Cash for Clunkers Could Be Done at Midnight Tonight Cash for Clunkers Could Be Done at Midnight Tonight
Date posted: 07-30-2009
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DETROIT ? Transportation Secretary Ray LaHood has alerted key senators that the Cash for Clunkers program is expected to run out of money as early as midnight tonight.
Earlier rumors suggested that the Department of Transportation could make an announcement this evening regarding the status of the Clunkers program and how close the program is to running out of its $1 billion allocation.
If LaHood's concerns are correct, the DOT could announce the program has run out of money completely or could suspend it temporarily while deals in the pipeline are completed and an assessment is made of how much has been spent, Washington sources tell AutoObserver.com.
A DOT spokesman said no announcement is scheduled, but if an announcement is made, it would be posted on the Web site for the Car Allowance Rebate System (CARS).
From the start, the program called for a November 1 expiration or the depletion of the $1 billion in funding. It is clear the program will run out long before November 1 and could run out in a matter of days.
As of Thursday morning, the CARS Web site showed $779 million of the $1 billion remained. The roughly $220 million used represents transactions dealers have submitted for government reimbursement and administrative costs.
Replies
148Beach Fanatic
As someone who has worked in aging, the way the right has tried to spin that part of health care reform actively angers me. EVERYONE over the age of 55 needs to sit down with their doctor and talk about what their wishes are for a plan for care and who should hold power of attorney for them if they are suddenly in a health crisis and unable to make those kinds of decisions on their own. Because if you don't and have sudden health issues, it gets insanely messy to sort everything out after the fact and you may end up in a situation where your real wishes are not known or respected.
And if you're under that age, you should still discuss with a loved on what your care plan should be if you survive getting hit by a bus.
I agree with planning ahead. I did this as soon as I left my parents home at age 19. Why age 55? Does risk go up substantially at that age? Just wondering.
Beach Fanatic
Frankly the govt. should also now do this with flat screen TV's--I have too many of the old type that I would like a trade in for--this could be the start of something really good, ya'll! 

Edited
Beach Fanatic
I picked 55 because it's ten years before most people would even think of those issues.
SoWal Insider
I heard on CNN tonight that a majority of the cars purchased were foreign.
We really need to turn healthcare over to these folks, they obviously have their (you know what) together.
We really need to turn healthcare over to these folks, they obviously have their (you know what) together.
Beach Fanatic
A fair number of cars from overseas companies are built in the States. My old Corolla was assembled in California; my Subie was born in Indiana. Not quite the same as supporting Detroit, but buying those kinds of cars does tie back into American jobs nonetheless.
SoWal Expert
A fair number of cars from overseas companies are built in the States. My old Corolla was assembled in California; my Subie was born in Indiana. Not quite the same as supporting Detroit, but buying those kinds of cars does tie back into American jobs nonetheless.
The big Toyota plant in Kentucky doesn't just employ the Japanese-
And the Ford plants bought many parts from foreign owned companies- my husband worked for one of the Japanese suppliers.
Find me a car that is truly all American made or all foreign made.
Beach Fanatic
I heard on CNN tonight that a majority of the cars purchased were foreign.
We really need to turn healthcare over to these folks, they obviously have their (you know what) together.
Is the problem that the foreign plants in the US do not employ many union workers? Is that not causing a problem for the all the new employees of the US government that are stationed at GM and Chrysler?
Moderator
I heard on CNN tonight that a majority of the cars purchased were foreign.
My old Accord? Built in KY
My Honda Goldwing? Built in Marysville, OH
BMW 3 series? Spartanburg, SC
Then there's that huge new Kia factory just below LaGrange, GA.
What is truly a foreign car these days?
My beef with the system is that it should pay out for clunkers that get low gas mileage, or is that part of the criteria?
Beach Fanatic
My beef with the system is that it should pay out for clunkers that get low gas mileage, or is that part of the criteria?
Yep.
The cash for clunker requirement in a nutshell are:
Cars--Cars and trucks must be 1984 models or newer. The most recent and complete list of cash for clunkers qualifying cars is HERE.
