CASH FOR CLUNKERS!
President Obama just signed a bill to simulate the car business by siging a cash for clunker. This is to stimulate the car business. The Federal Government is giving away money to entice people to purchase homes and cars. A buyer can receive up to $4500 credit towards a new car if the clunker is ten or more years old and only receives 18 miles per gallon. There are high hopes from both the car industry and Obama administration that more people will purchase cars. However, the unemployment rate is now at 10% with many Americans holding back on major purchases such as a home or a car.
The owner of the clunker must have owned it for one year in his/her name. The new title for new car purchase must be in the same name. It was stated that there were more minor stipulations with this program.
JUMP THROUGH THE HOOPS FOR THE CAR
This bill will end either by November 1st, 2009 or when $1 billion dollars has been spent. This will be monitored by the car czar. However, the conumer will pay for this incentive by increasing taxes. We just keep printing more money. Many experts say inflation is right around the corner. The stimulus money is to get people back in the car buying business. Do you want a car or a job?
OBAMA'S NEW CAR LOT!
Make the Call, Set the Plan, Do the Deal$!
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Harry, I think everyone would like a job, and a reliable car to get them there!
I agree with you Judi. A job and a car is essential in America. We love our cars
I think it's just another great incentive to accomplish many things.
I LOVE how our administration is getting so many things in place so rapidly.
Nothing is going to be instantaneous, though.
All of these plans will take a little time to get to the effect they were intended for.
Ralph-thanks for the input on this subject. We will have incentives for everything paid by the American people.
Many that own the old cars can not afford to take advantage of this offer.
Great point. That will be in the second stimulus plan
I've seen some of the cars being turned in on the local news. I don't think if these people had jobs, that those clunkers would get them there. However, I don't think shelling out that kind of money to get them to buy new cars is the thing to do... but who am I? I'm just a responsible tax payer, homeowner, and car owner... I don't have a say...
Donna- I am with you. Work hard and play hard.
Wouldn't it be far faster and cheaper for the government to just write a check to every American Citizen for $1,000,000? Save the homes and buy the cars! Hire the employees....
Karen-do we have to pay for postage?
The people driving clumkers drive them for a reason. They can afford them.
Thanks for sharing your post with us today. Make it a great day.
I found your post to be very interesting. I always look forward in reading your blogs on a daily basis.
What will they think of next? We have way too much Government intervention at this time. Hold on
I went down to my Chevy dealer yesterday. He would not deal on the price of a new car, but would give me between $3,500 and $4,500 for my trade-in (In the form of the Gov Tax credit). Looks like the dealers are not negotiating at all! I liked it better when they would give me a few thousand for my trade plus knock some off the price of the vehicle. Anyone else out there having this problem?