Cash for Clunkers passed by Congress

[rh71]

http://finance.yahoo.com/news/...ec=topStories&pos=main

Supporters said the program, which would be implemented by the Transportation Department, was expected to be implemented by early August.

Under the proposal, car owners could get a voucher worth $3,500 if they traded in a vehicle getting 18 miles per gallon or less for one getting at least 22 mpg. The value of the voucher would grow to $4,500 if the mileage of the new car was 10 mpg higher than the old vehicle. The miles per gallon figures are listed on the car window's sticker.

Owners of sport utility vehicles, pickup trucks or minivans that get 18 mpg or less could receive a voucher for $3,500 if their new truck or SUV got at least 2 mpg higher than their old vehicle. The voucher would increase to $4,500 if the mileage of the new truck or SUV was at least 5 mpg higher than the older vehicle.

Dealers participating in the program would receive an electronic voucher from the government for the trade-in to apply to the purchase or lease of a qualifying vehicle. The bill directs dealers to ensure that the older vehicles are crushed or shredded to get the clunkers off the road.

 

[Bignate603]

My van gets 19 mpg combined according to the EPA. It would have been nice to turn that into a payment towards a new car.

 

[cheesehead]

I know a guy with an old Corolla that gets about 15MPG city.

Mind you, most of the fuel never sees the engine....

EDIT:

If I read this right:

1. Buy big van for $500 on Craigslist. Even if it only works in 1st gear and has no floor.
2. Take big van in two months to dealer.
3. Buy car.
4. Save $4500 on car.

 

[thegimp03]

Only a 4 mpg increase and I could save $3,500 on a new car? Hahaha. How's that going to save the planet?

 

[coxmaster]

IIRC.. Its been a bit since i read over this so forgive me if im wrong.

1- You have to have had the car for 1 year+ to qualify.
2- The dealer you trade the car in to gets the money not you.. So they are basically giving you that amount in discount.

 

[LS8]

Seems like a piece of "feel good" legislation that our Congressmen and Women can brag about with very few people actually being able to use it. It should have never been passed to begin with. Great work, Congress!

 

[Engineer]

Originally posted by: LS8
Seems like a piece of "feel good" legislation that our Congressmen and Women can brag about with very few people actually being able to use it. It should have never been passed to begin with. Great work, Congress!

This.

Most of the dealers always state the "push, pull or drag" it in and we'll give you $2,000. Now you can push, pull or drag it in and the government will give the dealers up to $4,500 and I'm sure they will try their best not to give you another discount (as usual).

Failed piece of legislation, IMO.

 

[cheesehead]

Originally posted by: LS8
Seems like a piece of "feel good" legislation that our Congressmen and Women can brag about with very few people actually being able to use it. It should have never been passed to begin with. Great work, Congress!

You can move from an old gas guzzler to a new gas guzzler and get $4500.

Worst. Legislation. EVAR.

 

[KentState]

What is the MPG based on? Is it on the current EPA standards for the used car? The article makes it sound like that the increase is based on the EPA mileage of the new car. Plus, is this based on city, highway, or combination of the two?

 

[LTC8K6]

EPA combined at fueleconomy.gov

I think my 95 Taurus 3.8L misses by 1 mpg...

The car has to have been insured by you for a year. They want cars that are being driven, not junkers.

Unless your vehicle is worth less than the voucher, it makes little sense.

You only get the voucher discount. You get nothing for trade in value because the vehicles are being destroyed, so there is no trade in value.

 

[LTC8K6]

Well, I miss by 2 mpg.

Seems hard to find a car that qualifies...unless it's an older V8 auto tranny.

 

[ChaoZ]

Dammit, stop giving away my money.

 

[rh71]

Works for someone like me... my 14mpg suv is 14 years old and we're looking at a minivan... it would get 19mpg or thereabout. What they set out to do is accomplished, because I wouldn't have done this "now" otherwise. I still see a lot of that generation SUV out on the roads too.

 

[cheesehead]

Originally posted by: rh71
Works for someone like me... my 14mpg suv is 14 years old and we're looking at a minivan... it would get 19mpg or thereabout. What they set out to do is accomplished, because I wouldn't have done this "now" otherwise. I still see a lot of that generation SUV out on the roads too.

I was thinking it was for vans and pickups.

If you go from a big old van (13MPG) to a new Ford Transit (~24mpg) you're looking at $4500. Same applies to a Tacoma and just about any large pickup truck with an automatic and a V8.

 

[exar333]

Originally posted by: ChaoZ
Dammit, stop giving away my money.

