It's official, as of March 30th the feds have announced a great new vehicle buying incentive. Brought to you by the exploiters of the buzz word "stimulus", you now have another great reason to get that new ride.
So how does this new program benefit you, the buyer? Well first off it gives you an excellent tax break on not only a new car purchase. This tax break applies to essentially anything with a vehicle identification number. So, if you have been looking for a new motorcycle or motor home, you qualify for this as well.
The only way you don't qualify is if your adjusted annual gross income is over $135K. Now most the people I know make less than that, so it's safe for me to say that this is for people that deserve a break on buying a new car!
You must also purchase the new vehicle after February 16th of 2009, but before January 1st of 2010. The deduction is good for up to $49,500 of the new vehicle purchase price. Being that the average new car cost $30k, I think most will benefit.
To find out more simply visit the Internal Revenue Service.