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Paul Harvey 
Group: Members
Posts: 2778
Joined: Aug. 2004
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Posted on: Aug. 01 2009,8:12 am |
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How about you shed some light on this program MD? How's it work. Can a person buy a $500 clunker and use that to get a $4500 break on a high mpg car?
http://www.albertleatribune.com/news....lunkers
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~I love trolling n00bs and pwning assholes~
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| Post Number: 2
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ICU812
Group: Super Administrators
Posts: 3244
Joined: Aug. 2003
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Posted on: Aug. 01 2009,9:31 am |
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Yeah, go buy a $500 car, insure it and hold on to it for a year, then go trade it in for your $4500. Bicycles don't count.
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| Post Number: 3
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Paul Harvey
Group: Members
Posts: 2778
Joined: Aug. 2004
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Posted on: Aug. 01 2009,9:46 am |
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Insurance is only $300 for the year. $3800 savings. Don't need to insure it if you don't drive it.
Again, I'm asking for MD's view, sorry IC.
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~I love trolling n00bs and pwning assholes~
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| Post Number: 4
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MADDOG
Group: Moderator
Posts: 7821
Joined: Aug. 2003
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Posted on: Aug. 01 2009,10:56 am |
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The program is extremely complicated. Naturally, the government put it together.
There are I believe 6 categories of vehicles and what you have v. what you want to buy all go into whether the vehicle or vehicles will qualify. Basically speaking though, you have to trade in a bigger vehicle for a smaller one. The amount you may qualify for depends on how many mpg better the new one will get. Vehicles over 8500 GVWR fall into another category all together.
The new vehicle has to be a 2009 and in a few instances, a 2008 might work. The $3500 or $4500 is based on which category vehicle you turn in compared to the category you are buying.
The rule of thumb is that if you have an old car you kept because it wasn't worth trading in a few years ago and you kept it because it is a good "run around" car that gets pretty good gas mileage, it doesn't qualify. The combined mpg for most of the cars, vans and light truck is 18mpg. That old Buick LeSabre for instance that you've had forever doesn't work.
Use this web site to compare the vehicle you have that you want to use as your "clunker" to the vehicle you are interested in buying.
cars.gov Click on the MPG ratings to put your vehicle(s) in to calculate.
In answer to your other question. If your vehicle qualifies, you must provide proof the vehicle has been in your name for a minimum of one year. You must also show proof that the vehicle was licensed and insured for the same period.
Provided the government extends this program. The dates of it are from July 23 to November 1, 2009.
My understanding is that the House has approved another $2 billion towards the program but it must still get through the Senate next week.
I am not an advocate of this program just as I was not for the billions the government gave the car industry earlier.
This is your tax money paying for roughly 250,000 people to buy cars for less money. Many or most of these people could easily afford the cars without this program, but obviously are going to take advantage of it.
The simple man who makes an average income will be paying for the upper middle and upper classes to get a discount for something "Average Joe" cannot afford. To top this off, they will not have to pay any federal income tax for the monies they received from the feds.
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Actually my wife is especially happy when my google check arrives each month. Thanks to douchbags like you, I get paid just for getting you worked up. -Liberal
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jimhanson
Group: Moderator
Posts: 8491
Joined: Aug. 2003
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Posted on: Aug. 03 2009,6:17 pm |
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QUOTE Again, I'm asking for MD's view, sorry IC.
ICU wasn't replying to YOU PH, he was replying to TTT! 
And G I L and BOTTO were replying to MINNOW!
There's an old joke about the multiple-personality psychiatric patient giving self-affirmation (no, NOT Stuart Smalley/Al Franken!)  He would say to himself "I'm OK, and so am I!"
In PH's case, it would be "You're OK, and so are YOU--and YOU--and YOU!"
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"If you want to anger a Conservative, tell him a lie. If you want to anger a LIBERAL, tell him the TRUTH!"
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| Post Number: 9
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hairhertz
Group: Members
Posts: 3489
Joined: Dec. 2004
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Posted on: Aug. 03 2009,6:27 pm |
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Big news in our local paper was a dad & his 16 year old kid buying a new Chrysler for the kid to drive to his junior year in high school. They traded in an F-150 toward it. The dad is loaded and the kid is the town star athlete.
Besides my money going to help some guy who can afford a car, buy a car, is that the money also applies to foreign car purchases. Is this right? How much of that government money goes to the dealer & stays in the USA? My gut reactions is that, if true, we are subsidising foreign competitors of our US made vehicles.
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metis movement
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| Post Number: 10
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