Comments on: Is a Tax Credit Your Motivation to Buy? http://www.soundmoneymatters.com/tax-credit-motivation/ How to Manage Money More Easily Wed, 10 Mar 2010 04:45:02 -0800 http://wordpress.org/?v=2.9.1 hourly 1 By: Carnival of Personal Finance #211: Burn Notice Edition http://www.soundmoneymatters.com/tax-credit-motivation/comment-page-1/#comment-2584 Carnival of Personal Finance #211: Burn Notice Edition Tue, 30 Jun 2009 12:03:35 +0000 http://www.soundmoneymatters.com/tax-credit-motivation/#comment-2584 [...] Sound Money Matters looks into the new tax credits available and asks, Is a Tax Credit Your Motivation to Buy? [...] [...] Sound Money Matters looks into the new tax credits available and asks, Is a Tax Credit Your Motivation to Buy? [...]

]]> By: Aryn http://www.soundmoneymatters.com/tax-credit-motivation/comment-page-1/#comment-2566 Aryn Wed, 24 Jun 2009 17:02:23 +0000 http://www.soundmoneymatters.com/tax-credit-motivation/#comment-2566 Kerri, if I were in your position and already planning to buy a car, I would do exactly what you're doing. I considered buying used, but the cars I like cost almost the same used as new. Kerri, if I were in your position and already planning to buy a car, I would do exactly what you’re doing.

I considered buying used, but the cars I like cost almost the same used as new.

]]> By: Kerri http://www.soundmoneymatters.com/tax-credit-motivation/comment-page-1/#comment-2564 Kerri Wed, 24 Jun 2009 13:15:35 +0000 http://www.soundmoneymatters.com/tax-credit-motivation/#comment-2564 I would say Yes and Yes to the new car tax deduction and Cash for Clunkers, but I think I'm among the .01% of people for whom these two programs are a complete benefit. 1) My car has 100,300 miles on it. Fine if it's a Honda, but it's a 2002 Chevy SUV so it's probably close to its last legs anyway. 2) I live in Texas where we don't have state income taxes so it's a no brainer to claim the sales tax deduction. 3) My current car qualifies for the Cash for Clunkers program and all the new cars I was considering anyway fall into the mpg range that would get me the max $4,500 voucher. Being a Boglehead, I was looking only at used cars but with both of these combined I can get a new car for the same price as used cars with 5k-10k miles on them. So, unless I'm missing something, is there a reason I wouldn't buy a new car this year? I would say Yes and Yes to the new car tax deduction and Cash for Clunkers, but I think I’m among the .01% of people for whom these two programs are a complete benefit.

1) My car has 100,300 miles on it. Fine if it’s a Honda, but it’s a 2002 Chevy SUV so it’s probably close to its last legs anyway.

2) I live in Texas where we don’t have state income taxes so it’s a no brainer to claim the sales tax deduction.

3) My current car qualifies for the Cash for Clunkers program and all the new cars I was considering anyway fall into the mpg range that would get me the max $4,500 voucher.

Being a Boglehead, I was looking only at used cars but with both of these combined I can get a new car for the same price as used cars with 5k-10k miles on them. So, unless I’m missing something, is there a reason I wouldn’t buy a new car this year?

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