I guess it is a good idea but less than 1% of the population is going to benefit from this program.
Stimulus my balls!
Come up with something better Obama!
Summary: Once signed into law, the program will allow consumers to trade in older, dirtier vehicles in exchange for a voucher of up to $4,500 to help pay for the purchase or qualified lease of a new, more fuel-efficient vehicle.
The program will be authorized through November 1, 2009.
The trade-in vehicles must:
Be in drivable condition.
Be continuously insured and registered to the same owner for at least one year.
Have a combined fuel economy value of 18 mpg or less (Work trucks must be pre-2002 regardless of mpg).
Not be more than 25 years old with historic or aesthetic value.. These vehicles are valued by hobbyists or are a valuable source of restoration parts.
New vehicles
The new vehicle must have a manufacturer's suggested retail price of less than $45,000.
Passenger Cars: The older vehicle must get 18 mpg or less. New passenger cars with mileage of at least 22 mpg are eligible for vouchers. If the mileage of the new car is at least 4 mpg higher than the old vehicle, the voucher will be worth $3,500. If the mileage of the new car is at least 10 mpg higher than the old vehicle, the voucher will be worth $4,500.
Small Trucks and SUVs: The old vehicle must get 18 mpg or less. New small trucks or SUVs with mileage of at least 18 mpg are eligible for vouchers. If the mileage of the new truck or SUV is at least 2 mpg higher than the old vehicle, the voucher will be worth $3,500. If the mileage of the new truck or SUV is at least 5 mpg higher than the old vehicle, the voucher will be worth $4,500.
Large Light-Duty Trucks: The old vehicle must get 18 mpg or less. New large trucks (pick-ups and vans weighing between 6,000 and 8,500 pounds) with mileage of at least 15 mpg are eligible for vouchers. If the mileage of the new truck is at least 1 mpg higher than the old truck, the voucher will be worth $3,500. If the mileage of the new truck is at least 2 mpg higher than the old truck, the voucher will be worth $4,500.
Stimulus my balls!
Come up with something better Obama!
Summary: Once signed into law, the program will allow consumers to trade in older, dirtier vehicles in exchange for a voucher of up to $4,500 to help pay for the purchase or qualified lease of a new, more fuel-efficient vehicle.
The program will be authorized through November 1, 2009.
The trade-in vehicles must:
Be in drivable condition.
Be continuously insured and registered to the same owner for at least one year.
Have a combined fuel economy value of 18 mpg or less (Work trucks must be pre-2002 regardless of mpg).
Not be more than 25 years old with historic or aesthetic value.. These vehicles are valued by hobbyists or are a valuable source of restoration parts.
New vehicles
The new vehicle must have a manufacturer's suggested retail price of less than $45,000.
Passenger Cars: The older vehicle must get 18 mpg or less. New passenger cars with mileage of at least 22 mpg are eligible for vouchers. If the mileage of the new car is at least 4 mpg higher than the old vehicle, the voucher will be worth $3,500. If the mileage of the new car is at least 10 mpg higher than the old vehicle, the voucher will be worth $4,500.
Small Trucks and SUVs: The old vehicle must get 18 mpg or less. New small trucks or SUVs with mileage of at least 18 mpg are eligible for vouchers. If the mileage of the new truck or SUV is at least 2 mpg higher than the old vehicle, the voucher will be worth $3,500. If the mileage of the new truck or SUV is at least 5 mpg higher than the old vehicle, the voucher will be worth $4,500.
Large Light-Duty Trucks: The old vehicle must get 18 mpg or less. New large trucks (pick-ups and vans weighing between 6,000 and 8,500 pounds) with mileage of at least 15 mpg are eligible for vouchers. If the mileage of the new truck is at least 1 mpg higher than the old truck, the voucher will be worth $3,500. If the mileage of the new truck is at least 2 mpg higher than the old truck, the voucher will be worth $4,500.