Cash For Clunkers rebate program under way

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Advertising is in full swing by local new car dealers trying to lure prospective buyers to their showrooms to buy new cars under the federal government’s “Cash for Clunkers” program.

Taylor Hyundai general manager Todd Torchia opens a Ford Explorer that is one of the vehicles already turned in for the Cash for Clunkers program.  Annette M. Drowlette/staff
Annette M. Drowlette/staff
Taylor Hyundai general manager Todd Torchia opens a Ford Explorer that is one of the vehicles already turned in for the Cash for Clunkers program.

The National Highway Traffic Safety Administration published its final regulations Friday, allowing dealers to offer the $3,500 or $4,500 rebate to buyers with trade-ins that meet the criteria.

The federal government has set aside $1 billion in incentive money in what is known as the Car Allowance Rebate System to get motorists to trade in their gas guzzlers for more fuel-efficient new cars.

The program expires on Nov. 1, or earlier if the $1 billion in the program has been spent.

Eligible clunkers include passenger cars and light trucks no older than the 1984 model year that are rated at no more than 18 miles per gallon.

For eligible cars, the credit value will be $3,500 if the new vehicle gets at least 4 mpg more than the clunker or $4,500 if it gets at least 10 mpg more.

For light trucks, vans and sport utility vehicles, the credit value will be $3,500 if the new vehicle gets at least 2 mpg more than the vehicle being traded in or $4,500 if it gets at least 5 mpg more.

The rebate applies to a new purchase or a five-year lease.

The trade-in will be scrapped.

"Given the Cash for Clunkers program and the current availability of an income tax deduction for sales taxes paid on a new vehicle, there has never been a better time to purchase a new vehicle," said Bill Morie, the president of the Georgia Automobile Dealers Association.

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Just My Opinion
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Just My Opinion 07/24/09 - 05:10 pm
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I guess if you're ALREADY in

I guess if you're ALREADY in the market for a new car, then you might as well take advantage of this. However, if you're like alot of people, it just doesn't make sense to turn in your well-running car, that is already paid for, for a brand new car that you will be paying on for the next several years. Okay, let's say your car isn't running great, but it IS paid for. You're still better off putting alittle bit of money into it to get it fixed than to (here I go again) buy a brand new car that you will be paying on for the next several years. Part of the problem that got this country into this financial mess we're in is people spending money on things that they really can't afford! Before buying this new car, ask yourself if you're up to date on your home loan?...do you carry a sizeable balance on your credit cards?...do you have at least 6 months of salary in your savings account in case you get sick or laid off?...will buying this new car cause you to use money you would've used for essential items? If so, then the best thing you can do for yourself is to wait. Okay...let's see what the area car salesmen will come on here and say about all this.

ColCo
701
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ColCo 07/24/09 - 05:16 pm
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If GADA lobbyist Bill Morie

If GADA lobbyist Bill Morie says it, it must be true. Think I will save my trade and my money.

mad_max
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mad_max 07/24/09 - 06:13 pm
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Maybe if I can find a Ford I

Maybe if I can find a Ford I want. No foreign stuff and NO Government/Union owned Motors, GM or Chrysler. Maybe Ford's cars are not 100% American made, but they are at least American owned and they at least had the good sense not to be part of the Obama Communist takeover. That certainly ratchets them up a few notches in my confidence book. As far as I am concerned GM and Chrysler can hang it in the wind and whistle the Chinese communist's national anthem. That's who's money bought them. Besides, I made 250% profit on a couple of thousand shares of Ford stock since December so I figure I owe them. Bought at $2 in December, sold yesterday at $7. Now that's what American capitalism is all about. When you Obamacrats quit trying to steal people's money 1% here and 5% there, come see me. I'll show how to pick them 250%'ers. You only have to do that once or twice a year and you don't need a black hoodie and a gun. You don't even need an act of Congress.

Townie
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Townie 07/24/09 - 06:46 pm
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Mad Max, you are that! Get a

Mad Max, you are that! Get a grip, man! Lay off the self-rightous venem you spew. Have you been listening to Rush again???

Pu239
284
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Pu239 07/24/09 - 10:35 pm
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This deal worked for me. Got
Unpublished

This deal worked for me. Got a new car at invoice and $4.5K for a truck that would not bring $2K

TheTruth
1
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TheTruth 07/25/09 - 12:08 pm
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I would never have a vehicle

I would never have a vehicle that qualifies for this program. It is socially irresponsible. What ticks me off is seeing people who drive these behemoth SUVs and trucks with ONE person occupying the vehicle. I understand that large families need large vehicles and don't have a problem with that, but ONE person in a full size SUV? WHY?

TheTruth
1
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TheTruth 07/25/09 - 12:18 pm
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Mad max...Who do you think

Mad max...Who do you think put us in this economic crisis? It was your boy W and the rest of the 9th Circle of Hell crew. The Republican party is DEAD with NO hope of resurrection in a modern society that values human rights, freedom, and the pursuit of happiness. I would love to buy American made vehicles and will once American automobile manufacturers start making a good product that is not designed to fail. I just traded in a Honda that I had for ten years. Number of times in the shop: ZERO. (Not counting brakes and CV joints which are maintenance items). Number of times my Toyota has been in the shop: ZERO. Get the picture? We have lost the edge in this country because we value the executives not the engineers, workers, and customers. And why has this happened? Dumb people too afraid to see the truth that keep voting for corporate puppets.

charliemanson
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charliemanson 07/25/09 - 12:37 pm
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Truth, concerning your post

Truth, concerning your post at 12:08pm: the psychological term is called narcissism (i.e., an inflated view of oneself). Driving a SUV feeds into that inflated view.

HiPlainsDrifter
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HiPlainsDrifter 07/25/09 - 01:00 pm
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Our government is subsidizing

Our government is subsidizing new car purchases, cell phones,food,housing and aiming for health care. I'm so excited about the new things being offered everyday by Uncle Sam.

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