goshjup

My situation is as follows:

I ordered a car and it will be in around Jan 11 2010. Its probably built already and lets assume the dealer has the VIN at hand. I want to purchase the vehicle before end of december to get the $3000 tax write off and the current audi deals.

Is this possible?

u2jrmw

A dealer told me they could seal up financing as soon as they have a VIN. What that means for the tax deduction I am nopt sure.

NJRoadFan

You likely need a bill-of-sale with the delivery date to get the write-off, otherwise you risk an audit. Also note that the write-off is strictly for the sales tax paid on the vehicle. http://www.irs.gov/newsroom/article/...211310,00.html

wanderer1980

But how often does Audi have these incentives, like the special finance rates, and the loyalty cash? Will they not come round quick enough so that you do not have to rush?

goshjup

$3000 tax break on sales tax will most likely be this year only and 2.9% and they pay the first payment sounds like a very good deal to me. I just want to lock it in if possible.

Financing isn't too important to me because I will pay it off in 2 yrs or less but the other factors are bonus's right now.

wanderer1980

Oh, sorry, I missed your point about the tax break! That is so very important to know!!!

However, please check that the tax break does apply to you. There is an income limit - I thought that it was a good idea too, until I checked and found out that there was an income limit and I did not qualify.... sigh!

dk1

You should ask the dealership if they accept full payment now. I don't see why not. Now, you are dealing with 2 different entities here - the government for the write-off and Audi for incentives. You might be able to lock in the deals; again, ask your dealer. For the write off you can pretty much claim whatever you want on your tax return but you need to have proof in case of an audit. Make a photocopy of your bank check and get a receipt from the dealership. In case of an audit you can bring these and try to pass them instead of the bill of sale. The way I see it the worst thing that can happen is that you would owe the deduction back - a few hundred $$. Hiding your income is bad while trying to get a deduction that is in a "gray" area is not a big deal.

AofC_RR

Sorry I don't think that's going to work. Your car has to be on the ground and through PDI to contract on it. IE do paperwork. If the car is not due in till next month you may be out of luck unless it's in by the 5th when the current programs expire. Audi would most likely catch that.
It would be another thing if the car was on the ground some where and was being trucked in from another dealer. I've done that many times.

goshjup

Got the OK to prepay for the car before the end of the year. Delivery date is Jan 11 2010. Excited. I just have to have the vehicle insured at the time the paperwork is done.

AofC_RR

Lol this should be interesting.....