Comments on Saving to Inve$t: The End of the 2009 Cash for Clunkers Used for New...

Looks like the Cash for Clunkers program is going ...

2009-07-31T13:48:08.186-04:00

Looks like the Cash for Clunkers program is going bust afte going through it's $1 Billion budget? What do you know about this....

The White House and the Transportation Department declined to comment on the program’s status - which suggests that they really have run out of money! The person who estimated the costs for this program shoul be fired!
Transactions Honored

Luckily all transactions that have taken place so far under the clunkers program are bring honored - but you better get in by this weekend to take advantage of the program!

The National Highway Traffic Safety Administration, which is running the program, said yesterday that 22,782 vehicles worth $95.9 million had been sold. However other estimates are putting it at 200,000 vehiciles! I smell a scam here.

July 22 (Bloomberg) -- Chrysler Group LLC is offer...

2009-07-22T22:28:28.330-04:00

July 22 (Bloomberg) -- Chrysler Group LLC is offering new-car buyers as much as $4,500 in cash, doubling the potential savings for customers who use a U.S. program to get less fuel-efficient cars off the road.

Customers who get the maximum $4,500 credit for a trade-in under the federal “cash-for-clunkers” initiative will reap a $9,000 benefit, the Auburn Hills, Michigan-based automaker said in a statement today. The incentive runs from tomorrow through Aug. 31 and covers most 2009 Chrysler, Dodge and Jeep models.

Chrysler’s offer takes effect alongside the $1 billion U.S. Car Allowance Rebate System and includes buyers who don’t tap government aid. The company’s 46 percent drop in first-half domestic sales was the deepest among big automakers in the U.S., damped by the recession and its April 30 bankruptcy filing.

“It’s a smart move, and I’m sure we’ll see this from other automakers,” said Jeremy Anwyl, chief executive officer of auto-research company Edmunds.com in Santa Monica, California.

No. The voucher is meant to offset the trade in va...

2009-07-12T17:29:18.477-04:00

No. The voucher is meant to offset the trade in value…You cannot claim both (only the one that is greater). From the offical CARS site:

In addition to the credit, will I get the full value of my trade-in vehicle?

Answer: No. The law requires your trade-in vehicle to be destroyed. Therefore, the value you negotiate with the dealer for your trade-in vehicle is not likely to exceed its scrap value. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle.

Thank you for your article "$4500 used for new car...

2009-07-12T17:25:38.423-04:00

Thank you for your article "$4500 used for new car subsidy in the proposed cash-for- clunkers program". I am wondering if i trade in my qualifying vehicle will i also get a trade in value for it and the voucher for the dealer? For example if i trade my truck (trade in value $5000.00) that gets 16 mpg for a new Honda Fit that gets 27 mpg i would qualify for the $4500.00 voucher. Would the dealer give me $5000.00 for the trade in AND get a $4500.00 voucher?

To clarify, the Senate still has to vote on the bi...

2009-06-10T17:39:51.946-04:00

To clarify, the Senate still has to vote on the bill. Their version of the bill contains three major differences.

1. The maximum fuel economy of the trade-in vehicles, which is 17 miles a gallon.

2. There are three voucher amounts ($2,500 to buy a new car that gets at least seven miles a gallon more, $3,500 for 10 m.p.g. more and $4,500 for 13 m.p.g. more).

3. The Senate bill also offers a provision for buying a used car.

Only when the senate and house both approve the bill (and president signs), will the voucher be available. This could take another 2-3 months.

I believe this subsidy will help us a lot. They mu...

2009-05-13T23:28:00.000-04:00

I believe this subsidy will help us a lot. They must apply it to used cars and low emission cars.

But may people in the US struggle with significant...

2009-04-20T14:36:00.000-04:00

But may people in the US struggle with significant non-mortgage debt right now. I can see this program being helpful if it applies to used cars that also have low emissions.

Used car theft is going to sky rocket before this....

2009-04-20T14:12:00.000-04:00

Used car theft is going to sky rocket before this. A 91 civic goes for about $3K now. So if a theif were to steal that, they could actually make a 2K proft. Thanks Uncle Sam!