Comments on: Cash For Clunkers: smart fortwo Gets Maximum Incentive

By: Cuong Huynh

Cuong Huynh — Tue, 21 Jul 2009 18:28:48 +0000

Judy T.: Thanks for the link and your comment is right on. I’m not fan of government rolling out programs too quickly to try solving certain problems, which this seems to be the case. Lawmakers need to think about protecting the consumers with every program they put out. My initial reaction about this CARS was one of uncertainty as there seem to be too many open ends, especially relating to having to visit dealers. We all know sales tactics and car dealers very well. So buyers beware. I’ve put a special note on both articles.

By: Judy T.

Judy T. — Tue, 21 Jul 2009 18:12:18 +0000

It's already not very hot. Reports of scams online and at dealerships as the plan nears. Read: http://tinyurl.com/nlv3ed

By: Cuong Huynh

Cuong Huynh — Tue, 21 Jul 2009 17:18:43 +0000

karenc: Not quite sure that I understand your point. Old cars (clunkers) are eligible for this programs not because “they get over 18 mpg or don’t run,” as you stated. In fact the traded in car must be in operating condition to be eligible. There are other requirements that consumers have to meet, as I’ve discussed in the article “Car Allowance Rebate System (CARS) or Cash For Clunkers Program Kicking Into Gear” and I’ve also recognized that the charity industry may be one of the losers in this “cash for clunkers” deal. I agree charity is always a very good option, but the $3,500-$4,500 cash incentive will beat out the tax incentives for many people.

By: karenc

karenc — Tue, 21 Jul 2009 16:52:06 +0000

Many cars will be eligible for a cash for clunkers voucher beacuse they get over 18 mpg or don’t run. An alternative for those cars is car donation. By donating a car to charity, the donor gets a tax deduction and the charity gets some money when they recycle the car.