I was looking to buy a new car until ...

[screembloodymurder]

I heard about this new "Cash for Clunkers" bill being introduced in Congress. Now, I'm going to wait until I know how to take advantage of what could be a substantial ($7,000) credit. Until this bill is passed or clarified, it has the potential to postpone sales. Congress had better act fast or they risk destroying the automobile industry's best season.

How many other "would-be-buyers" will put off making their purchases?

[thecrow]

1. More information would be helpful .....

:)

[DainBramaged]

2. It could be from $3000 to as much as $7000 for a hybrid on cars over 8 years old

and they should include "used" cars from 2009 and newer.


New scrappage bill introduced in House


A bill introduced yesterday in the U.S. House of Representatives would give consumers between $3,000 and $5,000 through the 2011 fiscal year if they turn in aging vehicles in favor of more energy-efficient transportation options.

The bill, written by Rep. Betty Sutton, D-Ohio, would give vouchers for buying new vehicles or using mass transportation in exchange for scrapping vehicles that are at least eight years old. The vehicles purchased would have to be from the 2009 model year or later and have better gas mileage than the car scrapped. Cars also would have to achieve at least 27 mpg on highways, and light trucks would have to achieve 24 mpg. More fuel-efficient cars and those assembled in the U.S. would qualify for higher voucher amounts.

The bill is the third scrappage incentive proposed in Congress this year.

The measure is supported by the Detroit 3 and the UAW, but as was the case with the first two bills, the Alliance of Automobile Manufacturers doesn't support it as written. Its opposition stems from unequal treatment of automakers, a spokesman Charles Territo said.

The bill's introduction comes a month after Germany's new-car sales jumped 21.6 percent. In February, Germany instituted a voucher worth 2,500 euros, or about $3,260, for scrapping vehicles more than nine years old.

Last month new-car sales in western Europe declined 17.7 percent from February 2008, according to J.D. Power and Associates.

Sutton's bill would give a $3,000 voucher for using mass transit, up to $4,000 for buying vehicles assembled outside North America and up to $5,000 for buying vehicles assembled inside North America or any registered work vehicle. Qualifying vehicles would require a suggested manufacturer's price of $35,000 or less.

Starting with the 2011 model year, the bill also would allow consumers to receive a $7,500 cash voucher for purchasing a plug-in electric hybrid that gets at least 100 mpg.

http://www.autonews.com/apps/pbcs.dll/article?AID=/20090318/ANA02/903189986/1197

[ejpoeta]

4. sounds like a good incentive program. there are probably a lot of folks

who would love to get a more efficient car, but simply can't afford it. Before my van we bought a year ago, I never had owned a car newer than 10 years old. some were pretty good on the gas mileage. some weren't. but i really like the incentive to electric hybrid.

[liberal N proud]

3. I would like to know more

I have a 9 year old car and have had the itch to trade for more than a year but not the cash. $7000 plus all the 0% interest would be tough to pass up.

[rfranklin]

5. However, the price of the hybrid will eat up that $7000...

So you would be doing it for the good of the planet rather than any financial advantage.

[BobRossi]

6. Isn't that the point of the incentive?

Maybe I'm mistaken, but isn't the point of the incentive to spur on car sales and not to be a hand-out?

[liberal N proud]

15. Been considering a hybrid anyway

Simply for the plant.

Hybrid is not the best option but it is the one they are making available at this time.

[taterguy]

7. What would stop you from buying a clunker just to get the incentive?

Seems like a decent idea but one with a lot of problems as far as actually implementing it is concerned.

And of course I find it more than a little annoying that my 15 year old bicycle wouldn't be eligible for any dough from the government.

[screembloodymurder]

8. This needs immediate action or it should be scrapped.

These bills are hurting sales, because people will wait to make their purchases.

[DainBramaged]

10. No they won't, because we are the minority when it comes to news.

Do you really think the public is as well informed as we are????

[screembloodymurder]

12. When it affects their own pocketbook, people pay attention.

Those in a position to buy a new car are probably paying attention and even if it only affects 10% of sales, it's a drag on an already sluggish economy.

[DainBramaged]

9. you can't buy a clunker please read my previous reply

Look past your nose.

REPLY #2

[Duckhunter935]

11. I think I am going to buy 1000 clunker to get ready.

[taterguy]

13. The text of your post doesn't say when the vehicle you trade-in has to be purchased

There might be something in the link but that requires registration

[DainBramaged]

17. The article is posted in full, why is ths so difficult????

Call your congresscritter and ASK for the text of the bill.

[BR_Parkway]

21. What's to stop someone from buying a $500 clunker to trade in

and get the $4-5,000 credit? I don't currently own a car, so if I wanted to buy one, seems like an available option to me.

I guess it still serves the purpose of taking the $500 clunker off the road - I wonder what the car dealers are supposed to do with them once you trade them in?

[Liberal In Texas]

14. Texas already has a program like this. There are income limits.

INCOME LEVELS

These are the maximum incomes for people eligible for the program:
Size of household / Maximum annual net income

1 $32,490
2 $43,710
3 $54,930
4 $66,150
5 $77,370
6 $88,590
7 $99,810
8 $111,030
Over 8
Add $11,220 for
each additional member

VEHICLE CONDITIONS

Your vehicle must meet these conditions:

• Failed an emissions test,
• Registered in your participating county area for at least 12 months preceding application, and
• Passed a Texas motor-vehicle safety and emissions inspection within 15 months of your application and driven under its own power to the automobile dealership.
-OR-
• At least 10 years old and gasoline powered,
• Driven under its own power to the automobile dealership,
• Registered in your participating county area for at least 12 months preceding application, and
• Passed a DPS motor-vehicle safety inspection (if more than 24 years old) or safety and emissions inspection (if 24 years old or less) within 15 months of application.

• $3,000 for a car, current model year or up to three model years old
• $3,000 for a truck, current model year or up to two model years old
• $3,500 for hybrid vehicle, current or previous model year

As you can see, you can't just go out and but a junker and trade it in for a rebate.
Also, the income levels make it less likely that a qualifying family could even afford to buy a new car.
So, if you need a new car would it really be worth the wait to see if and when a bill is passed that you might qualify?

http://www.tceq.state.tx.us/implementation/air/mobilesource/vim/driveclean.html

[DainBramaged]

18. Why is everyone so fucking negative about this

Screw you all, I'm going home.

[Liberal In Texas]

20. How was my post negative?

I'd love to trade in my "hanger queen" for a better more efficient car. But we make too much money for the program.

[CANDO]

16. I'm waiting for electric cars.

eom

[GoCubsGo]

19. That's is not what is holding me back....

I need a job before I can buy a new car. That being said, mine current ride probably qualifies as a "clunker". I just hope it holds out until I can afford to replace it, tax credit or not...