There are two tax credits available for new car purchasers!
BMW Advanced Diesels are eligible for the IRS
Alternative Motor Vehicle Tax Credit.
Colorado BMW Advanced Diesel Drivers Rejoice!
Purchasers of the 335d will qualify for a maximum tax credit of $900 while purchasers of the X5 xDrive 35d will qualify for a maximum tax credit of $1800
*Please consult your tax adviser for details.
2009 BMW 335d
| | Diesel Model | Gas Model (GL450) |
| Powertrain |
3.0L 24-valve I6 |
3.0L 24-valve I6 |
| Maximum Torque |
425 lbs/ft @ 1750 rpm |
300 lbs/ft @ 1400 -5000 rpm |
| Maximum Horsepower |
265 hp @ 3800 rpm |
300 hp @ 5800 rpm |
| City Fuel Economy (mpg) |
23 |
17 |
| Highway Fuel Economy (mpg) |
36 |
26 |
| |
* Fuel requirement: Ultra-low sulfur diesel |
2009 BMW X5 xDrive35d
| | Diesel Model | Gas Model (GL450) |
| Powertrain |
3.0L 24-valve I6 |
4.6L 32-valve V8 |
| Maximum Torque |
425 lbs/ft @ 1750 |
350 lbs/ft @ 3400-3800 rpm |
| Maximum Horsepower |
226 hp @ 3800 rpm |
350 hp @ 6300 rpm |
| City Fuel Economy (mpg) |
19 |
14 |
| Highway Fuel Economy (mpg) |
26 |
19 |
| |
* Fuel requirement: Ultra-low sulfur diesel |
New Car Tax Credit
Yet another reason why now is the perfect time to purchase a new BMW automobile from Gebhardt BMW!
Special Tax Break Available for New Car Purchases This Year!
Due to the American Recovery and Reinvestment Act of 2009 The Internal Revenue Service announced today that taxpayers who buy a new passenger vehicle this year may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns next year.
“For those thinking about buying a new car this year, this deduction may give them a little more drive to make their purchase this year,” said IRS Commissioner Doug Shulman. “This deduction enables taxpayers to buy now and get cash back later on their tax returns.”
The deduction is limited to the state and local sales and excise taxes paid on up to $49,500 of the purchase price of a qualified new car, light truck, motor home or motorcycle.
The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers.
IRS also alerted taxpayers that the vehicle must be purchased after Feb. 16, 2009, and before Jan. 1, 2010, to qualify for the deduction.
The special deduction is available regardless of whether a taxpayer itemizes deductions on their return. The IRS reminded taxpayers the deduction may not be taken on 2008 tax returns.
*Leased vehicles do not qualify.
*Please consult your tax adviser for details.
