In August, Honda sold its 60,000th hybrid vehicle. That means the clock has started ticking on the phase-out, and eventual end, of credits for people who buy a Honda hybrid. Hybrid tax credits were part of the Energy Policy Act of 2005.

The 2007 Accord Hybrid qualifies for a $1,300 credit and the Civic Hybrid for $2,100. (Some earlier models still qualify technically for the credit, but it’s only for the vehicle’s original owner; credits are not available for pre-owned cars.)

However, the Energy Policy Act sets a limit on the number of hybrids eligible. Once an automaker sells its 60,000th hybrid (all hybrid models combined), the tax credit begins to fade.

In each case the consumer must take delivery of the vehicle, not just sign a contract. Here’s how it works:

Between now and Dec. 31, consumers may claim the full tax credit.

Between Jan. 1, 2008, and June 30, 2008, consumers get 50 percent of the original credit.

Between July 1, 2008, and Dec. 31, 2008, consumers get 25 percent of the original tax credit.

On Jan. 1, 2009, there will be nothing left but regrets.

Toyota was the first automaker to run out of credits. As of Sept. 30, credits will no longer be available on the Toyota Prius, Highlander Hybrid and Camry Hybrid, or on the Lexus GS 450h and RX 400h.

In addition to Honda, full credits are available from Ford, General Motors and Nissan. Before doing anything, it may be wise to check with your tax preparer.