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Cash for Clunker program is alive.User Forum Topic
Submitted by flu on May 5, 2009 - 12:12pm
Looks like the bailout/subsidies to continue. It appears that a bill to allow you to trade in a clunker for a new car is reaching agreement. $3500 if new car gets at least 22 mpg, or $4500 if new car gets 10mpg higher than the traded in clunker. Trucks also qualify. Interestingly, this applies to the purchase of a new car of all makes/models. Hmmm. The price of jalopies just went up...Time to go look for that old Chevy Nova.
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link: http://www.autoblog.com/2009/05/05/break...
What is the total price tag on this? I see the number as 1 million vouchers, or did I read that wrong and it is just an estimate? If so it is a 3.5-4 billion dollar give away to the auto industry. Why not? We are already cicle jerking the banks and the domestic auto industry, may as well include everyone. Whats another 4 billion or so?
Time to buy up some old vans for $800 and trade it in.
That was a bill supported by the auto industry. Another give-away.
Problem if that you need to buy a new car to get the credit.
http://money.cnn.com/2009/04/19/news/com...
Exactly what I was thinking. ...well if the rule is going to be you get a credit if the new car gets 22mpg OR if it gets 10mpg better than your older car.
If that's the case, getting that 10mpg old van might just make any new car you buy qualify.
Not everyone buying a new car has an older car that qualifies.
AN was onto something. This should prop up the values of old junkers. I should rent a lot, buy a bunch of old junkers that don't exceed $1500 in price. Start a business selling these old cars to individuals that are in the market for a new vehicle but don't have a trade-in that qualifies. Sell them a vehicle for $2500.
Makes sense. A vehicle worth only $500 now has a potential value of $3500 for a certain individual. If I had a car worth $3500 that would not qualify for the trade-in voucher, why would I trade it in? I would go buy the $500 car, trade it in, get the $3500 voucher, and sell my other car.
Who determines the mpg of the vehicles? Is the definition of mpg the same for the old junker as that of the new vehicle?
$3500-4500 is a lot for a trade in. A 2001 Mercedes C240 only fetch $2800-3600 at trade in.
As far as I understand, the way this law is written, your old clunker must be rated below 18 mpg combined (city+highway) to qualify. Chevy Nova and Mercedes C240 do not qualify.
If passed, this law will result in a massive flow of old beat-up cars across the border.
Time to dig up a old Rustang 5.0. The Nova so Eugene informs me is actually too gas efficient.
Dumb environmental question: What's going to happen to all the old cars traded in?
Supposedly they get junked.
http://money.cnn.com/2009/05/05/news/com...
If passed, this law will result in a massive flow of old beat-up cars across the border.
Aye...As much as I'd enjoy getting extra money to buy a new car, I think this is a terrible law.
Time to dig up a old Rustang 5.0. The Nova so Eugene informs me is actually too gas efficient.
No need for old Rustang 5.0. Just do a search on OLD chevy van (not minivan) w/ V8, no aerodynamic + V8 = horrible gas mileage :-). They also only go for around 700-800 bucks right now.
If passed, this law will result in a massive flow of old beat-up cars across the border.
Aye...As much as I'd enjoy getting extra money to buy a new car, I think this is a terrible law.
look on the bright side - it will greatly reduce CO2 emissions in Tijuana.
Does it need to be a running car? I know a couple of places where it seems that nonfunctioning autos are being used as either lawn decoration, or as 'paper' weights for dirt out back.
Careful man.
You're talking about the place I call home.
just trying to upgrade your neighboorhood man, just trying to help. :)
Hmmmm... I am looking at a new C63 AMG Benz which gets like 12 mpg. Anybody know of a trade in vehicle that gets 2 mpg.. maybe a van with a large hole in the gas tank?
Restrictions per MSNBC:
The vehicle must have a manufacturer suggested retail price of less than $45,000 and be a model year 2004 or later.
The vehicles turned in must be drivable, registered in the United States and have a when-new fuel economy rating of less than 18 miles per gallon.
In the first year of the program, a person trading in a vehicle that is model year 2002 and later would be eligible to receive $4,500 for purchase of a new vehicle, $3,000 for purchase of a used vehicle or $3,000 for transit fare credit. For model year vehicles 1999 to 2001, drivers would get $3,000 for the purchase of a new vehicle. Those who trade in vehicles that came out in 1998 or before could get a credit of $2,000 for a new vehicle.
Link:
http://www.msnbc.msn.com/id/28663037/
My car gets 17mpg city / 21 highway, which puts me over the 18mpg limit average for the trade-in. Drag. I could use a new car.
Toyota Corolla surpasses Ford Focus in 'cash for clunkers' sales
http://www.mercurynews.com/nationworld/c...
I was surprised to see Focus a leader for the past week. I was expecting Corolla or Civic (or one of the Korean economy cars) to be the leader.
The vehicle must have a manufacturer suggested retail price of less than $45,000 and be a model year 2004 or later.
The vehicles turned in must be drivable, registered in the United States and have a when-new fuel economy rating of less than 18 miles per gallon.
In the first year of the program, a person trading in a vehicle that is model year 2002 and later would be eligible to receive $4,500 for purchase of a new vehicle, $3,000 for purchase of a used vehicle or $3,000 for transit fare credit. For model year vehicles 1999 to 2001, drivers would get $3,000 for the purchase of a new vehicle. Those who trade in vehicles that came out in 1998 or before could get a credit of $2,000 for a new vehicle.
Link:
http://www.msnbc.msn.com/id/28663037/
My car gets 17mpg city / 21 highway, which puts me over the 18mpg limit average for the trade-in. Drag. I could use a new car.
If they water this down I think there be much less interest, 2K for the 98 or older cars will not get many people off the couch (unless they were already planning on getting a car).
Plus I think many dealers are already seeing this as a God send and are jacking up the car prices or ending previous incentives, so it’s a wash for the car buyer.
Maserati clunker to be crushed
A 1985 Maserati BiTurbo with 18,480 miles on it will be crushed under "Cash for Clunkers" rules. KUSA reports.
http://www.cnn.com/video/?/video/us/2009...
Couldn't he have replaced the engine with nice 350ci V8?
I might have paid him $4k to use it as a lawn ornament!