Tax Breaks for Green Cars

published 1 September 2007

Best Values in Clean Cars SLIDE SHOW: Earth-Friendly Autos Scorecard The Simple Solution: Gas Sippers

The Toyota Prius used to top the tax credit list, but Congress in its inscrutable wisdom limited the full credit for hybrids to the first 60,000 vehicles sold by a manufacturer. In the phaseout of the break, credits for Toyota and Lexus hybrids have been halved and halved again. If you buy a Prius before October 1, 2007, you'll be eligible for a $787.50 credit. After that, you get nothing. Honda hybrid credits will be halved after December 31, 2007. For a complete list of credits, go to the Department of Energy's fueleconomy.gov Web site.

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Mark became editor of Kiplinger's Personal Finance magazine in July 2017. Prior to becoming editor, he was the Money and Living sections editor and, before that, the automotive writer. He has also been editor of Kiplinger.com as well as the magazine's managing editor, assistant managing editor and chief copy editor. Mark has also served as president of the Washington Automotive Press Association. In 1990 he was nominated for a National Magazine Award. Mark earned a B.A. from University of Virginia and an M.A. in Writing from Johns Hopkins University. Mark lives in Washington, D.C., with his wife, and they spend as much time as possible in their Glen Arbor, Mich., vacation home.