This.

 

[thomsbrain]

Welfare for SUV owners. I'm a liberal and even I think this is complete bullshit.

 

[lupi]

the fucking pieces of shit. legislation unless you have a truck (year doesn't really matter for full size models cause of the lax gas standard) as the fuel requirements means most cars not 20 years old won't qualify.

Originally posted by: LTC8K6
Well, I miss by 2 mpg.

Seems hard to find a car that qualifies...unless it's an older V8 auto tranny.

you can go to the epa site and look at entire classes of cars as far back as 94. outside of expensive or large engine luxury models or exotic sports cars, virtually no non-trucks from 84 on qualify for this as written.

 

[LTC8K6]

Yeah I am quite familiar with the fueleconomy site. Looks like Crown Vics qualify. I'm sure other big V8 cruisers also will.

I doubt this is going to benefit folks as much as it seems. The dealer is probably not going to budge on the replacement vehicle if he's getting $4500, so you may not do as well on the deal as you might have.

The dealer is going to take $4500 off the sticker and that's it. Which will be perfectly legal. He will get $4500 dollars and still make more money off of you.

 

[rh71]

Originally posted by: LTC8K6

I doubt this is going to benefit folks as much as it seems.

You can't have everything. We have people bitching at SUV owners [for wanting to move to more efficient vehicles no less] while others wish they could be in their shoes for this. They really shouldn't have named it "clunkers" if they really meant just the poor fuel mileage vehicles since that is the major caveat. Now everyone thinks they *should* qualify as long as their car isn't new. This isn't a bailout... people are still going to be spending $25k+ on a new vehicle when they really don't have to. It's not some big gov't conspiracy that they don't have your common G35 included in this. A new minivan probably won't even get the 20mpg that does, which goes to show you 1) 20mpg is good enough for a car and 2) SUV/minivan people for practical purposes still need these vehicles that in their current form just aren't capable of much more efficiency, hence the lower requirements. With that said though, I think the 2mpg gain is a joke... it should be +5mpg minimum.

 

[cheesehead]

A friend of mine has been trying to sell his old Firebird for $2500 to fund a new family car. (His choice, not mine.)

Now he can trade it in for $4500.

I wonder if he can use it to buy a used car?

 

[ElFenix]

so what you're saying is that shitty old hoopties are now worth up to $4500?

 

[lupi]

Originally posted by: Cheesehead
A friend of mine has been trying to sell his old Firebird for $2500 to fund a new family car. (His choice, not mine.)

Now he can trade it in for $4500.

I wonder if he can use it to buy a used car?

only if it's a v8; all the way back to 1985 the v6 and v4 models are too fuel efficient to qualify.


yeah, this legislation is that screwed up.

 

[lupi]

Originally posted by: ElFenix
so what you're saying is that shitty old hoopties are now worth up to $4500?

as long as it has a v8 you've got a good 75% chance. aka, the 1986 lincoln continental....is too fuel efficient. :roll:

 

[Dr. Detroit]

I have a 3.4L DOHC V6 in my Cutlass (our 4th car) and it qualifes at a combined 18mpg.

Since my daughter will start driving in 1 1/2yrs I'm thinking of doing the trade.

Sales Tax is also fully deductible this year and Hybrid credits can add another $1700 on.

Finding a 28mpg combined car with an auto trans is not the easiest. Even the Focus only gets 27mpg combined.

 

[lupi]

Originally posted by: rh71

Originally posted by: LTC8K6

I doubt this is going to benefit folks as much as it seems.

You can't have everything. We have people bitching at SUV owners [for wanting to move to more efficient vehicles no less] while others wish they could be in their shoes for this. They really shouldn't have named it "clunkers" if they really meant just the poor fuel mileage vehicles since that is the major caveat. Now everyone thinks they *should* qualify as long as their car isn't new. This isn't a bailout... people are still going to be spending $25k+ on a new vehicle when they really don't have to. It's not some big gov't conspiracy that they don't have your common G35 included in this. A new minivan probably won't even get the 20mpg that does, which goes to show you 1) 20mpg is good enough for a car and 2) SUV/minivan people for practical purposes still need these vehicles that in their current form just aren't capable of much more efficiency, hence the lower requirements. With that said though, I think the 2mpg gain is a joke... it should be +5mpg minimum.

actually if you read the press clipping it is a bailout cause if the automakers don't start moving vehicles off the lot it doesn't matter how much money the government gives them they'll still end up tanking.

And there looks to be 3 models of the G35 over the last 6-7 years that would qualify for this program