The $1 billion program is authorized from July through November. It is expected to be implemented by early August.
-Passenger car owners could receive a voucher worth $3,500 if they traded in a passenger car getting 18 miles per gallon or less for a new car getting at least 22 mpg. (The mpg figures are the EPA ratings for combined city/highway driving. To find your car's combined rating, go to www.fueleconomy.gov).
-Owners of SUVs, pickup trucks or minivans that get 18 mpg or less could receive a voucher for $3,500 if their new SUV, truck or minivan gets at least 2 miles per gallon more than their old vehicle.
-Passenger car owners could get a voucher for $4,500 if they traded in a passenger car getting 18 mpg or less for a new car that is 10 mpg higher than the old car.
-SUV, pickup truck or minivan owners who get 18 mpg or less could receive a voucher for $4,500 if the mileage of the new truck or SUV is at least 5 mpg higher than the older vehicle.
-Large trucks (pickup trucks and vans weighing 6,000-8,500 pounds) with mileage of at least 15 mpg would be eligible for vouchers of $3,500 to $4,500.
-Participating dealers can access electronic vouchers from the government for consumers to purchase or lease qualifying vehicles.
-Dealers are directed to ensure that older vehicles are crushed or shredded to get the clunkers off the road.
-The program is aimed at replacing older vehicles, so it would not make financial sense for consumers owning an older car with a trade-in value greater than $3,500 or $4,500.
-Older trade-in vehicles must be in drivable condition, be manufactured in model year 1984 or later and be continuously insured and registered to the same owner for at least one year immediately prior to trade-in.
-The new vehicle must have a manufacturer's suggested retail price of less than $45,00
Good Luck and happy shopping!!!
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2 comments:
I don't qualify because my car already gets good gas mileage. My dad swears by the car buying process here: http://excarsalesman.typepad.com/ It is kind of similar.
I haven't tried it yet, but I might because it looks good.
I have a feeling dealers are going to automatically increase prices because of the increased demand (artificial) for lower MPG cars. So the thousands of savings from this bill for consumers is not entirely accurate. The demand will increase prices and you'll get a voucher from increased prices. I'm certain some markets you'll come out even as if they never offered this voucher. It is poorly written legislation.
Well...this might be the case if you are not a domestic car franchise. However, the depressed new car market right now isn't a time for us, a single point Chrysler dealership, to make a "killing" on a new car. Maybe you might get an inflated price on a new Prius? Maybe on a new Lexus Hybrid? You can be reassured that our cars are priced to sell and make happy customers..ones that will return and be with us for a long time. That is more important than making a quick buck.
Also, on the website...I agree with most of the tips that this "ex-salesman" suggests. Of course, do your homework and get competitive bids. But sometimes, I think you miss out on the dealership and the sales person trying to give you exceptional service when you go in with a jaded and guarded perspective. We want to make a car deal too!! We like educated buyers! We don't like to play games either!! I think sometimes, websites like this one, put the customer on the defensive so much that no one enjoys the process that could be an easy, stress-free one. It's all about the sales consultant you deal with and how open both sides are. Don't get me wrong..there are a lot of "shady" car salesman out there...but there are also a lot of good ones. Just like there are a lot of shady customers out there..if you can believe that!!!
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