The government offers tax credits of up to $7,500 to those who purchase hybrid electric vehicles such as the Chevy Volt. Word that demand for the vehicles has far outstripped supply has led some to speculate that dealers may be selling the cars to each other in order to take advantage of the tax break.
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That really doesn't make much sense to me.
ReplyDeleteWhen a dealer purchases from another dealer, the sold price isn't even noted on the title. In the spot where the price is listed, it's marked RESALE.
With this, I can't see where they would be able to get any of the tax breaks referred to.
In order to get the tax break, you have to show a bill of sale and the transfer of the vehicle to an individual.