EVANSVILLE, IN (WFIE) - If you've been waiting to buy a car now may be the time.
It hasn't been discussed that much but hidden in the 2009 stimulus package was a new car tax credit.
It says that if you buy a new car, light truck, motorhome or motorcycle this year, between February 17 and December 31, the state or local sales taxes may be deducted on your 2009 tax returns.
The car has to be new and the credit is limited on cars up to $49,500.
On a more expensive car, you can deduct up to that amount.
There is a limit on what you can claim; $135,000 per person or $250,000 per couple.
And, if that's not enough, here's two more reasons to buy now.
1. Dealers need your newer used cars. They are worth more and Cash for Clunkers depleted the supply.
2. Manufacturers incentives are better than they've ever been.
There's reason to feel good about the economy!
The fed declared the recession over and consumer confidence in December showed growth, again.
Here's to a better 2010!