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- Daughters: Ages 34 & 32
- Grandsons: Ages 2, 2 & 17 months
- Work at home
- Group Leader
- CARS - The Clunker Rebate
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We have a clunker in the driveway, and believe me when I tell you that we are just itching to get rid of it. It gets just enough miles per gallon to get from one gas station to the next. At 7 miles per gallon, it has to go.
CARS (Car Allowance Rebate System - see http://www.cars.gov/) says that vehicles must be less than 25 years old on the trade-in date (we're getting close - it's a 1985), only purchase or lease of new vehicles qualify, trade-in vehicles must get 18 or less MPG, trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in, and dealers will apply a credit at purchase.
CARS runs through 11/1/09 (or when the funds are exhausted, whichever comes first). Other stipulations include the scrapping of the eligible trade-in vehicle, and that the dealer disclose an estimate of the scrap value of the trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate. What a deal!
Have you taken advantage of this program? Do you know of anyone who has? How smoothly did the process go? Tell us all about it!
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Go Green! Eat Lean! Live Clean! - Belle
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- Daughters: Ages 19 & 15
- Forest Hill, MD
- Work part-time outside home
- Helen-NotofTroy - August 10, 2009
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My cousin took advantage of this about two weeks ago. He traded in his old Ford Explorer for a newer Toyota Corolla. It was good timing for him since his three kids have all gotten their driver's licenses and he no longer needs to drive them everywhere. He said the whole process was a breeze.
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- Giggles_all_day - August 10, 2009
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No, I have not taken advantage of it and do not know anyone that has :(
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- Son: Age 32
- Oklahoma
- Work full-time outside home
- BroncosDad - August 11, 2009
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I object to the program. It targets middle class people. Poor people can't afford a new car, even with a $4,500 rebate. The program is aimed at increasing our debt. We've got a trillion dollar credit card debt, and the governments solution to the economy is to go deeper in debt! You'll notice that used car prices are rising quickly and dramatically due to the scrapping of the trade ins. Some of those vehicles are in good running condition, yet the dealer is required to put a solvent in the engine that essentially destroys it. It's a bad program, though many are taking advantage of it.
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"Denver Bronco's Fan since 1982"
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- Son: Age 6
- Daughters: Ages 3 & 3
- Stay at home
- CouponsCoach - August 11, 2009
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I object to the program. It targets middle class people. Poor people can't afford a new car, even with a $4,500 rebate. The program is aimed at increasing our debt. We've got a trillion dollar credit card debt, and the governments solution to the economy is to go deeper in debt! You'll notice that used car prices are rising quickly and dramatically due to the scrapping of the trade ins. Some of those vehicles are in good running condition, yet the dealer is required to put a solvent in the engine that essentially destroys it. It's a bad program, though many are taking advantage of it.
- By BroncosDad
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I object to the program, too, because I feel like it's rewarding people who've bought ridiculous gas guzzlers and SUVs in the past ten years (not you who bought a 1985 car). It's just like the mortgage bailout, where I don't qualify even though I scrimp and save and work so hard to pay my mortgage, but if I was bad and in default I would qualify for help. That just doesn't make sense to me; it's rewarding a lot of people (not ALL of them, I know) who did something wrong.
My van is in terrible shape. I bought it used, and it is costing a fortune in repairs every time something goes wrong. It's a 2000, but the website says the mileage is 19 mpg, so I don't qualify. I've been saving for over a year for a new-to-us van, but I'm not even close. Why can't I have the $4,500 to "help" me?
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- Giggles_all_day - August 11, 2009
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I object to the program, too, because I feel like it's rewarding people who've bought ridiculous gas guzzlers and SUVs in the past ten years (not you who bought a 1985 car). It's just like the mortgage bailout, where I don't qualify even though I scrimp and save and work so hard to pay my mortgage, but if I was bad and in default I would qualify for help. That just doesn't make sense to me; it's rewarding a lot of people (not ALL of them, I know) who did something wrong. My van is in terrible shape. I bought it used, and it is costing a fortune in repairs every time something goes wrong. It's a 2000, but the website says the mileage is 19 mpg, so I don't qualify. I've been saving for over a year for a new-to-us van, but I'm not even close. Why can't I have the $4,500 to "help" me?
- By CouponsCoach
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Well said! I am also afraid that more people will go into debt that they might not be able to handle! I would be to scared to purchase anything big right now, unless I had the cash!
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- Son: Age 4
- Daughter: Age 4
- Step-daughter: Age 14
- Philadelphia, PA
- Stay at home
- maddoxabz - August 12, 2009
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I object to the program, too, because I feel like it's rewarding people who've bought ridiculous gas guzzlers and SUVs in the past ten years (not you who bought a 1985 car). It's just like the mortgage bailout, where I don't qualify even though I scrimp and save and work so hard to pay my mortgage, but if I was bad and in default I would qualify for help. That just doesn't make sense to me; it's rewarding a lot of people (not ALL of them, I know) who did something wrong. My van is in terrible shape. I bought it used, and it is costing a fortune in repairs every time something goes wrong. It's a 2000, but the website says the mileage is 19 mpg, so I don't qualify. I've been saving for over a year for a new-to-us van, but I'm not even close. Why can't I have the $4,500 to "help" me?
