Quote:
Originally Posted by TaKid455
Is the 7500 rebate, cash in your pocket or 7500 off credit off your gross income tax. in that event it would only be 750-2000 depending on your tax bracket. Not really enough to offset the cost of a new car vs maintaining your decent condition old car. IMO. They did a similar thing w/ 1st time home buyers and the 8k tax credit.
for 41k, one could buy a decent F body of any vintage and afford a few motor and suspension builds.
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It's a $7500 credit at tax time. You pay full price up front, then apply the $7500 credit when you do your taxes for that year (Much like the first time homebuyers $8000 credit from a couple years ago).
- Justin