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Feds May Pay You To Trade In Your Clunker

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Posted

Washington — Congress is mulling a proposal to pay people to get rid of those old gas guzzlers sitting in their driveways.

Under legislation introduced Wednesday in both the House and Senate and called the “Cash for Clunkers” program, drivers could get vouchers of up to $4,500 when they turn in their old, fuel-inefficient vehicles for scrapping and buy vehicles that get good gas mileage.

If this passes, I am the first one in line. I could use a new car.

http://www.ajc.com/news/content/news/stories/2009/01/15/clunker_trade_cash.html?cxntlid=homepage_tab_newstab

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Posted

What would they do with such an influx of Clunkers...

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Posted

free money!!! Yay!! :rolleyes:

The vehicles turned in must be drivable, registered in the United States and have a when-new fuel economy rating of less than 18 miles per gallon.

In the first year of the program, a person trading in a vehicle that is model year 2002 and later would be eligible to receive $4,500 for purchase of a new vehicle, $3,000 for purchase of a used vehicle or $3,000 for transit fare credit. For model year vehicles 1999 to 2001, drivers would get $3,000 for the purchase of a new vehicle. Those who trade in vehicles that came out in 1998 or before could get a credit of $2,000 for a new vehicle.

“This is an even better trade-in offer than they could get from any car dealership,” said Sen. Charles Schumer (D-N.Y.), also a co-sponsor.

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Posted

What about my fuel-efficient clunker? No?

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Posted

free money!!! Yay!! :rolleyes:

ugh :skep:

say it ain't so, chuck.

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Posted

Might be a better way to distribute the auto bailout money and provide an incentive to keep making fuel efficient cars at the same time?

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Posted

Might be a better way to distribute the auto bailout money and provide an incentive to keep making fuel efficient cars at the same time?

I might just think that would be an okay idea if it weren't for the fact that people are going to use the money to buy japanese cars.

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Posted

I would imagine that there would be a stipulation about the percentage of the car thats manufactured in the US or ownership percentage - no doubt this would be a tricky and politically charged idea.

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Posted

I have a huge problem giving someone with a suburban or a hummer or an expedition my tax money to get something new - esp a more recent model.

fixed...and me too.

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Posted

I might just think that would be an okay idea if it weren't for the fact that people are going to use the money to buy japanese cars.

As long as they are made in the US, thats ok with me.

It does make me wish I had waited a year to get rid of my old Mercury though.

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