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Ardent Listener
15th January 2009, 19:55
Congress And Its Cash For Clunkers Bill
Posted By: Phil LeBeau
Topics:Recession | Congress | Marketing | Economy (U.S.) | Economy (Global) | Automobile Industry
Sectors:Oil and Gas
Companies:Toyota Motor Corporation | General Motors Corp | Honda Motor Company, Ltd. | Ford Motor Company





If there was ever a time to take the plunge and by that new, or at least newer car, this could be it.
Congress is considering a "Cash for Clunkers" bill that would give people a $4,500 voucher to trade in their "gas guzzlers" for certain fuel efficient models.
In my opinion this is the ultimate win/win for buyers, dealers, and the auto makers.
Buyers get help in buying a newer model that will get better mileage, and therefore help them save money. Granted, $4,500 ain't exactly winning the lottery, but it's something. With the economy in the tank, every little bit will help a lot people make the numbers work to buy a car.
Dealers benefit by having a new incentive program spur traffic. Yes, consumer confidence is still the main reason sales are depressed, but these vouchers could spark more showroom traffic and ultimately sales.
Auto makers would be helped by having a program that could push demand, especially for more fuel efficient models. With cars lasting longer, even gas guzzlers are holding up. Lately, that's made people say, "ok, I may not like this boat I'm driving, but it does the job for now."
The environment would also get a break as this program could take tens of thousands gas guzzlers off the street. By one estimate, the program could save 40,000-80,000 barrels of motor fuel a day at the end of the offer.
So what's the catch? There are several.
Your gas guzzler has to get fewer than 18 mpg.
The new or used model you are buying has to exceed the federal fuel economy rating for its vehicle class by at least 25%
The car you are buying can not cost more than $45,000
The new or used ride must be no older than a 2004 model.
And depending on whether you are buying a new or used model, and the year of the gas guzzler you are trading in, the amount of your federal voucher or tax credit would vary.
For example, some new people trading in a newer or more recent car will qualify for $4,500. By comparison, people ditching guzzlers made before 1998 may only get $2,000. Regardless, the amount of the voucher, people will get something.
So there you have it. You can trade in the beast, and save some money in the process.
Congress And Its Cash For Clunkers Bill
Posted By: Phil LeBeau
Topics:Recession | Congress | Marketing | Economy (U.S.) | Economy (Global) | Automobile Industry
Sectors:Oil and Gas
Companies:Toyota Motor Corporation | General Motors Corp | Honda Motor Company, Ltd. | Ford Motor Company



http://www.cnbc.com/id/28673870

skijake
15th January 2009, 21:17
How much for a horse?
Can Congress just take a break for a couple of years? They are killing us with kindness!:rolleyes:

Ardent Listener
15th January 2009, 21:28
I hope I'm not stepping on anyone's toes here, but those who bought the gass guzzles to impress their neighbors some years back now can get bailed out from them by the use of their neighbor's taxes. Only in America.

Ancona
17th January 2009, 14:42
Tax and spend is bad enough, but now we are spending without taxing. We borrow money from the rest of the world to fund our Government largesse. This is but another example of the asinine programs that will be flooding the system this year. Obama will have his hands full with the idiotic ideas floating around Congress. With people like Nancy Pelosi, Barney Frank and Harry Reid running things, we are likely to see massive welfare type programs designed to make the sheeple more dependent upon the Government for survival, as opposed to less dependent.

Until we grow up and become personally responsible for our own futures, we will continue down the path to complete ruin. We need LESS Government, LESS welfare and More personal responsibility.

If you bought a gas guzzler, then live with it or trade down. It is not now, nor will it ever be my responsibility to subsidize your stupidity through taxation. Altruism is not supposed to be a function of Government. Until they get the hell out of the lives of private citizens, we can never truly be a free people.