I've been looking over the qualifying rules for the new Cash for Clunkers program, but it looks like it won't make sense for us. We're not looking to take on any more debt, and though we might qualify for the highest redeemable value on my vehicle (since it meets the qualifications of 18 or fewer mpg), it appears it's just applicable for trade in on new cars...not newer used vehicles...despite the increased gas efficiency. To get a new car, despite the great trade-in value with the program, we'd be out a chunk of money, and that's not in the plan right now.
I'll have to doublecheck tthrough a dealer, just to make sure the program only allows all that towards new cars.
It's said when life hands you lemons, make lemonade. I'm not sure my Lemon qualifies...so till we find out differently, we're back to craigslist ads for a bit longer. I'm not sure how popular 8 cylinder engines are at this point, hmmm... :)
5 comments:
I just realized that yesterday, while listening to Dave Ramsey talk about it on the radio.
Sounds like another government sceme to get people to spend money they don't have to "stimulate the economy."
Drives me batty!
Heard on the news last night that the government is pulling the blog on the program; it's been so popular that they are afraid the funds will run out! Guess a lot of people have been "stimulating the economy"....
Thinker...I heard about it on DR too...he made a comment that the cars were being destroyed? That beaters were now becoming even more obsolete - which makes it even harder for people to get out of debt and stay out.
So SO glad to be back to your site again, now that my laptop issues have been fixed! I have enjoyed getting caught up on your summer so far, and now I can STAY caught up!
Thinker, it all happened so quickly in our area they're saying there are a lot fewer vehicles to choose from even if we did have the money. We just can't buy new, though.
:)
Michelle, wow that was fast!
Jennifer, yes, they have to completely destroy the entire car that's turned in...part of the agreement. That's going to make the better-made older cars as scarce as hen's teeth!
Irmaaaaa!! Welcome back!! Was the problem on your end, or does my site have too many photos to load? I hope your summer's been great so far...I've had the flu for about a month and am FINALLY starting to come out of it...whew :) I haven't been reporting here much, so sorry if it's totally BORING reading
:) Robbyn
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