Buying Soon!

Welcome aboard!

Good choice since you can get a Federal tax credit up to $4000 on the Clarity!
Make sure the sales price is under $25K to qualify.

As for transferring HondaLink, make sure you get a Honda dealer to do this.

If I was buying a vehicle now, I'd have a 3rd party independent mechanic take a look at hidden damages & water damage as flooding was a major issue throughout the USA.

4sallypat said:

Welcome aboard!

Good choice since you can get a Federal tax credit up to $4000 on the Clarity!
Make sure the sales price is under $25K to qualify.

As for transferring HondaLink, make sure you get a Honda dealer to do this.

If I was buying a vehicle now, I'd have a 3rd party independent mechanic take a look at hidden damages & water damage as flooding was a major issue throughout the USA.

Click to expand...

Talk me through that, is the service bonded to a previous owner, or is it just to make sure it works properly? What steps do ai need to be aware of, if you don't mind.

4sallypat said:

Welcome aboard!

Good choice since you can get a Federal tax credit up to $4000 on the Clarity!
Make sure the sales price is under $25K to qualify.

As for transferring HondaLink, make sure you get a Honda dealer to do this.

If I was buying a vehicle now, I'd have a 3rd party independent mechanic take a look at hidden damages & water damage as flooding was a major issue throughout the USA.

Click to expand...

And is that 25K with tax or pre-tax?

H54 said:

And is that 25K with tax or pre-tax?

Click to expand...

The HondaLink is easier to transfer from a previous owner to the new owner if you go thru a Honda dealer.
The app works thru the owner's email address so only a Honda dealer can change it to you.

As for the $25K limit on IRS 25E for the $4K tax credit you have make sure the selling price on the contract is $25K or less as the dealer will submit the info to the IRS at the end of the year.
You also have make sure you have enough tax liability (W2 employee).
If you self employed then you may not claim the credit next year.
Check with your CPA or tax prep person.

It should be before taxes, fees, and shipping.

more details can be found at PluginAmerica.

Well, I have 2018 Touring with 40,000 miles on the way. I’ll pick it up next Saturday.

4sallypat said:

The HondaLink is easier to transfer from a previous owner to the new owner if you go thru a Honda dealer.
The app works thru the owner's email address so only a Honda dealer can change it to you.

As for the $25K limit on IRS 25E for the $4K tax credit you have make sure the selling price on the contract is $25K or less as the dealer will submit the info to the IRS at the end of the year.
You also have make sure you have enough tax liability (W2 employee).
If you self employed then you may not claim the credit next year.
Check with your CPA or tax prep person.

Click to expand...

As mentioned, if one does not have taxable income that will result in a $4k tax liability for the year, one cannot take the full $4k credit. One can take a partial credit, though. It cannot be carried over to a later year. Use it, or lose it, in the tax year of the vehicle purchase.

There is a somewhat creative way to circumvent this limitation, IF one's taxable income doesn't support a $4k Fed tax liability for the year in which the vehicle was purchased...AND you're retired: Do a Roth conversion of funds in a regular 401k or IRA, for an amount that will yield a $4k tax liability. Then you can claim the entire $4k tax credit, and the Roth conversion won't cost anything.