Let’s see… I buy a hunk a junk for $50 and get a voucher for $3500-4500? Sounds good to me!
The vehicle scrappage bill has been under negotiations for months as lawmakers try to find a solution that boosts car sales while providing some environmental benefits. Proponents have pointed to similar programs in Europe that have enhanced auto sales.
[...]
Separately, House and Senate appropriators were discussing providing $1 billion to a supplemental war funding bill for the “cash for clunkers” program, which aims to generate about one million new auto sales. Since the yearlong vehicle program is expected to cost $4 billion, lawmakers would attempt to find the additional money later this year.Under the House bill, 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 miles per gallon. The value of the voucher would grow to $4,500 if the mileage of the new car is 10 mpg higher than the old vehicle. The miles per gallon figures are listed on the window 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 is 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 is at least 5 mpg higher than the older vehicle. Consumers could also receive vouchers for leased vehicles.
And then there’s Israel.
We have children running the asylum. Throw a dart and whatever square it hits is the plan of the week. What a pitiful creature we have in the White House.
2 mpg higher is worth $3.5k?
That’s nuts. It should be an incentive to trade your SUV in for a car, especially if you live in any metro area and never drive on dirt.
It wasn’t more than a couple years ago that liberals were crying about the debt load that was being created for our grandchildren.
Funny how times change…..
Just when you thought congress couldn’t get any stupider…
You lot are hilarious. Perish the thought you actually read something. Like the bill.
Wow! My Expedition is now worth $3500 more?
That makes it $3502 for a trade-in…
More Green Tyranny. Why should we subsidize Green preference for lawn mower cars?
U drive what you like, we drive what we like, let free Americans decide what is best for them, without punishing free choices.
We don’t like the tiny, dangerous cars…like GM will soon be making.
#7,
Doesn’t matter. It’s still worth $3500 more now.
Thank you, Uncle Obama!
#8 I was reacting to the Israeli plan…which no doubt Obama will copy.
Reading that last paragraph it seems like you will not get the added value for your trade in. You would only get 3500/4500 for your vehicle.
The dealer has to destroy your vehicle so your trade in is worth 3500/4500 no matter what the value of the car is.
Also, the car has to be registered and in use for a year. That part seems to have been left out of this article.
#11 “Also, the car has to be registered and in use for a year.”
Define in use for a year. If I drive it around the block once a year does that count?
Well I made money on my pickup truck. I’m at 11 mpg now. If I go up 5 mpg a year I can drive a new junker every year for the next 2 years.
I would love to get a new car but this program won’t help me. My ’82 Toyota get’s 30+ mpg. Hey Congress, throw me a bone.
I can’t wait for this to go into effect. I hate my 1990 truck and can’t wait to get something newer. I only paid $3600 for it 8 years ago so I will end up making money on this and get something that gets a lot better mpg.
How are they going to verify the mpg of your current car? I can say it gets anything I want to.
Government supported sub-prime auto loans? Great.
#15….
http://fueleconomy.gov/Feg/findacar.htm
ha, so basically I think this will create a huge black market for old crap cars. I go give some poor old guy with a piece of crap car that does not run, $500 to hold the title, while I buy a new car and get $3500 credit. Then I buy the new car from the old guy.
I’m sure the dealers are going to be real strict on the rules considering how cars are flying off the lots these days.
CLASH??? Editor!!!!!!!!!!!!!!!!!!!!!!
[I loved The Clash! Oh, well, fixed. -- UD]
Porsche GT2!!! $3500 will get me a leather covered hand brake lever!!!
really!