MPG--Eligible cars must get 18 mpg or less in combined highway/city rating
Paperwork--Owners need to show dealers their car's title, and proof of insurance and registration.
Car Rebates-- $3500 if the car gets at least 4 mpg more than the trade-in or $4500 rebate if the car gets at least 10 mpg or more than trade-in.
Truck Rebates-- For SUV's pick-up or minivans, a rebate of $3500 if the new vehicle gets at least 2 mpg higher than the old vehicle or $4500 if it gets at least 5 mpg more than the trade-in.
Cash for clunkers requirements
SoWal Expert
I don't understand why people are so upset aboout this program - at least in this scenario we are encouraging people to buy vehicles w/ good fuel efficiency, NOT gas guzzlers whose heavy vehicle weight deteriorates our roads and bridges.
Even if people are buying "foreign" cars (which as others pointed out aren't all that foreign), they are still buying them from a dealer in the US, paying sales tax on them, paying for license plates, titles, etc.
I'd like the MPG improvement requirements to be higher, but even with the additional $2 billion they added to the program, it's still a fraction of the amount of money we outright LOST while shipping pallets of cash to Iraq.
People are buying the products of a hard hit industry, states are getting fees for their bare/empty coffers, and we are putting vehicles on the road that use less gas (which will help keep gas and oil prices low) and release fewer emissions. I see that as a win-win.
Even if people are buying "foreign" cars (which as others pointed out aren't all that foreign), they are still buying them from a dealer in the US, paying sales tax on them, paying for license plates, titles, etc.
I'd like the MPG improvement requirements to be higher, but even with the additional $2 billion they added to the program, it's still a fraction of the amount of money we outright LOST while shipping pallets of cash to Iraq.
People are buying the products of a hard hit industry, states are getting fees for their bare/empty coffers, and we are putting vehicles on the road that use less gas (which will help keep gas and oil prices low) and release fewer emissions. I see that as a win-win.
Edited
SoWal Insider
I don't understand why people are so upset aboout this program - at least in this scenario we are encouraging people to buy vehicles w/ good fuel efficiency, NOT gas guzzlers whose heavy vehicle weight deteriorates our roads and bridges.
Even if people are buying "foreign" cars (which as others pointed out aren't all that foreign), they are still buying them from a dealer in the US, paying sales tax on them, paying for license plates, titles, etc.
I'd like the MPG improvement requirements to be higher, but even with the additional $2 billion they added to the program, it's still a fraction of the amount of money we outright LOST while shipping pallets of cash to Iraq.
People are buying the products of a hard hit industry, states are getting fees for their bare/empty coffers, and we are putting vehicles on the road that use less gas (which will help keep gas and oil prices low) and release fewer emissions. I see that as a win-win.
I agree generally with the concept, except the feds aren't exactly swimming in cash right now - the money is borrowed. It also promotes people taking on more debt, which IMHO is not the lesson government should be teaching.
Beach Lover
Hold the phone??? You mean Obama gave us a measly $1 Billion Federal Government program that any of us could qualify for assuming we meet the specific criteria he outlined. The program ran out of funding after 31 days and 2x the original funding immediately gets released to keep the program alive. Phewww.....Thank goodness Obama can gleam those "lessons learned" over a cold Bud Light and nothing like this will ever happen again
I don't understand why people are so upset aboout this program - at least in this scenario we are encouraging people to buy vehicles w/ good fuel efficiency, NOT gas guzzlers whose heavy vehicle weight deteriorates our roads and bridges.
Even if people are buying "foreign" cars (which as others pointed out aren't all that foreign), they are still buying them from a dealer in the US, paying sales tax on them, paying for license plates, titles, etc.
I'd like the MPG improvement requirements to be higher, but even with the additional $2 billion they added to the program, it's still a fraction of the amount of money we outright LOST while shipping pallets of cash to Iraq.
