Friday, July 24, 2009

President Obama's "cash-for-clunkers" program starts today. Jeff Plungis, reporter for Bloomberg News, explains how to negotiate the program and if it will really jump-start car sales as intended.


Jeff Plungis

Comments [12]

Gene Westling from Riverdale

There are lots of people like us who have an old car with loads of miles that would like to have participated in the cash for clunkers program. However, our gas mileage rating was 19, not 18 thereby disqualifying us.
My idea for car dealers [like Toyota/GM] is to offer a program that makes us whole with respect to the cash for clunkers deal. In other words, advertise something like "Missed the cutoff for the program but want to trade your car, we'll honor the deal independent of the government. We will knock off $4,500 from the best price in exchange for your car as trade-in." We would jump all over that as I'm sure lots of people like us would. This economy needs people buying cars and putting auto workers back to work.

Jul. 24 2009 11:02 AM
Catherine from Long Island

Yes, the program is "an economic one established to give a spike to the auto industry." Remember, the recession... no one was buying cars, homes or much of anything else several months ago. It is also helping individuals who could not otherwise purchase less polluting cars.

Jul. 24 2009 10:46 AM
Richard Johnston from Upper West Side

The French government program adds an "eco bonus" on new cars that emit less carbon. That might partly go with better gas mileage, but it seems to be a good idea to encourage manufacturers to make cleaner engines, not just more efficient ones.

Jul. 24 2009 10:44 AM
the truth from bkny

and....the cash does not go to the consumer it will go to the dealer??? Ridiculous, car salesmen are already huge scam artists, this is just opening the door for them to sell you more lies!! and a lemon.

Jul. 24 2009 10:43 AM
Edward from NJ

Are there tax implications come next April 15th?

Jul. 24 2009 10:42 AM
kai from NJ-NYC

Exactly Jonathan. A life cycle analysis of a complete construction of even new, more energy efficient car most likely is not balanced out environmentally by prematurely scrapping the first one.

All in all, this program is really an economic one established to give a spike to the auto industry.

Jul. 24 2009 10:39 AM
Jennifer from Forest Hills

Why should we bail out people who bought SUVs? This program is yet another example of bailouts for people who were irresponsible. The moral hazard inherent in this approach is obvious. Why not give some bonus for "behaving well"? If, for example, you buy or have a fuel efficient car, you get some sort of subsidy or tax break?

Jul. 24 2009 10:38 AM
the truth from bkny

Sounds like too much of a hassle...typical government move..just create a schedule someone can go to and match their car up to...say 1980 through whatever, epa miles 18 through whatever and give the darn credit!

Jul. 24 2009 10:37 AM
Tony from San Jose, CA

Let's reward people who bough polluting gas guzzler by giving them some money.

Jul. 24 2009 10:35 AM
Catherine from Long Island

We are trading in our beloved Mazda MPV and also privately selling a Mitsubishi Galant in order to purchase a 2010 Ford Fusion HYBRID! The C.A.R.S program is giving us $4,500.

We loved the Mazda and purchased it when we were expecting our daughter 10 years ago. It is burning gas & will not be able to pass it's next inspection as it needs a new catalytic converter. So while we love it, it is worth nothing in blue book value and it is polluting heavily.

In looking for a hybrid we went to several Toyota and Ford dealerships that were disinterested and actually derisive about the program.

We then found a Ford dealership in Bay Shore, L.I. that was glad to work with us. We are SO thrilled to be able to purchase an American car. Ford has sufficiently improved it's quality and reliability so for the first time in many decades, we feel comfortable not buying a Japanese car. YIPEE!

Jul. 24 2009 10:35 AM
Sharon from Inwood

This is frustrating to me. I upgraded from a '93 Mercury Sable to a '99 Honda Civic, increasing my fuel efficiency from 18 MPG to 33 MPG. And I made this improvement without adding to the emissions involved in building a new car. Where's my cash?

Jul. 24 2009 10:33 AM
Jonathan from Brooklyn

I'd like to see an analysis of the carbon footprint of a new car vs the carbon footprint of driving the clunker till it dies and gets scrapped

Jul. 24 2009 09:55 AM

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