Â Cranbury Forum | Bulletin | Info Sharing Â :: Topic review - Q&A: How the 'cash-for-clunker' plan would work

Guest

The cash-for-clunkers looks like a success. Dealers have reported heavy volume of traffic and many deals done. The sale person who handles my deal told me he has four in the queue on Monday.

Check if your trade-in is qualified:

http://www.fueleconomy.gov/feg/CarsSearchIntro.shtml

If qualified, bring the following documents to the dealer:

1. Proof of at least one year of continuous insurance

I use my current year's and last year's insurance cards. If you don't have them, call your insurance company to request a letter of proof.

2. Proof of at least one year of registration

I use my current year's and last year's registration cards. If you don't have both, you need to fill out a form and send it to MVC/DMV to request your registration history ($15 fee).

3. Clear title (no lien) of the car

All the above documents must have your name on them.

The dealer is supposed to give you an estimate of the scrap value of your trade-in (most likely less than $300). The dealer can keep $50 and you get the rest.

Guest

Just remember the fine print. It is scrap value of the car plus the government aid and not the trade in value plus the government aid. As the car is to be destroyed and used for scrap. So unless you have a really old car to trade in or the condition is poor it may not be a great deal.

Guest

FYI: The "cash-for-clunkers" program will officially start this Friday (7/24/09).

Anyone has a clunker to trade?

Guest

Call, write and/or email Holt, Lautenberg and Menendez and let them know it isn’t alright to keep spending our money. It’s the only way they will ever stop. I know this is a done deal but maybe we can stop the next one – and you know another one is coming.

Guest

The bill will be signed. It's a done deal.

Guest

Doesn't anyone care that we are spending our kids and grandkids money to buy ourselves a car?

Guest

The official web site for the info is:

http://www.cars.gov

You can register your email there for updates.

AP

Senate salvages 'cash for clunkers' program

$3,500 to $4,500 for motorists who trade gaz guzzlers for fuel efficient cars

WASHINGTON - Senate Democrats narrowly defeated a GOP effort Thursday to kill a $1 billion "cash for clunkers" program that would provide government incentives of $3,500 to $4,500 to motorists who trade in old gas guzzlers for more fuel efficient vehicles.

Auto state senators said the program would help hard-pressed car dealers by bringing buyers into showrooms, and they got help from President Barack Obama and Vice President Joe Biden, who made calls to wavering Democrats urging them to keep the plan alive.

"This is an emergency for families and small businesses — for an industry that has been the backbone of our economy for a generation," said Sen. Debbie Stabenow, D-Mich., who sponsored the proposal.
Story continues below ↓advertisement | your ad here

Opponents said it would increase the federal debt without doing much to get expensive-to-operate vehicles off the roads.
...
http://www.msnbc.msn.com/id/31432867/ns/politics-capitol_hill/

Guest

I couldn't agree more. However, the question is do you take the Ford made in Mexico or the Toyota made in Tennessee. I'd rather keep the laborers employed and take the Toyota. So it's important if you want to buy American to understand where the car is coming from and just because it has an American or Japanese name it does not mean it is an American or Japanese car.

Jersey Dad

Guest

Guest,
I agree with you. Purchasing decisions are a matter of personal choice. All I am suggesting is that patriotic Americans take a few minutes to learn the truth about American cars before perpetuating the myth of poor quality. For example, Buick is at the top of the JD Powers dependability rankings. My next car probably won't be a Buick, but it makes me feel good about GM quality (Mercury is #5 on the same list.)

As a point of interest, many American brands offer incentives that equalize the differential in labor costs and resale value. Also, resale values vary greatly depending on market conditions. For example, last year, used pick-ups were cheap and small cars and hybrids were grossly over-priced. This year is different. Plus, trade-in values vary significantly based on the negotiating skills of the buyer and seller. Something to consider in your purchasing process.

Guest

JD, agree on your second point: contrary to popular percetions, the quality difference between a domestic car and an "imported" car is small at most. However, due to the cost structure in your first point, you are seeing new cars are priced at the same level for both US brands and foreign brands. After taking resale price into consideration, you actually pay more for a US domestic brand.
For the sake of patriotism, I would love to buy a US brand. As a consumer, however, I buy it only when the price is right. BTW, I drive both domestic and "imported" cars.

Guest

What a great idea. Why don’t they raise the amount to $50,000 and get rid of the mileage requirement. We could all get great new cars for free! Seriously, that $4 Billion dollars, like all the money the folks in Washington are spending, has to be forcibly taken from someone, either directly by taxation or indirectly by reducing the value of our earnings through inflation before it can be given to a more deserving soul. Stop the spending.

Jersey Dad

Many of the purportedly "high quality imports" are also built in America. The truth is, with the support of the US government, the UAW is able to put more pressure on GM, Ford and Chrysler to pay higher wages and offer more benefits than their "import" competitors, while at the same time, foreign auto makers are encouraged to build cars and trucks in the US at substantially lower labor and legacy costs. While it is hard to condemn the UAW for negotiating the best deal for their members, the differential in labor costs is one key contributor to the current state of the US auto industry.

Unfortunately, another key contributor is the perception of quality. At this point, most independent measurements of quality put American cars on competitive footing with foreign brands. However, the perception persists (within the US) that American cars are lower quality. This misconception is costing thousands of American jobs (particularly in Detroit, the midwest and New York) and hurting the American economy. As an act of patriotism, I would encourage every America to learn the facts before passing judgement. Americans design, market and manufacture some of the best cars in the world. We should be proud of that.

JD

joe the plumber

Guest

GM and Ford cars are quite popular in China.