The US Congress is moving forward a bill to promote sales of new automobiles by subsidizing them up to $4,500, provided you trade in a "gas guzzler"
that you have been driving (actually, that you have carried insurance on for the past year).
The older car must be destroyed (so, the money the government pays is effectively all you get--the dealer can't sell the used car to someone who needs one, even at a reduced price).
How well is this going to work?
Since the car turned in is destroyed, it must be worth less than the seller could get for it on the market. Such a car must be in poor shape--high miles, or rusty, or old. Even with these against it, the trade-in car is not eligible unless its mileage rating is inferior to the new car. A little car in poor shape won't qualify.
So, only people driving poor cars indeed can qualify.
But, they cannot buy an affordable USED car--it must be a NEW one. The government credit might bring the cost of the new car down from @24,500 to $20,000. But, if the person could afford the down payment and monthly payments to buy a $20,000 car, why is he driving a gas-guzzler of little worth?
The goverment wants to sell new cars to stimulate the economy. It has loaned billions to two car companies. Now, how will it get the money back? These geniuses are spending government money to buy cars! (Like the child running the lemonade stand, who uses his money to buy the ingredients, and then uses his own money to buy the finished lemonade, so that he'll take in enough money to pay for the ingredients!)
Who gets kicked in the butt by this program? People like myself, who can only barely afford to buy the very cheapest cars ($1000 or less has been the cost of the last few cars I've purchased). These cars are the ones that will get crushed, causing a SHORTAGE for the poor.
Better fix that window or trade it in .
I only have $35, to last me the rest of the month. I have bills to pay for electricity and telephone. No, I won't be buying a car.
The scrappage programme is working so well here that they are probably going to stop it soon. Additionally I've been told by a colleague that the cost of second hand cars has fallen in recent months so those who need to trade up to another second hand can still do so quite cheaply.
If you buy a second hand car that qualifies for the scheme you are most likely buying somebody elses problems which could be costly to rectify.
Regards the Bear
You have to have owned the car for 12 months at least to qualify here.
All you need is this:
Yes, but is there a window motor included?
Has he managed to get it up yet?