(Photo: wgba.images.worldnow.com)

If you were worried like we were that Cash For Clunkers was suspended due to lack of funds, worry not. It’s halfway to being extended, thanks to a House vote that approved $2 billion more dollars for the program. Now the program might last… a couple more weeks!

Because people are all over this deal

After that, you may need payday loans with no faxing or other short term loans to make up the difference the $3,500 or $4,500 Cash For Clunkers would have brought you with an approved trade-in. But for now, it appears that Cash For Clunkers may be extended. So long as your car’s not on the Cash For Clunkers list and meets the general qualifications, you can apply for the trade-in credit.

But will the Senate agree?

Aaron Smith reports for CNN that the House voted 316-109 to divert $2 billion from a U.S. Department of Energy program loan guarantee program. What will Secretary of Energy Steven Chu think of this? Furthermore, will the Senate be able to come to a consensus quickly? People want those cars they can’t really afford, you know…

Considering the overwhelming response to the Cash For Clunkers program (and tremendous activity on the less-than-able Cash For Clunkers Website), it’s no shock that the government has so far responded with urgency.

Obama is happy with the vote

“I’m pleased about the progress made in the House today about the cash for clunkers program,” said President Obama just before the approving vote. He has presented the Cash For Clunkers program as a stirring success: “I’m happy to report that it has already succeeded beyond our expectations. It’s working so well that there are legitimate concerns that the original funds might already be exhausted.”

But for your information, this wouldn’t have been a problem if the original $4 billion proposal for Cash For Clunkers had been instituted. But whoever said government was good at getting things right the first time?

Is this thing right?

Despite the obvious demand for Cash For Clunkers exceeding the supply of money, the CARS.gov Web site still showed that $780 was available for the program as of the morning that talk of suspending the program began. Again, getting things right the first time is rare. Yet I’m surprised that the government did not anticipate how many people would jump at this shiny new automobile program that’s sure to send many consumers closer to bankruptcy.

At least dealers are remaining cautious. More and more of them are requiring people to sign statements that they’ll return their new cars if government funding dries up. Which it still may do if the Senate cannot agree on the $2 billion extension.

Does my car qualify for Cash For Clunkers?

Think first... can you afford a new car, even with Cash For Clunkers? (Photo: westcoastsuccesswordpress.com)

Everyone wants to know. So you should know that vehicles that have been bought after July 1, 2009 are eligible for refund vouchers of either $3,500 or $4,500, depending upon how much of a mpg improvement the consumer can make with a new vehicle. If your car gets 18 mpg (combined highway and city) or less and is younger than 25 years old (and does not appear on the list I mentioned in the second paragraph above… CLICK HERE), it may just be eligible for Cash For Clunkers. Follow the link for more details.

The overall goal of the Cash For Clunkers program is to spark sales in the sagging auto industry while getting more fuel-efficient, greener vehicles on the road, thus saving consumers money on gas and helping the environment. It comes at the perfect time for America’s domestic automobile industry, as the credit crunch of the recession and massive bailouts have damaged confidence in its viability. CNN cites sales figures for June 2009, with fell to 9.7 million. That, according to CNN, is well below the pace of years past.

If you need your own personal short term bailout, to the tune of short term loans and payday loans with no faxing, apply here now!

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No more CARS? (Photo: unclesamsauntie.com)

America needs strong, decisive action from its government that will restore consumer faith in the economy. One of the vehicles President Obama had planned to use to help those of us who are hamstrung by the high cost of gasoline was the Cash For Clunkers program, also known as CARS (Car Allowance Rebate System). With it, people would be able to trade in their older gas guzzlers for new, more fuel-efficient vehicles. It would save consumers money and help the environment.

But after about a week, it appears that Cash For Clunkers will be suspended. This is not inspiring news, Mr. Obama. May I please be allowed to have my cash advances and payday loans now? I’ll need that money to make a down payment on a car Cash For Clunkers was supposed to help me afford!

Cash for Clunkers suspended?

