Clunkers

[leitha2006]

Quote:
You get the scrap value!

 

[beak]

Rules are

1.Must be 1988 or newer.
2. Must be currently licensed.
3. Must be owned by person buying the new car.
4. Must be drivable.
5. Must get under 18 avg mpg.


If you buy a new car that gets 1-9 mpg better avg mpg you get 3500 against your new car. If your new car gets 10-20 better you get 4500

The 1 billion lasted for 1 week. 1 billion injected directly in to the auto industry. If you figure 4000 as an avg that is 250,000 cars actually sold vs just giving the money to the guys at the top. Inventory sold and money going in to economies where the dealers are. To me it is money much better spent than the Wall street bail out. It is part of the stimulus.

Congress has approved 2 billion more. Money well spent.

 

[KatyTheChickenLady]

Quote:
thank you for a concise explaination

 

[Sillystunt]

Guess i will keep the VW Vanagon camper. Sleeps 4, stove, sink and fridge! 19MPG
SIGH

 

[redhen]

Do you have to trade it in and get another car? or can you just get the money?

 

[beak]

It's supposed to help the dealers so you have to buy a new car. I saw Hyundai advertising their cheapest bare minimum car for 7000 something after the 4500 rebate.

 

[BluegrassSeramas]

A lady I work with did this. Traded her old (late 80' s early 90's?) Van in and got a new car. She had been saving for a new car since they have finished paying for college and weddings for thier kids and she drove this crappy van the whole time. This really was helpful to her because she was in the market for a new car and there was no way that she could have gotten 4,500 for that van. Hope it works for more people!