Cash for Clunkers

"This is an emergency for families and small businesses -- for an industry that has been the backbone of our economy for a generation," said Sen. Debbie Stabenow, D-Mich., who sponsored the proposal.

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.

LTRT wrote:Senate Passes "Cash for Clunkers" Program
http://autos.yahoo.com/articles/autos_content_landing_pages/1008/senate-passes-cash-for-clunkers-program/;_ylc=X3oDMTE5djJwcmo2BF9TAzI3MTYxNDkEc2VjA2ZwLXRvZGF5BHNsawNjYXNoLWNsdW5rZXJz

"This is an emergency for families and small businesses -- for an industry that has been the backbone of our economy for a generation," said Sen. Debbie Stabenow, D-Mich., who sponsored the proposal.

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.

'97 F-150 Lariat: 12-13 mpg, paid for with cash.

2009 Ford F150 (4x4)- $42,610
Dealer: Dimension Ford Lincoln Mercury
EPA Fuel Economy:
City: 14 – 15 Highway: 18 – 20

2009 Ford F150 Lariat (4x2)- $32,525
Dealer: Dimension Ford Lincoln Mercury

So the options are to grab the gov't's $3500 and finance $28,500 - $38,500 or stick with what I have. The sad thing is they'll be a bunch of takers, just like when they hear that phrase from car dealers "we'll pay off your loan".

My $3500 is up for grabs to the first willing board member.

Markwes wrote:Hey, what do you know? Another dumb idea brought to us by our Congress.

Cincy, my understanding is this applies to new vehicle purchases only.

Bman wrote:

Markwes wrote:Hey, what do you know? Another dumb idea brought to us by our Congress.

Cincy, my understanding is this applies to new vehicle purchases only.

Stimulating the auto industry and raising fuel standards are a dumb idea?

LTRT wrote:

Bman wrote:

Markwes wrote:Hey, what do you know? Another dumb idea brought to us by our Congress.

Cincy, my understanding is this applies to new vehicle purchases only.

Stimulating the auto industry and raising fuel standards are a dumb idea?

Financing $25k and above when probably a majority of people driving those "clunkers" can't afford it is?

Bman wrote:

LTRT wrote:

Bman wrote:

Markwes wrote:Hey, what do you know? Another dumb idea brought to us by our Congress.

Cincy, my understanding is this applies to new vehicle purchases only.

Stimulating the auto industry and raising fuel standards are a dumb idea?

Financing $25k and above when probably a majority of people driving those "clunkers" can't afford it is?

The banks and CU should make that determination NOT you.

Bman wrote:

LTRT wrote:

Bman wrote:

Markwes wrote:Hey, what do you know? Another dumb idea brought to us by our Congress.

Cincy, my understanding is this applies to new vehicle purchases only.

Stimulating the auto industry and raising fuel standards are a dumb idea?

Financing $25k and above when probably a majority of people driving those "clunkers" can't afford it is?

The banks and CU should make that determination NOT you.

Bman wrote:The $3,500 or $4,500 is making me think about trading my SUV in if I can convince them it does not get the required mpg ... I would love an extra $4,500 down on my next vehicle, an Avalon.

Cincy Fan 44 wrote:

Bman wrote:

LTRT wrote:

Bman wrote:

Markwes wrote:Hey, what do you know? Another dumb idea brought to us by our Congress.

Cincy, my understanding is this applies to new vehicle purchases only.

Stimulating the auto industry and raising fuel standards are a dumb idea?

Financing $25k and above when probably a majority of people driving those "clunkers" can't afford it is?

The banks and CU should make that determination NOT you.

Yes, because that worked so well for the housing industry.

Seriously, how long until we start hearing about how people can't afford their car payments anymore and are having their new vehicles repo'd...and then they're back driving a "clunker" they can afford???

Cincy Fan 44 wrote:

Bman wrote:The $3,500 or $4,500 is making me think about trading my SUV in if I can convince them it does not get the required mpg ... I would love an extra $4,500 down on my next vehicle, an Avalon.

What are you gonna do? Put 85 octane in it and reduce your tire pressure by half and hope they don't notice?

Jul 30 07:39 PM US/Eastern
By KEN THOMAS
Associated Press Writer

WASHINGTON (AP) - Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.
The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.

Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns of large backlogs in the system, prompting the suspension.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

floridafun wrote:so the deal was a stupid fail on obamas part because folks came out in droves and took advantage.

i will add that to my list of all the obama awful big gov things..like killing seniors and the unborn--worldwide!!!-- on his new healthcare IF it contains a public option (except of course fed money already contributes to abortions internationally with NO public plan in place as a choice for all. and the killing of seniors is actually offering them the opportunity to create living wills is they want one).

oh..and of course he was born in kenya, pals around with terrorists, and hates white people. wow i gotta rethink this supporting obama thing..

LTRT wrote:AP sources: Govt to suspend 'cash for clunkers'
http://www.breitbart.com/article.php?id=D99P2U9G1&show_article=1

Jul 30 07:39 PM US/Eastern
By KEN THOMAS
Associated Press Writer

WASHINGTON (AP) - Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.
The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.

Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns of large backlogs in the system, prompting the suspension.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Hahahaha, what a joke. You think they could suspend giving away some of that stimulus money for turtle tunnels? Yeh right...

Bman wrote:Why is it a joke seems like it was more succesfful than thougoht ... we should pump another 2-3 Billion in to the program.

LTRT wrote:

Bman wrote:Why is it a joke seems like it was more succesfful than thougoht ... we should pump another 2-3 Billion in to the program.

A program of this kind isn't defined as a success by how many individuals desire its use.

Edit:
LOL, Bman gets the psychic award for the day.

Cash for clunkers gets another $2 billion
http://money.cnn.com/2009/07/30/autos/cash_for_clunkers_suspended/index.htm