Here we go- 1989 Volovo dl wagon 5 speed.
Estimated New EPA MPG
21
Combined
According to this I don’t qualify.
But…
If I click on Use Your Gas Prices &
Annual Miles…and input all City driving miles I make the cutoff…
There isn’t anywhere in the bill where it says I can’t use the sliding scale…
Just a thought
I’m confused…why don’t you qualify?
I think the owners present car must not get better than 18 mpg. This program is not for the image of what you think a person driving a clunker should be (clunker is a poor choice of words) This is a program for people who still have jobs and can still get a car loan.
The 136 page document issued today (www.cars.gov/files/TheRule.pdf) describing the details of the program, says only the EPA Combined mileage figure will be used. No other computation for mileage will be accepted.
Don’t trust any “Cash For Clunkers” websites except the official government site:
Any web address ending in .com is suspect, and not to be trusted.
Method 1 is the only method the US Government accepts. You do not qualify.
As I understand it the final official rules have not yet been set. Dealers are interested in selling now so they are making deals, but I would be careful and make sure that any deal you make now is final and the dealer can’t come back and say, sorry you did not qualify so you don’t get the money.
It appears to also say that your trade=in must be scrapped/crushed . . . which means that the dealer will be getting only scrap value for your trade-in plus the $4500 you get . . . kinda makes it hard to trade anything in to qualify except a real junker. Rocketman
I’m still learning about this. But as I understand it, the dealer will get a “financial credit” 10 days after the transaction. Is this a “credit” toward their tax burden?
Also, if a dealer discounts your cost $4500 on a qualified vehicle that he would have otherwise discounted $4500 for your trade in, does not that mean that you save nothing and the dealer gets the full price plus the vehicle’s scrap value?
In other words, are our tax dollars being used to subsidize the dealers? (this question is rhetorical…of couse they are)
Gee, I feel so economically stimulated.
The program already started; the rules are set.
I agree. It is a very limited program to get the lowest mileage old cars off the road. I heard Congress debate this law, and they referred to the cars repeatedly as clunkers. The likelihood that someone driving one of these cars would have the money for a new car or the credit for a loan seems low to me. I’d be surprised if all the money is spent.
The dealer is required to give you a trade-in including a written value for your trade. It will not include the scrapped drive train. He can sell the other parts, and you are supposed to get a fair trade for it.