Elisabeth Leamy and Mike Callahan report for ABC News that Congress is currently scurrying about like nervous field mice, looking for a way to funnel more money into Cash For Clunkers, which has proven to be more popular than the government had anticipated. The $1 billion set aside for CARS may not be enough.

Really? You didn’t think people would like the program? You didn’t think that people who truly afford these new high mpg vehicles would still overextend themselves with fat monthly payments? It’s what Americans do.

Still running… on empty

White House spokesman Robert Gibbs says Cash For Clunkers isn’t suspended, but “is up and continuing to run.” But cash advances must flow into the program soon, as Congress begins their recess… today!

The original plan for Cash For Clunkers was for it to continue through November 1, 2009 or until the money was gone. However, the government’s estimate was that each participating dealer who be able to complete up to 12 CARS transactions. Yet that estimate has proven to be ridiculously low, as some dealers processed as many as 250 Cash For Clunkers deals within the first few days of the program. That’s more than 20 times above what the government was expecting. Now dealers are rushing to push their apps through before Cash For Clunkers is suspended.

The Department of Transportation says “scrap it”

In fact, they were on the verge of pulling the plug. Cash For Clunkers would’ve been suspended, but the White House stepped in at the last moment to buy some time.

“We are working to assess the situation facing what is obviously an incredibly popular program,” Gibbs said. “Auto dealers and consumers should have confidence that all valid cars transactions that have taken place to date will be honored.”

Yet the CARS Web site – www.cars.gov – showed $779 million remaining. Sounds like creative accounting to me. But the Web site is still running and displays no news about the program being suspended as of this writing. Dealers are still running their Cash For Clunkers commercials, too.

Dealers on the hook

Oh, did I mention the Web portal dealers have to use has been crashing almost constantly? So there’s a backlog of at least 25,000 transactions that dealers have made but the government has not yet approved. What will happen if the government shuts this thing down? Car dealers are in enough of a mess as it is.

“It’s up to the dealership now to get it’s money back, and that’s where the fear lies,” said one dealership owner to ABC News. “Customers are on the road but now we’re on the hook for the rebate.”

In light of this danger, some dealers are requiring that customers sign an agreement where they’ll return their new cars if government funding disappears. There are already plenty of cars that the EPA disqualified at the last second. Happy campers, get ready to pitch your fits!

WWCD (What Will Congress Do?)

Some senators have argued that while it may be possible to procure the cash to keep Cash For Clunkers going, there needs to be tougher standards put into place as to what vehicles will be eligible. In a joint statement, Sens. Dianne Feinstein of California (Dem.) and Susan Collins of Main (Rep.) said the following:

We will insist than any extension of the program requires that the minimum fuel economy improvement for newly purchased vehicles be at least two miles per gallon higher than it is under the enacted clunkers program. It is also important to include lower-income consumers who are disadvantaged under the current program. So, we would also include a voucher for the purchase of fuel-efficient used vehicles.

Cash For Clunkers guidelines (for now)

1. If you own a car from 1984 or later that gets 18 combined highway and city miles per gallon or less, you may qualify for the Cash For Clunkers – if it’s not suspended!
2. If it starts and has been registered and insured within the past year, you may qualify for the Cash For Clunkers – if it’s not suspended!
3. If the new vehicles gets four more miles per gallon than your clunker, you get $3,500 from the government – if Cash For Clunkers isn’t suspended!
4. If the new vehicles gets 10 more miles per gallon than your clunker, you get $4,500 from the government – if Cash For Clunkers isn’t suspended!
5. An SUV, minivan or small pickup only needs an mpg bump of two to five – if Cash For Clunkers isn’t suspended!
6. The new vehicle just cost less than $45,000 – unless Cash For Clunkers is suspended!

I believe I’d still need cash advances or payday loans for the down payment. If I were buying, I’d get those loans right here. Give it a try, won’t you?

