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Paul,
It's a tax deduction. When I had my Insight, it didn't do anything for me, because the minimum standard deduction was more than my itemized deduction including the hybrid tax credit.
Now, if you/someone has a lot to itemize, and have other deductions, then an additional $2k deduction can help greatly.
Also recall, the deduction isn't just one time. IIRC, it was $2k the first year, $1k the second and $500 the third. I might be mistaken, but you get it more than once.
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Matt J.
69 911T Targa - "Stinky"
2001 Boxster "Stahlgewehr"
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