Joe,
The cash for clunkers law went into effect today. People who own vehicles that are older, and get below 18mpg may qualify for up to $4500 in free money from Uncle Same with the purchase or lease of a NEW VEHICLE (Used vehicles do not Qualify) The program runs today, through November 1st, or until the $1billion dollars the government has allocated runs out. If people would like to see if they qualify, they can go to http://www.delmarvacashforclunkers.com/ and enter the “clunker” vehicle info, and what new vehicle they would like to purchase/lease.
The cash for clunkers law went into effect today. People who own vehicles that are older, and get below 18mpg may qualify for up to $4500 in free money from Uncle Same with the purchase or lease of a NEW VEHICLE (Used vehicles do not Qualify) The program runs today, through November 1st, or until the $1billion dollars the government has allocated runs out. If people would like to see if they qualify, they can go to http://www.delmarvacashforclunkers.com/ and enter the “clunker” vehicle info, and what new vehicle they would like to purchase/lease.
You can visit http://www.cars.gov/ to see more about the cash for clunkers program.
Thanks
Dan Fitzgerald
Pohanka of Salisbury
Thanks
Dan Fitzgerald
Pohanka of Salisbury
28 comments:
We'll see how this goes as I have contacted about 5 Toyota dealers online asking for a quote. In addition to the Clunker program, there are cash back offers from some Car Manufacturers and the sales are titling tax is a deductible expense on 2009 Fed return.
That said, I found the following on the baltimoresun.com website:
"Those eager to take advantage of the cash for clunkers program today will need to idle those plans for a little longer.
The government program applies to new vehicles purchased starting today, according to the legislation. But that legislation was signed into law only last week, and government officials have until July 24 to finalize the details and get the program running.
Meanwhile, the National Automobile Dealers Association is advising its members to wait until regulations are in place before giving away federal cash incentives, or risk not getting reimbursed by Uncle Sam"
..."qualify for up to $4500 in "free" money from Uncle Sam"...
See, that's what's wrong with this country...money from Uncle Sam is never FREE...it comes out of the pockets of every American paying taxes. So, those of you who take advantage of this program...you're welcome...
This program is going to be a big nothing.
Great program. Good legislation. Helps the economy while helping the environment. Win, win.
That money is not free. I am paying for it. Your welcome, Dan.
Pohanka is really jumping the gun to sell some cars. The Fed is stating it will be at least 3 weeks before the details are finalized.
Well my 92 ford doesn't qualify. The new combined mpg is 22. Guess I'll just keep my old clunker until the wheels fall off.
Anybody that buys into this idea/incentive is an absolute IDIOT! You should NEVER trade your vehicle in-even if the dealership is offering a guaranteed $3,000 trade in value for a car worth $500 that doesn't even run. Generally when you accept these kinds of offers, you waive all of your factory rebates and incentives that are usually well over that $3,000 that you thought was such a deal!
So why is this such a bad deal you ask? We'll take my 2005 Toyota Tundra for example-It's KBB Retail value is $16,770, but it's Trade-in value is $11,025. The trade offer from the dealer is also likely to be a lot less since it has just over 100,000 miles on it and is considered a "wholesale" vehicle (basically a vehicle that they SAY will not make them any money on resale but, really, it's a Toyota and it would probably wouldn't even sit on the lot for 2 days before it's sold) to the dealer. Other than mileage, it is in beyond excellent condition-I could easily sell it to anybody on the side of the road for $15,500 to $17,000; however as a trade-in there is absolutely no way that most dealerships would ever consider offering more than the KBB trade-in value of $11,025.
So essentially, if I were to trade my truck in at $11,025 in lieu of selling it privately at $16,770 I would lose about $5,745 on the deal. But at least I would be milking the government for $4,500!
This plan is stupid, the people that buy into it are stupid and it's going to create unnecessary debt among these indiot American Car buyers! Trading in a car is the worst thing that you can ever do (at least if you value your money) and thinking that the government is giving out "free" money is the second worst thing you can do!
My advice to the idiots thinking about this cash for clunkers fiasco: Do your research first and find out how much money you are REALLY saving or "Being given" I garantee that 9 out of 10 situations the cash for clunkers is the worst deal...
anon 2:48 you car may still qualify, it also takes into account the car you're wanting to purchase. Ford.com has a site showing you what cars qualify based on your cars mileage. Give it a try, hope you get some good news
Anon 3:04 thanks for the tip. Unfortunately, Ford says "we're sorry, but your vehicle does not meet the criteria for the program." Good thing I am not counting on this program to buy a new vehicle. Like I said, I'll drive it until the wheels fall off.
3:04 is correct, and a good shopper. Trade in has always been a bad deal and the dealer either makes the money up front or in the back of this situation. I only did it once on a new lease because I knew that my tranny was going to cost me $5k the next week, and it made the deal worth it.(sorry Towne Toyota!) And if anyone thinks that there is such a thing as "free money" from anybody, look behind the mask!
It's like food stamps for a car.
Obamaism,take from the hard working
taxpayers and give to the leaches of society who do not want to work.
