Some good news about the "stimulus" bill for Camaro buyers! - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

beowulf80 · 02-11-2009, 11:32 PM

Looks like if you buy a Camaro (or any new car) you'll get a nice deduction next year.

"The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles"

http://news.yahoo.com/s/ap/congress_stimulus
http://latimesblogs.latimes.com/upto...xes/index.html

I fully intend on applying the tax refund I'm getting this year to boost my down payment. Somehow I doubt the Pres and democrats in Washington intended this to go to a Camaro purchase, but that doesn't bother me one bit.

And for those of you who need a picture:

That'll teach you...

Camaro68 · 02-11-2009, 11:53 PM

Good news.

stovt001 · 02-12-2009, 12:19 AM

I don't think they care what car you spend it on. They just want auto industry volume to pick up. This recession has done a nice job of quieting the whole green thing down, or drowning it out.

The spending stimulus worries me a bit - it was reckless consumption and risky financing that got us in this mess in the first place. Corporate tax breaks and incentives to save and invest capital would have been better, IMHO, but I digress...

nester7929 · 02-12-2009, 12:19 AM

It's responsibility that people need, not more money.

shockandawe · 02-12-2009, 05:10 AM

Just order a Green Camaro. Obama and Palosi are so stupid they won't know the difference!

jachevy28 · 02-12-2009, 05:51 AM

Well dang... doesn't do me much good in SC... our sales tax is capped at $300. Big deduction there...

thejbyrd · 02-12-2009, 06:01 AM

Quote:

Originally Posted by nester7929

It's responsibility that people need, not more money.

+1000000000000

Croathlete · 02-12-2009, 06:26 AM

First it was $7500, sales tax, and loan interest. Then it was sales tax and loan interest. Now it's just sales tax?

philthy · 02-12-2009, 08:07 AM

Quote:

Originally Posted by Croathlete

First it was $7500, sales tax, and loan interest. Then it was sales tax and loan interest. Now it's just sales tax?

Yep....that was the initial proposal. It got wittled away as more parties got involved.

Glad to see the government is gung-ho about reviving the auto industry! (inject undertone of sarcasm here

)

Muscle Master · 02-12-2009, 08:09 AM

Quote:

Originally Posted by nester7929

It's responsibility that people need, not more money.

You have to realize, its hard out here

Rocks RS · 02-12-2009, 08:24 AM

I would love to complain, but I will take it. It is much better than nothing or a sharp stick in the eye.

Edrock · 02-12-2009, 08:25 AM

Quote:

Originally Posted by jachevy28

Well dang... doesn't do me much good in SC... our sales tax is capped at $300. Big deduction there...

Not much different in NC where sales tax on auto sales is only 3%. I was all excited about the possibility of deducting interest of the loan dang it! That sucks!

Guess it's better than nothing though? I'll take it I guess. Another one of those cases where I wish I was never made aware of the possibilities to begin with only to be less enchanted by the end result...

PQ · 02-12-2009, 08:33 AM

josh1147 · 02-12-2009, 08:45 AM

I'll take it...here in St. Louis, new vehicle taxes for a $38K car will cost me about $2700!!!!

I will definitely take that credit!

02-11-2009, 11:32 PM	#1
beowulf80 Drives: 2010 2SS / RS MT, IBM Join Date: Jan 2009 Location: Yorkville IL Posts: 181 View My Garage	Some good news about the "stimulus" bill for Camaro buyers! Looks like if you buy a Camaro (or any new car) you'll get a nice deduction next year. "The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles" http://news.yahoo.com/s/ap/congress_stimulus http://latimesblogs.latimes.com/upto...xes/index.html I fully intend on applying the tax refund I'm getting this year to boost my down payment. Somehow I doubt the Pres and democrats in Washington intended this to go to a Camaro purchase, but that doesn't bother me one bit. And for those of you who need a picture: That'll teach you...

02-11-2009, 11:53 PM	#2
Camaro68 Drives: 68 Camaro 327ci 2SS/RS 376ci LS3 Join Date: Mar 2008 Location: Prince William, VA Posts: 2,703 View My Garage	Good news. __________________ 6000 Vehicle Delivered to Customer 6-23-10

02-12-2009, 12:19 AM	#3
stovt001 Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007 Location: California Posts: 3,812	I don't think they care what car you spend it on. They just want auto industry volume to pick up. This recession has done a nice job of quieting the whole green thing down, or drowning it out. The spending stimulus worries me a bit - it was reckless consumption and risky financing that got us in this mess in the first place. Corporate tax breaks and incentives to save and invest capital would have been better, IMHO, but I digress... __________________ "It's kind of fun to do the impossible" - Walt Disney There's a great big beautiful tomorrow shining at the end of every day There's a great big beautiful tomorrow Just a dream away

02-12-2009, 06:26 AM	#8
Croathlete Danny Drives: 2010 Camaro 2SS/RS Join Date: Nov 2007 Location: NYC Posts: 1,656	First it was $7500, sales tax, and loan interest. Then it was sales tax and loan interest. Now it's just sales tax? __________________ 2SS/RS CGM with black rally stripes DON_RAFA describing my Noweeds cutouts - "Very Strong. When I couldn't see you I still heard you. Sounds like your car is pissed at the world."

02-12-2009, 08:24 AM	#11
Rocks RS Drives: 2010 Camaro 2LT/RS Join Date: Jan 2008 Location: Cortland Ohio Posts: 779 View My Garage	I would love to complain, but I will take it. It is much better than nothing or a sharp stick in the eye. __________________ 2010 Camaro 2LT / RS - Black w/IO interior & M6 Sporting MRT V1, Hurst short throw, and Injen long tube and loving it!!! Also, over 125,000 miles and going.

02-12-2009, 12:19 AM	#4
nester7929 Rice Harvester Drives: 2014 Bright Yellow 2SS/RS Join Date: May 2008 Location: Plainview, TX Posts: 1,449	It's responsibility that people need, not more money.

02-12-2009, 05:10 AM	#5
shockandawe Drives: 2014 Z51 Corvette Join Date: Dec 2008 Location: Wisconsin Posts: 1,349	Just order a Green Camaro. Obama and Palosi are so stupid they won't know the difference!

02-12-2009, 05:51 AM	#6
jachevy28 Camaro. Is. Life. Drives: 2016 1SS Join Date: Oct 2008 Location: Greer, SC Posts: 278	Well dang... doesn't do me much good in SC... our sales tax is capped at $300. Big deduction there...

02-12-2009, 08:33 AM	#13
PQ Booooosted. Drives: 2010 Supercharged SS Join Date: Apr 2008 Location: Mobile, AL Posts: 36,716 View My Garage	__________________

02-12-2009, 08:45 AM	#14
josh1147 Delivered 29June09 Drives: Early Order Camaro Join Date: Nov 2008 Location: St. Louis, MO Posts: 411 View My Garage	I'll take it...here in St. Louis, new vehicle taxes for a $38K car will cost me about $2700!!!! I will definitely take that credit!

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Good news for vets!!!	TFord	Off-topic Discussions	5	07-07-2008 08:34 PM
JD Power survey: Younger Buyers Avoiding Domestics	Scotsman	General Automotive + Other Cars Discussion	6	12-04-2007 01:31 AM
Edmunds.com review of Holden Commodore... good info.	LSxcellent	General Automotive + Other Cars Discussion	6	07-23-2007 06:49 PM
Good News Boys and Girls	Freedom07	5th Gen Camaro SS LS LT General Discussions	45	01-31-2007 10:08 AM