If you were hoping to get the tax credit on a hybrid vehicle, you’re still in luck. Although tax credits have ran out on all Honda and Toyota hybrids, the credit is still good on Ford’s Fusion hybrid and Mercury Milan hybrid.
If you purchase either of these cars, you’ll get a $3,400 tax credit from the federal government. According to a statement from Ford, this is the highest credit amount ever offered for hybrids purchased or placed in service after December 31, 2005.
Other Ford and Mercury hybrid vehicles qualify for a tax credit as well. The chart below lists the amount of the tax credit you’ll receive for each hybrid during certain purchase dates.
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Jan. 1, 2009 – March 31, 2009
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April 1, 2009 – Sept. 30, 2009
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October 1, 2009 – March 31, 2010
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April 1, 2010 and later
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2010 Fusion Hybrid
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$3,400
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$1,700
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$850
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$0
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2010 Milan Hybrid
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$3,400
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$1,700
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$850
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$0
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2009 Escape Hybrid FWD
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$3,000
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$1,500
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$750
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$0
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2009 Escape Hybrid 4WD
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$1,950
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$975
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$487.50
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$0
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2009 Mariner Hybrid FWD
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$3,000
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$1,500
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$750
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$0
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2009 Mariner Hybrid 4WD
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$1,950
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$975
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$487.50
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$0
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Basically, you have to buy one of these cars before March 31, 2009 to get the full tax credit. Since Ford reached the 60,000 vehicle threshold in the fourth quarter of 2008, the tax credit amounts are reduced by 50 percent beginning in the second quarter of 2009 and by an additional 25 percent beginning in the fourth quarter of 2009.
The Ford Escape Hybrid qualifies for up to a $3,000 tax credit.
