Cash for Clunkers Bill Passes Congress

[Darcy03231]

For those of you waiting, it has passed. It looks like it will apply to new cars purchased between 7/1/09 and 11/1/09 and the new car does not need to be a domestic car. It must cost less than $45,000.00 though. From what I've read it sounds like there are still some more details to be worked out, but it did pass.

 

[kydisneyfans]

My 2008 SUV that we use for vacation travel and a family vehicle is a clunker. My 2002 small car with the exhaust loose, service engine light on, and 212,000 miles on it is not.

I love this country!!!

 

[happygirl]

How many people can afford to buy a brand new car??

 

[DawnCt1]

This is a program that is begging for abuse. What a waste of $$$$.

 

[HakunaMatata2]

This is a program that is begging for abuse. What a waste of $$$$.

Very true!

 

[KristaTX]

I haven't heard anything about it. What is it about?

 

[Darcy03231]

I like how they coat-tailed it on to the war time spending bill.

 

[luvmy2sams]

Good grief!

 

[marshallandcartersmo]

I haven't heard anything either........details?

 

[Darcy03231]

I haven't heard anything about it. What is it about?

www.cashforclunkersfacts.com

Basically, if you have a car, truck, SUV that gets less than a certain gas mileage you can trade it in on a new car that get better gas mileage. Depending on the difference the government will give you a voucher for either $3,500 - $4,500, even though your car isn't worth that.

For instance my 2001 Isuzu Rodeo is worth about $3000. It gets less than 16 mpg. If I trade it in on a new car that gets at least 26 mpg I get the $4500 voucher. If I trade it in on a new car that gets at least 20 mpg I get the $3500 voucher.

President Obama still needs to sign it (which he's indicated he'll do) and there are some kinks to be worked out, but if you're in the market for a new car and have something older and not worth much, you could do pretty well.

 

[SAHDad]

www.cashforclunkersfacts.com

Basically, if you have a car, truck, SUV that gets less than a certain gas mileage you can trade it in on a new car that get better gas mileage. Depending on the difference the government will give you a voucher for either $3,500 - $4,500, even though your car isn't worth that.

For instance my 2001 Isuzu Rodeo is worth about $3000. It gets less than 16 mpg. If I trade it in on a new car that gets at least 26 mpg I get the $4500 voucher. If I trade it in on a new car that gets at least 20 mpg I get the $3500 voucher.

President Obama still needs to sign it (which he's indicated he'll do) and there are some kinks to be worked out, but if you're in the market for a new car and have something older and not worth much, you could do pretty well.

And, just as a note - the voucher replaces any trade-in value, and the "clunker" actually has to be destroyed, so they can't resell it.

 

[Handbag Lady]

Is the MPG based on what the manufacturer says or what my calculations say?

This is the first I've heard of this and I drive a 1995 Pontiac that says it gets 23 but it really gets 19.

I want to get a new convertible that would get about 27.

WOW, my trade-in would only be $800 on my current car. Hhhmmm, maybe this is for me?

 

[disney junky]

Who dreams up this stuff? Now I'm paying for my neighbor's house AND car.

 

[luvmarypoppins]

Good bye my 1992 van with no air conditioning and a kelly blue book value of about $700. It was nice being with you. Hmm, now to decide on what to get??

 

[happygirl]

I guess I mis understood. So you have a old car and you get a new one you get 4500

 

[BriarfoxinWA]

Hmmm so I could go buy a clunker for $500 and use it to get $4500 for a new car... sweet!

 

[FireDancer]

 

[Straitlover]

Hmmm so I could go buy a clunker for $500 and use it to get $4500 for a new car... sweet!

I have not seen the approved bill, but what I saw a week ago said the title would ahve to be in your name for at least 18 months in order to qualify just to prevent what you're talking about.

 

[Mickey527]

I refinanced my mortgage in December to lower my variable rate. In January they passed the law to help those who have high rates.
I bought a new car in April because my 97 buick was drinking gas like I drink margaritas. In June they pass the law to help those with gas guzzlers.
I can't get a break at all!

 

[shrubber]

I love when congress takes buckets of water from the deep end of the pool walks them over and dumps 'em in the shallow end and expects the water to rise