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Is your vehicle one of the 78 the EPA made ineligible? (Photo: rundeautochat.wordpress.com)

If you’re the owner of one of the cars on the following Cash For Clunkers list, I’m sorry. You’re simply out of luck if you had planned to take advantage of the up to $4,500 voucher good toward the purchase of a new, more fuel-efficient car or truck. Perhaps now you’ll be needing payday loans with no faxing or other short term loans in order to make the down payment on a new car. If so, Personal Money Market may be able to help you.

USA TODAY reports that the Environmental Protection Agency (EPA) made these changes behind the scenes, just before the Cash For Clunkers program 2009 was about to begin. They have expressed no remorse over any difficulty they may have caused consumers. In fact, they have justified their last second changes by saying that they were operating under a deadline where the first day of the program for consumers was their “drop dead” date.

By way of review

For those of you who don’t know, Cash For Clunkers is a government program that enables consumers to trade in cars that are not fuel efficient (18 mpg or less combined city and highway driving) and are less than 25 years old. Acceptable trade-ins next consumers $3,500 or $4,500 for a new vehicle that gets at least 10 mpg more than their trade-in car or truck.

Here’s the hit list

There are more than 70 different cars that have fallen by the wayside when it comes to the Cash For Clunkers list. Thanks, EPA! I’ll separate the vehicles here by year for your convenience:

1987 Vehicles

Alfa Romeo GTV
Alfa Romeo Milano
BMW 5 Series
Chevrolet S10 Blazer 2WD
Dodge Caravan/Grand Caravan/Ram Van 2WD
Dodge Shadow
Ford Aerostar Van
Ford LTD Crown Victoria
Ford LTD Crown Victoria Wagon
GMC S15 Jimmy 2WD
Lincoln Continental
Lincoln Mark VII
Lincoln Town Car
Mercury Grand Marquis
Mercury Grand Marquis Wagon
Plymouth Sundance
Plymouth Voyager/Grand Voyager 2WD
Porsche 944
Toyota Truck 4WD

1988 Vehicles

Mazda 929
Peugeot 505 Sedan
Toyota 4Runner 4WD

1989 Vehicles

Mazda 929
Peugeot 505 Sedan
Porsche 911 Carrera

1990 Vehicles

Audi 80 Quattro
Dodge Caravan/Grand Caravan/Ram Van 2WD
Plymouth Voyager/Grand Voyager 2WD
Saab 9000
Toyota 1-Ton Truck 2WD
Toyota Truck 2WD

1991 Vehicles

Audi 80 Quattro
Dodge Caravan/Grand Caravan 2WD
Dodge Ram 50 Pickup 2WD
Lexus ES 250
Mitsubishi Truck 2WD
Plymouth Voyager/Grand Voyager 2WD
Toyota Camry
Toyota Camry Wagon

1992 Vehicles

Acura NSX
Dodge Caravan/Grand Caravan 2WD
Dodge Ram 50 Pickup 2WD
Jeep Cherokee 4WD
Jeep Comanche Pickup 4WD
Mitsubishi Truck 2WD
Plymouth Voyager/Grand Voyager 2WD
Saab 900

1993 Vehicles

Dodge Ram 50 Pickup 2WD
Dodge Stealth
Jeep Comanche Pickup 2WD
Mitsubishi 3000 GT
Mitsubishi Truck 2WD
Toyota Camry
Toyota Camry Wagon

1994 Vehicles

Mazda B2300/B3000/B4000 Pickup 2WD
Mazda MPV
Mitsubishi Diamante Wagon
Volkswagen Corrado SLC

1995 Vehicles

Kia Sportage 2WD
Mazda MPV
Toyota Tacoma 2WD

1996 Vehicles

Jeep Cherokee 2WD
Nissan Truck 2WD
Toyota Supra
Volkswagen Jetta GLX

1997 Vehicles

Chrysler Concorde
Chrysler New Yorker/LHS
Dodge Intrepid
Eagle Vision
Kia Sportage 4WD
Mercedes-Benz C36 AMG
Nissan Truck 2WD
Toyota Supra
Toyota T100 2WD
Volkswagen Jetta GLX

Is your car on the list?

If so, and you need payday loans with no faxing or short term loans to make up the difference, apply here for a loan and see if we can serve your needs!

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