Squeeze gold from that rust bucket
Cars.com’s “Kicking Tires” blog reports that President Obama has urged the automobile industry to adopt an incentive program called “Cash For Clunkers.” In order to attract more new car buyers, automobile manufacturers would offer greater trade-in value for older, less fuel-efficient vehicles.
Bills introduced in the Senate in January and House in March are in need of funding, according to Obama. They would be the engines to provide prospective new car buyers with vouchers worth up to $7,500. The theory is that what the government will pay is more than what can be obtained via normal trade-in – a real cash advance for those of us who are sitting on a less than desirable old car. Not only would this voucher be good toward the purchase of a new, more fuel-efficient vehicle, but it could also be applied to vouchers that can be used to access public transportation.
Going green
Republican Senator Susan Collins of Maine is a major supporter of this double-fisted package of legislation. She says it “would help reduce dependence on foreign oil.” It would operate for four years and, in a coup for green living and the environment, is projected to remove as many as a million vehicles from the roadways each year. To encourage fuel efficiency, new car buyers who want to use the voucher program would have to purchase a vehicle that exceeds federal guidelines by 25 percent and is 2004 or newer.
Cars.com is unsure as to the exact numbers regulators would be using to determine fuel efficiency, as we’re not sure which numbers regulators would use to determine fuel efficiency, because Corporate Average Fuel Economy (CAFE) figures are generally still not published on window stickers.
Big auto wants a boost in new car sales
To sort through the confusion, multiple sources feel that what the Obama administration will do is release a list of new (or newer) vehicles that will be eligible under the Cash For Clunkers voucher program. Unfortunately, car makers would like to see such a program apply only to purchasing new vehicles – since it helps their bottom line most – but the interest in used cars isn’t going away. At least it helps them clear inventory…
President Obama said Cash For Clunkers “would be retroactive to today.” What does this mean? Cars.com isn’t sure, since there is currently no voucher plan in effect. Their guess is that any car purchased from this day onward would count. Apparently, you could then take your old car in for a voucher after the fact? But then what would that apply to if you’ve already purchased a new car? Stay tuned…
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Sure wish this had been around when I had my first car, that’s for sure. I could have finally gotten a little money out of it, as opposed to how much it got out of me. If this encourages more people to get better vehicles, then it seems like a good idea.
I’m interested in the program and voucher, I would like to know more information about this.
Please contact me, I would love to purchase a Toyota Camry hybrid.
Thank you
Mr. Julius Allen
If Obama actually does do this, i will trade mine in, otherwise my old bucket suits me fine
does any body know which car dealers are participating in the Obama’s clunker program. please help.
This program sounds very beneficial to Americans at this time of crisis.
Just tell me when and where to leave my 1994 Lexus and my 1991 Camaro. Both are in good shape with good bodies. Even better, can you publish detailed instructions, in the daily newspaper, on what one has to do exactly to get this voucher for their cars. I can surely use it for a better car.
I don’t qualify because my car already gets good gas mileage. But my dad swears by the car buying process here:
http://excarsalesman.typepad.com
I have a feeling dealers are going to automatically increase prices because of the increased demand (artificial) for great MPG cars. So the thousands of savings from this bill for consumers is not entirely accurate.
With the price increase, I’m certain some markets you’ll come out even as if they never offered this voucher. It is poorly written legislation.