07/28/09 – The federal government wants your gas guzzler off the road, and is willing to pay for the privelege. So all you have to do is make a deal and drive your old car into the dealership, driving away in a new, more fuel efficient car. Provided, that is, your trade-in value is below what the government will pay for the old car. Here are most of the rules:
That’s what several folks did a few days ago – they made a deal for a new car under this program, and after the CARS program (yes, it’s really called that) went into effect, they found out the car they brought in didn’t qualify as a clunker, or the car they arranged to purchase didn’t qualify for the mpg spread. The EPA, who sets the mileage ratings on the vehicles, changed the ratings of about 100 cars, just days after the legislation was signed. I’m wondering a few things…
1. If the program is in effect beginning July 1, and the law wasn’t signed until July 24, how do the purchasers in-between get their rebate?
2. Will dealers, who made arrangements with buyers for now unqualified trades, allow those agreements to be renegotiated?
3. Does the $45,000 MSRP include options, or is it the base price?
4. How will the dealers know when the money runs out if it happens before Nov 1?
All good questions people have asked me in the last few days.