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C4C - Cash For Clunkers And Other Auto News. |
>>Cash For Clunkers has ended
>> The End Of Cash For Clunkers . Monday, August 24 will be the last day you can get the C.A.R.S. credit for your clunker. Read more here MSNBC.com
>> General Motors to test selling new cars on eBay. GM announced it's plan to test selling new cars on eBay. California this nation's largest car market has been chosen the place the test will take place. Read more about GM's eBay move at Reuters.com or the Washington Post.
>> It looks like the Senate will let Cash for Clunkers live another day. By a vote of 60-37 the Senate has approved a $2billion extension of the C4C program. With President Obama's signing of the legislation, car dealers are bracing for a new rush of customers wanting to take advantage of the $3500 to $4500 refund vouchers before this installment of funds runs out. Read more about the latest Cash for Clunkers (CARS) news at CNN Money.
>> Fate of Cash for Clunkers in the hands of the Senate. The house recently voted to bring as much as $2,000,000,000 into the program to further help car sales and the environment. Despite the success of the CARS program the some in the Senate are questioning the need for more money. Read more about this at CNN.com
>> Cash for Clunkers may be put on hold as of July 30 midnight. The CARS program has been such a success the Transportation Department may have to put it on hold until it figures out just how much of its $1 billion budget has been spent. What is known is that almost 96 million dollars in disbursement request for almost 30,000 C4C transactions have been made. Read more about it at CNN Money or MSN Money.
>> The Cash for Clunkers is now officially called CAR ALLOWANCE REBATE SYSTEM or CARS for short. With President Obama's signature now officially on the CARS bill, purchases of cars made after July 1, 2009 and before November 1, 2009 meeting the CARS requirements will be eligible for the rebate. Although the beginning date may be July 1 you may want to wait until July 23 before making your purchase when all the final rules and regulations will be in place.
What is in place right now are the following:
- Your vehicle must be less than 25 years old on the trade-in date
- Only purchase or lease of new vehicles qualify
- Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
- Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
- You don't need a voucher, dealers will apply a credit at purchase
- Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
- The vehicle that you are trading in is required to be destroyed. Therefore, the value you negotiate with the dealer for your trade in is not likely to exceed its scrap value. The law requires the dealer to disclose to you and estimate of the scrap value of your trade-in vehicle.
>>Today, June 10 2009 Congress has passed their version of the cash for clunkers bill. We will have to wait to see what the Senate will do. The basics of the house bill are the old car must get 18mpg or less from city and highway combined while the new car has to get 22mpg city and highway combined. The car your trading in must be registered and insured under your name and in use for at least one year. Under House version the new car must cost less than $45,000.
As soon as the Senate make its move we will give you the details.
>> Today, June 19, 2009 It looks like car sales might just see a small jump if those who have credit take advantage of the "Cash for Clunkers" bill that passed the last major hurdle to become reality. On the 18th the billion dollar C4C bill was passed by being tacked on to the emergency war spending bill. All interested parties had to give a little to make it happen. The passed bill is not as environmentally friendly as Senator Feinstein's original bill but in the end the consumer should be a winner. The basics are still the same. The car being traded in has to have been insured for at least a year. All the trades must be scrapped by the dealer. There has to be an improvement from 18 mpg gallon to 22 mpg for cars or 18 to 20 for an SUV or truck to get a $3500 voucher. A $4500 voucher is available for car owners seeing an improvement of 10 mpg and SUV owners seeing a 5 mpg increase. You can research your car's gas mileage as well as the car you are considering buying at the government site www.fueleconomy.gov.
>> An update to the Chrysler story Now may be the time to buy a Chrysler. Dealers may now be prepared to match the governments C4C offer. This means in theory you may be able to get up to $9000 toward your new Chrysler. To read more about it follow this link to the story on MSNBC.
>> Hyundai offering a year worth of gas at $1.49. In an effort to gain some attention and more market share Hyundai is offering a sweet deal on gas for a year. Get the details here: Hyundai Gas Lock
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