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I think this is actually one component of the stimulus that would give immediate boost to the auto industry... Germany saw a 40% increase in car sales and they are talking of extending their legislation until the end of the year.
1) It's going to destroy older cars that are still perfectly fine and paid for. I refuse to finance a new car. Deaperication is truly whacked with cars.
2) Who is going to pay to buy our cars?
3) Where are we going to get the money to finance the cars purchased with the vouchers? Credit is still frozen.
This sounds like exactly why Obama got elected, ... a lot of people thinking he was going to hand out money to all the undeserving people. If it hadn't been for all the people wanting handouts, BO would still be slinging hash in Illinois where he should be...
I think President Obama will look great, driving my old Dodge Intrepid (with it's missing front bumper) around the White House grounds (great photo op)!
Well, it looks as though this may happen before May 1st (Labor Day). If that happens President Obama may have my clunker by Father's Day!
Looks as though the maximum payout will be less than it would have been if this was allowed to stay in as part of the stimulus plan......
I may be wrong on this but I believe you will get a voucher for $4500.00 if you buy a vehicle that gets over 21.5 MPH or voucher for $3500.00 if you buy one that get less than 21.5 MPG.
I believe the intent is to help the companies manufacturing and selling cars in the U.S. ... but if it helps put more fuel efficient vehicles on the road, and if it helps people who need/want to replace an older vehicle but can't quite afford to do so, well, that all sounds fine to me. I've got a '99 Ford Escort I wouldn't mind replacing with an '09 Ford Focus.
"The Obama administration has signaled its support for a congressional effort that aims to boost the troubled car industry by subsidizing new cars sales for consumers who scrap old ones.
"Congressional Democrats, emerging from a meeting at the White House on Tuesday, said they had struck a deal on a bill to establish a one-year program to encourage the purchase of 1 million new cars and trucks that get better gas mileage.
"Under the so-called cash-for-clunkers legislation, consumers with old, gas guzzlers could get $3,500 or $4,500 in government vouchers to use toward the purchase of new cars that get gas mileage that exceeds the old car's by four miles per gallon."
I would have preferred a requirement for a bigger difference in fuel economy, but all-in-all, this could be a good deal for many Americans.
I was thinking of getting a Focus as well. Have you obtained any quotes on a new 09 Ford Focus? If you have what were they and on what Focus with what options? If not, what is you opinion on the price of the lowest cost Focus (I qualify for A/Z plan)?
I believe the intent is to help the companies manufacturing and selling cars in the U.S. ... but if it helps put more fuel efficient vehicles on the road, and if it helps people who need/want to replace an older vehicle but can't quite afford to do so, well, that all sounds fine to me. I've got a '99 Ford Escort I wouldn't mind replacing with an '09 Ford Focus.
I'm not sure that will qualify. Part of the language I saw was the the car being traded in needed to get 18mpg or less. Also some other language was that the car being traded in needed to get worse MPG than the car being bought. Obviously it's not finalized but I'm just saying don't get your hopes up - yet.
I don't even know what to say. This is despicable.
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