The U.S. federal government’s Car Allowance Rebate System (CARS) stimulus plan, also known as Cash for Clunkers, is expected to kick off today, July 24.
If you own an old light-duty truck, such as a 2000 Chevrolet S-10, you can qualify for a $3,500 voucher if the new light-duty truck that replaces it has a combined fuel economy rating of at least 18 mpg and gets at least 2 mpg higher than the old truck. If the mileage of the new truck is at least 5 mpg higher, the voucher will be $4,500. The old truck has to be a 1984 model or newer.
If you own an old large light-duty truck, such as a 2000 Ford F-150, you can qualify for a $3,500 voucher if the new large light-duty truck that replaces it has a combined rating of at least 15 mpg and gets at least 1 mpg higher than the old truck. If the mileage of the new truck is at least 2 mpg higher, the voucher will be $4,500. The old truck has to be a 1984 model or newer.
If you own a 2001-model-year work truck or older, such as a 2000 Dodge Ram 3500, you can qualify for a $3,500 voucher for a new work truck or trade down to a large light-duty truck. There’s no mileage requirement on these trucks because the EPA doesn’t require fuel-economy ratings on heavy-duty pickups. And, that’s the Cash for Clunkers program.
The program guidelines can be found at cars.gov. The funding for that program runs out on Nov. 1, but it isn’t the only federal cash-for-cars deal on the table. Through 2009, the IRS also allows new-car buyers to deduct the sales and excise taxes they pay on their cars, even if they don’t typically itemize deductions.
If you understand the program as I’ve outlined above, it’s simply a trade your old car in and you get a voucher if the new car you buy qualifies under the program. This is simply a subsidy for the car industry. This is big business, going to the government and asking for another bail out at our expense.
For the brain dead, you are going to pay for this, whether you participate in this or not. Do you honestly not see that they are not going to take up a collection from charitable car enthusiast and keep that fund separate to fund this program. No, everyone, young or old, blind cripple or crazy, is going to pay for this government hand out.
It’s just another way to raise entitlements when we clearly don’t have the money to pay for the entitlements we have right now.
Why do i care?
- Because I’m going to pay the taxes
- I don’t have a car
- I’m subsidizing some other schmuck who can’t afford a car to begin with
- Idiots are going to turn in cars that are completely paid off and get a nice hefty bank loan
- Idiots are going to buy more car than they can afford
- CAR BUBBLE
If you have an old clunker and you were just about to buy a car, then by all means, go turn in the clunker and buy a car that’s just the amount of the voucher. Oh that’s right, there are no new cars that are $4,000. Awww shame. What’s the entry price of a car these days? $20,000? No no, I mean a car you would drive, not a car you’d show on paper to your dad, so he could cosign. I mean, a car with air conditioning, stereo, window defogger, electric locks, electric windows, a car you’d actually drive.