The new CARS program, some links and advice...
So, Congress moved quickly - for once - and passed a pared-down version of a bill Ohio Representative Betty Sutton introduced in the House just a few months back, modeled after similar programs in Germany and other European Union countries, initially called "Cash for Clunkers", but recently and kindly renamed by NHSTA http://www.nhsta.gov/ with the simpler acronym, CARS; read all about it here http://www.cars.gov/.
In brief, if your ride qualifies - and do read the fine print - then you may qualify for a credit, issued directly to the dealer as a part of any sale or lease of a qualifying new car - of between $3,500 - $4,500, depending on the car you bring in, and the car you buy or lease.
Your old ride will not be "traded", per say, but rather credited as turned in, and it will be, as they say, "taken out of service." The program requires that the drive line for the turned-in car be removed and destroyed, including the engine and transmission, and that although the rest can be harvested for transplant, the VIN and the viscera of the once-proud vehicle will be no more.
The program was introduced by way of the bill in Congress to be funded for a year - and that was pared down to just a few months worth of funding in the final analysis. If the program goes well - and a similar program in Germany was very well received - look for Congress to add more funds and extend the program.
Dealers are already queueing up for the program, which is to officially start July 24, 2009. I've spoken to a few who indicate that they are already writing contingent contracts for putative purchasers postulating that they'll probably pursue the plenty. In addition, the manufacturers are already in the game, posting ads that reference the program and the cars they have that will qualify, and even advertizing the potential discount applicable.
So, do your part, prime the well of commerce, and see about getting a new car with your freshly-minted-and-printed federally supported greenbacks. Heck, it's one way to get your little piece of the bailout....
In brief, if your ride qualifies - and do read the fine print - then you may qualify for a credit, issued directly to the dealer as a part of any sale or lease of a qualifying new car - of between $3,500 - $4,500, depending on the car you bring in, and the car you buy or lease.
Your old ride will not be "traded", per say, but rather credited as turned in, and it will be, as they say, "taken out of service." The program requires that the drive line for the turned-in car be removed and destroyed, including the engine and transmission, and that although the rest can be harvested for transplant, the VIN and the viscera of the once-proud vehicle will be no more.
The program was introduced by way of the bill in Congress to be funded for a year - and that was pared down to just a few months worth of funding in the final analysis. If the program goes well - and a similar program in Germany was very well received - look for Congress to add more funds and extend the program.
Dealers are already queueing up for the program, which is to officially start July 24, 2009. I've spoken to a few who indicate that they are already writing contingent contracts for putative purchasers postulating that they'll probably pursue the plenty. In addition, the manufacturers are already in the game, posting ads that reference the program and the cars they have that will qualify, and even advertizing the potential discount applicable.
So, do your part, prime the well of commerce, and see about getting a new car with your freshly-minted-and-printed federally supported greenbacks. Heck, it's one way to get your little piece of the bailout....
posted by zzoott at
11:51 AM
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