02-11-2009, 11:32 PM | #1 |
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... |
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02-11-2009, 11:53 PM | #2 |
Drives: 68 Camaro 327ci 2SS/RS 376ci LS3 Join Date: Mar 2008
Location: Prince William, VA
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Good news.
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02-12-2009, 12:19 AM | #3 |
Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007
Location: California
Posts: 3,812
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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...
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02-12-2009, 12:19 AM | #4 |
Rice Harvester
Drives: 2014 Bright Yellow 2SS/RS Join Date: May 2008
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It's responsibility that people need, not more money.
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02-12-2009, 05:10 AM | #5 |
Drives: 2014 Z51 Corvette Join Date: Dec 2008
Location: Wisconsin
Posts: 1,349
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Just order a Green Camaro. Obama and Palosi are so stupid they won't know the difference!
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02-12-2009, 05:51 AM | #6 |
Camaro. Is. Life.
Drives: 2016 1SS Join Date: Oct 2008
Location: Greer, SC
Posts: 278
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Well dang... doesn't do me much good in SC... our sales tax is capped at $300. Big deduction there...
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02-12-2009, 06:01 AM | #7 |
Drives: My wife nuts with my obsession Join Date: Aug 2008
Location: Florissant,Mo
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02-12-2009, 06:26 AM | #8 |
Danny
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First it was $7500, sales tax, and loan interest. Then it was sales tax and loan interest. Now it's just sales tax?
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02-12-2009, 08:07 AM | #9 | |
Drives: 1971 Monte Carlo/2010 Camaro 2LT Join Date: Sep 2007
Location: Macomb Township, MI
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Quote:
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) |
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02-12-2009, 08:09 AM | #10 | |
SS Lightning
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You have to realize, its hard out here
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Quote:
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02-12-2009, 08:24 AM | #11 |
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I would love to complain, but I will take it. It is much better than nothing or a sharp stick in the eye.
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02-12-2009, 08:25 AM | #12 |
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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...
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02-12-2009, 08:33 AM | #13 |
Booooosted.
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02-12-2009, 08:45 AM | #14 |
Delivered 29June09
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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! |
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