated tax payments then equals a refund or amount owed.] The hybrid credit is taken as the last credit to calculate your net tax....but cannot reduce your net tax below zero. And if you're subject to the AMT, you can lose the value of certain deductions and credits, including this one.
If you have fully funded your tax liability through withholding or estimated payments, and if the credit applies, then yes, your refund would increase by the $3000 of the credit.
-As for the form, the one online now is indeed for the 2005 tax year; there will be a new one for the 2006 tax year, which hasn't been posted yet. I was merely trying to address the question of multiple credits - the current form seems to allow for multiple deductions under the old law, and I know of nothing in the new law that prohibits multiple credits, as long as your tax liability doesn't go below zero. We shall see when the final version for 2006 is drafted.
It's simple. DEDUCTIONS reduce your income that is used to calculate your tax. CREDITS are applied after you've calculated your TAX, giving your net TAX LIABILITY. How much you owe or get back is based on how much you paid during the year. Some people like big refunds; I'm not one of them, and try to arrange our payments and liability to match within $50 in any given year....but that point is not really relevant to the discussion.
-Gross Income: $60,000
-Standard Deduction [or itemized, whatever]: -$10,300 for joint filing
-Personal Exemptions: -$3,300 x2 for a childless couple = -$6,600
-Other Allowable Deductions: IRAs? Whatever? -$5,000
-AGI= $60000-10300-6600-5000= $38100
-Tax for a joint return = $4960 [Gross liability before credits]
-Hybid Credit = -$3000
-Net Tax Liability = $4960-3000 = $1960 (The hybrid credit CANNOT reduce this number below zero.)
(Then, and only then, does the question of how much you've already paid enter the discussion. If you paid $5000 through the year, your refund in this case would be $5000-1960 = $3140.)
Are there really that many more enviro-loving drivers here in CA? Is the Prius a very popular car in the Northeast? It seems popular here, but it's not like everyone wants one. I just don't understand the supply-demand gap.