- By CouponsCoach
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The government rewarding people who've done something wrong is nothing new. I don't think it's rewarding the buyers of gas guzzlers and SUVs though, I think it's another way of bailing out the auto industry. Yes you get up to $4,500 for your clunker but you also get a 5 year car note and higher insurance payments. I don't see this helping the buyer as much as it is helping to boost car sales.
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Beauty is self acceptance
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- Daughters: Ages 34 & 32
- Grandsons: Ages 2, 2 & 17 months
- Work at home
- Group Leader
- FamilyHost_Annabelle - August 12, 2009
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I understand what all of you are saying regarding going further into debt and about the program seeming unfair to many of us who don't qualify for whatever reason. I think those are the unfortunate and unforeseen pitfalls of this program. I think the program was borne out of good intentions - to get gas guzzlers off the road, thus helping the environment. I don't think its intention was to punish some of us or give a leg up to the floundering car industry.
Epilogue to my clunker story - the clunker (actually, it's my daughter's clunker - we gave it to her about 10 years ago when we bought a car that got better gas mileage) qualified for a trade in. However, daughter didn't make enough money for the payments, according to their criteria. So the clunker will stay, will continue to pollute the air and use up precious resources. Such is life. She'll keep repairing it, and paying just as much in repair costs and gasoline bills as if she were making payments for a new car.
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Go Green! Eat Lean! Live Clean! - Belle
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- Daughters: Ages 34 & 32
- Grandsons: Ages 2, 2 & 17 months
- Work at home
- Group Leader
- FamilyHost_Annabelle - August 12, 2009
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The government rewarding people who've done something wrong is nothing new. I don't think it's rewarding the buyers of gas guzzlers and SUVs though, I think it's another way of bailing out the auto industry. Yes you get up to $4,500 for your clunker but you also get a 5 year car note and higher insurance payments. I don't see this helping the buyer as much as it is helping to boost car sales.
- By maddoxabz
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One thing for sure, let the buyer beware. Hubby just heard on a radio talk show about a caller who got more money for his clunker in a trade-in than the CARS program would have given him. So know your vehicle's worth before you "CARS" it. You might be able to sell your vehicle privately, particularly since the cost of used cars seems to be rising, and end up spending less on a new car or taking out a smaller loan.
One of the inevitable pitfalls of buying a new car is that the insurance is higher, no matter how you come by the car. About the five year car note, is there a requirement that consumers have take out a five year loan from the dealership? I haven't read all the fine print, yet.
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Go Green! Eat Lean! Live Clean! - Belle
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- Son: Age 32
- Oklahoma
- Work full-time outside home
- BroncosDad - August 13, 2009
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I object to the program, too, because I feel like it's rewarding people who've bought ridiculous gas guzzlers and SUVs in the past ten years (not you who bought a 1985 car). It's just like the mortgage bailout, where I don't qualify even though I scrimp and save and work so hard to pay my mortgage, but if I was bad and in default I would qualify for help. That just doesn't make sense to me; it's rewarding a lot of people (not ALL of them, I know) who did something wrong. My van is in terrible shape. I bought it used, and it is costing a fortune in repairs every time something goes wrong. It's a 2000, but the website says the mileage is 19 mpg, so I don't qualify. I've been saving for over a year for a new-to-us van, but I'm not even close. Why can't I have the $4,500 to "help" me?
- By CouponsCoach
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I think the program is based upon a number of assumptions, a number of which I challenge. Why destroy all of the trade in vehicles, because many are in fine running condition? Its the assumption that if you don't have a new vehicle then its worthless. Our government is pushing a commercialism, and you are right, it is rewarding people who bought gas guzzlers. People in my economic bracket do not buy gas guzzlers. We buy used, and we buy economy models. Where is OUR rebate?
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"Denver Bronco's Fan since 1982"
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- Daughters: Ages 34 & 32
- Grandsons: Ages 2, 2 & 17 months
- Work at home
- Group Leader
- FamilyHost_Annabelle - August 14, 2009
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[....] We buy used, and we buy economy models. Where is OUR rebate?
- By BroncosDad
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I understand what you're saying, BroncosDad. This is the way I think of it. I don't want a new car. I don't want the car payments, nor do I want the higher insurance premiums. My "rebate" is in the form of savings at the gas pump and in my budget. I can fill up my car for $30 and go nearly 300 miles on that $30 of gas. That saves me a bundle of money every month. I haven't had car payments for a while and my insurance is low. I chose a good used car and have been reaping the benefits for the last seven years. That's my rebate.
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Go Green! Eat Lean! Live Clean! - Belle
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