Trade Clunker and Buy a house

[bobbiemcgee]

get 12,500.00 from Gov.........

[drudy23]

get 12,500.00 from Gov.........

Huh?............

[PM Thor]

Bobbie is adding the $4500 government incentive for trading an "older" vehicle making under 18 MPG for a newer, more efficient vehicle, onto the $8000 governmental addition to first time home buyers.

I have no idea what he is going for....

I HATE dayton.

[Jumpy]

I prefer government programs such as those listed above. Much better than the social welfare programs that just give stuff away. Instead of teaching people to become beggars, incentive programs such as these lead people in the direction that the government wants them to go, but still puts the majority of the responsibility on the individual. We have to make it happen, we just get a little help from Uncle Sam for doing something he wants.

[Stonebreaker]

Some dude on the news was like "It's a great program, I love it".

Uh yeah....you just took the taxes I paid and used it to buy a car. What's not to love. So I ask myself the question once more....why do we let this happen?

[ballyhoohoo]

This system will not be abused at all. There are no Americans who take advantage of assitance from the folks in washington are there?

[bobbiemcgee]

Bobbie is adding the $4500 government incentive for trading an "older" vehicle making under 18 MPG for a newer, more efficient vehicle, onto the $8000 governmental addition to first time home buyers.

I have no idea what he is going for....

I HATE dayton.

Well, I have a 73 Ford I bought from a neighbor kinda as a favor when her Hubby passed for $300. Runs good. I use it for a "backup" car when my other ones are being serviced, etc. I've been looking at the Kiai Spectra LX that sells for under 10k. I rented one recently and it is a nice econobox for the money. So as I understand it, I could trade the Ford on the '09 or '10 Kia and pay the diff of 5k or so for a brand new car with an awesome warranty. Or, I could just take it right out to the auction and sell it for 9k. Seems too good to be true.

[PM Thor]

Well, it's a little more complicated than that Bobbie.

First, your "clunker" has to be built after 1984 (there goes your Ford), and there are other targets that have to be met in order to get the full 4,500. It's pretty convoluted with all the hoops that have to be jumped through...

You do have a point though, about reselling a new car right off the lot. I can't find anything anywhere to stopping this practice, except for the one voucher per person stopgap measure.

I HATE dayton.

[bobbiemcgee]

Wonder if you can just go out to a junkyard and buy an 85 with a good title and have it towed to the dealer? And wonder if the dealer can stockpile old cars, sell them cheap to their customers then flip them into a trade?

[PM Thor]

Nope, cars have to be in driving condition, and have to be owned by the former owner for at least one year. (That could be circumvented pretty easily though, through a shady dealer backdating a title.)

I HATE dayton.

[bobbiemcgee]

Nope, cars have to be in driving condition, and have to be owned by the former owner for at least one year. (That could be circumvented pretty easily though, through a shady dealer backdating a title.)

I HATE dayton.

Haha....you mean a car dealer would stretch the rules? I can see a lot of cars that were "running when they got here". Also lots of states don't require a notary to witness a signature anymore so I see your backdating point. The Gov't plans to scrap the cars, so don't see why they have to run. Also seems a shame to scrap a perfectly good "Xavier Special". Used battery biz should be good. Oh well, hopefully a lot of new Chislers will go away.