The clunker, to quality, had to be less than 25 years old, rated at less
than 18 mpg
Then if you improved your mileage with the new car by 4 mpg you got a $3500
voucher, by 10 mpg you got a $4500 voucher.
It was a dumb plan to put some money into the economy, boost the auto sales.
It was, I believe, handled fraudulently by many.
Nope, Trucks fell under different rules than cars did. However you
couldn't trade a truck for a smaller car. Only for a similar vehicle.
Passenger Cars: The old vehicle must get 18 mpg or less. New passenger
cars with mileage of at least 22 mpg are eligible for vouchers. If the
mileage of the new car is at least 4 mpg higher than the old vehicle,
the voucher will be worth $3,500. If the mileage of the new car is at
least 10 mpg higher than the old vehicle, the voucher will be worth $4,500.
Light-Duty Trucks: The old vehicle must get 18 mpg or less. New light
trucks or SUVs with mileage of at least 18 mpg are eligible for
vouchers. If the mileage of the new truck or SUV is at least 2 mpg
higher than the old truck, the voucher will be worth $3,500. If the
mileage of the new truck or SUV is at least 5 mpg higher than the old
truck, the voucher will be worth $4,500.
Large Light-Duty Trucks: New large trucks (pick-up trucks and vans
weighing between 6,000 and 8,500 pounds) with mileage of at least 15 mpg
are eligible for vouchers. If the mileage of the new truck is at least 1
mpg higher than the old truck, the voucher will be worth $3,500. If the
mileage of the new truck is at least 2 mpg higher than the old truck,
the voucher will be worth $4,500.
Work Trucks: Under the agreement, consumers can trade in a pre-2002 work
truck (defined as a pick-up truck or cargo van weighing from
8,500-10,000 pounds) and receive a voucher worth $3,500 for a new work
truck in the same or smaller weight class. There will be a finite number
of these vouchers, based on this vehicle classs market share. There are
no EPA mileage measures for these trucks; however, because newer models
are cleaner than older models, the age requirement ensures that the
trade will improve environmental quality. Consumers can also trade
down, receiving a $3,500 voucher for trading in an older work truck and
purchasing a smaller light-duty truck weighing from 6,000 8,500 pounds.
Plus the Clunkers bill had NOTHING to do with helping lower fuel
consumption. If you worked out the numbers the cost of the program and
the mileage of the new vehicles the U.S. lost BIG money under the program.
They went by the original EPA rating when the vehicle was new. So if
your 1990 Ford Escort was rated at say 15 city 22 highway your average
would be 18.5, OOPS you're not eligible.
But if your 2005 Ferrari was rated at 13 city and 18 highway, you're all
Bailouts, cash for clunkers are no difference. Obama can't justify
where the money is going into GM, so he is touting cash for rclunkers.
Keeping in mind productive people are going to have to pay for the ass
hole Obama's debt legacy. US economy sucks as the biggest debtor in the
land is loose with the taxpayers credit card.
I smell a US revolution in the works. It is going to get ugly.
Currency is the wrong place to be. Better off if you bought a real
currency like gold or oil. Gold and oil are not going up, our
currencies are devaluing into inflation.
Euro is stronger as Obama-Democrat debt spend is diluting the USD.
Government wants hyper inflation. Think of why interest rates are
Now say I am statist goverment, I want to borrow $12 trillion, up so I
can keep Obama and dim-wits in debt spend. If I pay 1% interest on $12
trillion is is small. I try to borrow as much as I can.
Now, if I can cause 25% inflation per year, on a valuation bases all
that debt devalues at 24% per year.
Problem comes in that the Chinese with $2 trillion cash and more in US
government debt, and the trade deficit are pissed off as they are seeing
the value of the assets decrease. No mistake about why Obama is going
to China. Obama wants to talk China out of liquidation of the USD.
If China dumps USDs for exchange for other currencies or assets in a big
way, count on a USD being like a Mexican peso in the 80's. Each week it
is worth less. $500 / barrel of oil is likely.
So while Obama blows money on GM, banks and other lost causes, know that
Obama-democract debt-ponzi-spend is sending the US economy in the hole.
A hole that may take decades to get out of.
Good luck, since 2003 I have decreased my US holdings from 90% to about
11% and I am laughing to the (foreign) bank.
True but the value of the Euro is making European produces more expensive
around the world an in the US and US product less expensive in Europe and
around the world.
Devaluing the dollar, is just one part of the plans of BO and the Congress,
to use inflation to lower their ever increasing national debt, that is
growing by TRILLIONS of dollars since they gained control of the US economy
that they are currently driving into the ground.
wrote in message >
And creates inflation making everything more expensive for everyone.
Government loves depreciation of the currency. Devalues debt and
Remember that next time you put taxes into the till for a fillup. If
you were government, which sounds better, taxes on $80 or taxes on $50?
It woul dhave been cheaper and better if GM went bankrupt for real.
Which it will anyway. People are getting tired of the GM dog.
Mike Hunter wrote:
Well, yes and no.. The Euro has not gone up in value so much as the dollar
has hit the dumper.
That means that the USA is a bargain for European tourists, that American
are great buys right now for people outside the USA. But it also means
will reflect a higher price as foreign producers dont care to accept pay in
Everyone of you who voted for Obama, I hope you wake up in a cold sweat at
night when you wonder if you will have a job next week. You may not.
Your bank accounts, your investments, your very future financially is in the
a socialist mindset of people who want to redistribute your wealth.
And the fun is just beginning. Be afraid...Be VERY afraid.
The double whammy of inflation due to currency mismanagement. Yep.
Doubtful. Liberal leftists and marxists have short memories. People
are buying gold to bypass this, the middle class and lower class will
get the brunt.
Certianly anything cash/tbill/bond/preferred shares/interest
bearing/government debt will depreciate.
Gold, oil, diamonds, copper, silver, coal - will at least hold it's own.
Real estate is good only if you can hold on through the wave of
hyperinflation and high interest rates. If it takes debt to do it,
avoid it like AIDS.
A 15 to 25% interest rate is coming to the debtors.
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