Even the Washington Post, which is pro-Obama, says this is a bad piece of legislation.
And there will be those people who cannot afford another car payment go in and buy a new car because they "think" they're gonna save some money doing so.
The prices are already up on new cars above what they are worth so I don't see where you're going to save anything, especially if it means now having a car payment when your old one was paid off.
People don't look at the big picture. Just how much are you REALLY going to pay for that NEW car? Bet most don't even know or bother to look.
give me a new car even-up for my clunker and I'll do it.
"Free" money is never free.The government and auto companies cooked this whole thing up to boost auto sales.If thats not the case,then why aren't used vehicles included?Its a carrot on a stick designed to lure people into buying new cars they probably can not afford.If you want better gas mileage,there ARE scads of used cars out there that will fit the bill.
This is a limited time opportunity and, yes, it benefits only a few but I am one of those few. My 2002 Buick JUST makes the economy requirement and I've owned it about 6 years. With 170,000 miles on it and a dying transmission (and a "Service Engine Soon" light that won't go out), this is a perfect opportunity for me.
Thanks to the people that put Obama in office for this generous subsidy. It comes at an absolute perfect time. If you voted for Obama and are upset with subsidizing my next new car, tough luck! :^)
3:04, I have a 19 year old vehicle with 330,000 miles, and you think I am an idiot for wanting to take $4500.00 for it?
The dealership will receive the money from the FED, and it has nothing to do with an actual trade-in with the dealer.
You mention incentives, well the vehicle I am going to get has no manufactures incentives offered, so that kills that theory too.
The dealers want to move cars and they will make deals to do it. The cash for clunkers will make it more affordable to buy a new vehicle, and it doesn't affect the dealers bottom line. It will however negatively affect the credit companies bottom line, but geniuses like you already thought of that I'm sure.
Sure - give it a try. I did just to find out it's an advertising scam from Pohanka.
How much are they paying you, Joe, to post this "news"?
I keep 6 older "clunkers" tagged and on the road. This does not include my antique Jeep, that I drive on rare outings. I will NEVER trade or buy into any program thought up, considered, endorsed, sponsored, encouraged, or mandated by any government agency, especially the criminal Obama band of thugs. BTW, my Landcruiser has 200k miles on it, gets 10 mpg, and I drive it every day. David Sapp
Sure, there will be dealers that use the clunker program to lure in new customers. I'm awaiting several Toyota dealers to compete for my business. One, sales@cfschwartztoyota.com, has admitted that the aren't interested in going beyond MSRP and we have parted company. They are though come up front with the reality that the clunker program likely will not be finalized until July 24th. I'm simply waiting and will buy given the best offer.
Once again the government putting a bandaid on a nearly severed leg! There are so many things wrong with this "incentive" it isn't possible to discuss them all in one post. The most important fact is the same people that went out and bought house for $100k more than they could comfortably afford will rush out to "get this deal". The no brain idiots that think credit cards are the solution to the world that is.
There are a few, a very select few, that truly could benefit from this program. However, the majority will be rushing out to get a new car just to say they got a new car! So many people are forgetting the economy is in the crapper and people are losing their jobs every single day. Why in the heck would someone put themselves in a situation to have a $200-$400 car payment not knowing what tomorrow holds? It is an insane idea and the truly smart people are the ones that are jumping to get into the repo business now, because in the next year or so there is going to be a LOT of business generated by our well thought out government officials (sarcasm implied heavily).
Stop buying into the governments brilliant ideas, the great majority of them could live the rest of their lives without ever having to worry about a real financial strain! The every day blue and in some cases white collar workers are the ones that once again will lose because a bunch of over educated idiots think they know what is best!
**Side note my word verification is diedics...hmm what a kwinky dink that is!!**
I'd rather have the $4500 in my pocket so I can do repairs on the cars I own, neither of which are considered "clunkers" by the regulations, even though they are 1996 and 1998 models, with close to 100,000 miles on each. They should have given the money directly to the taxpayers.
Free.. my a$$$. This is just the kind of crap that puts us deeper into debt!!!
Anon 3:38 Right on!
The recovery/repo business will be booming!
Think of all the extra money that people could pump into our economy if they didn't have ginormous car payments on new cars!
How is Sherwood advertising The Cash for Clunkers voucher of $3500 for used cars and no other car dealer is? If this is only a "NEW" car only deal?
Traded in a 1994 Z28 with 160K miles on it. Needed $1100 to fix the ac, had a coolant leak, several oil leaks, and a differential leak.. To repair this car would be stupid... I got the $4500 which I don't feel guilty about because its mine anyway right?? I got 2.9% financing in lieu of incentives and a weight lifted off my shoulders knowing my daughter can drive back to college without having to worry about her car breaking down.. Plus she is on the app and is establishing her credit and driving a new 2010 Corolla S Type built in America... I don't support Obama in the least but if they're going to carelessly throw my money around I don't feel bad about getting some of it back... Also if it has not been registered, insured, and inspected continuously for the past complete year without a single day lapse you will not qualify..
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