People are buying the products of a hard hit industry, states are getting fees for their bare/empty coffers, and we are putting vehicles on the road that use less gas (which will help keep gas and oil prices low) and release fewer emissions. I see that as a win-win
I'm not arguing the merits of the program. Is there any dispute that Federal Government programs designed to give taxpayers some of our money back unequivocally helps us as well as our overall economy (ie tax decreases, tax credits, rebates - it's all $$)??? My issue of concern involves the Feds spending our tax money

What I previously stated in this post (above) referred to the pathetic fashion in which our Federal Government handles any type of Spending/Entitlement Program. Take Cash For Clunkers. Good idea, seems like the public is for it, and all it needs is a paltry $1 Billion in funding. Surely-implementation of such a small program for the good of the people would be efficiently simple? Forget the funding crisis for a moment - Have you heard of the countless problems reported around the country such as these??
Cash For Clunkers Comes with Problems
Scrap yard set for clunkers | Philadelphia Inquirer | 08/01/2009
89.3 KPCC | Popularity and problems with "Cash for Clunkers"
Federal Government Spending/Entitlement programs are nice for some but they cause numerous unintended consequences for others. The Feds estimated $1 Billion in funds would cover Cash For Clunkers for 4 months. So they set aside the funds to pay for this, established the red tape (the rule book for this simple Federal program is only a couple of hundered pages long), and let us have at it. After only 4 days-what happens? The program exceeded cost projections including that pesky line item financial experts refer to as a "budget." Here is how some people define "budget;" a financial plan established to manage the spending and saving of money. So what happens next-Congress is expected to approve $2 Billion in additional funds for Cash For Clunkers which according to my calculator-is an additional sum 2 times as large as the originally scheduled budget!!. And it only took 4 days to require $2 Billion in additional funds (of our money) :scratch:. Healthcare Reform is conservatively estimated to cost $1 Trillion, according to Government "Budget Experts." Here is a definition of $1 Trillion - if you spent $1 Million per day every single day since Jesus was born thru today, you would only have spent approximately three quarters of $1 Trillion. Another way to look at it; $1 Trillion seconds = 32,000 YEARS! Now of course, $1 Trillion is simply a proposed "Budget" from our Federal Government experts! Surely they could not be wrong again

Banned
Since the Bush administration wiped their asses with it for eight years I'm surprised you could even read it.
how???
Well, you lean to one side, reach back and---oh come on! you know how this is done.
SoWal InsiderAuthor
[ame="http://www.youtube.com/watch?v=LidmCvdUMeg"]YouTube - Cash for clunkers kill the chevy[/ame] !!
SoWal InsiderAuthor
[ame="http://www.youtube.com/watch?v=8XnGNiL6fGo&NR=1m"]YouTube - Cash for clunkers trade in special[/ame] !!
SoWal InsiderAuthor
!![ame="http://www.youtube.com/watch?v=qjBilHH5z2A&feature=related"]YouTube - Cash For Clunker Engine Stop Lynch GM Superstore[/ame]
SoWal Insider
For some reason those videos made me sad. One thing is for sure, that last Jeep did not give up without a serious fight! Go Jeep!
Edited
SoWal Insider
For some reason those videos made me sad. One thing is for sure, that last Jeep did not give up without a serious fight! Go Jeep!


SoWal Expert
Does anyone find this program to be not so "green?" Obama is all about green, and small carbon footprint, supposedly, yet this program crushes the autos being traded in, thereby leaving people who are still driving older autos, with no spare parts, which means that more carbon is created by producing new parts for these older vehicles still on the road. The first three rules of being green are:
1) reduce
2) reuse
3) recycle
Seems to me that we should be reusing resources which are currently in existance rather than recylcing the scrap metal into new parts. It would be much more Earth friendly, but I guess Obama is a politician, so I'm not surprised.
Did anyone know that the original bill included $4 billion for this program and it was shoved into the "emergency war funding" bill? 'Tis true.
1) reduce
2) reuse
3) recycle
Seems to me that we should be reusing resources which are currently in existance rather than recylcing the scrap metal into new parts. It would be much more Earth friendly, but I guess Obama is a politician, so I'm not surprised.
Did anyone know that the original bill included $4 billion for this program and it was shoved into the "emergency war funding" bill? 'Tis true.
SoWal InsiderAuthor
SoWal Expert
I think the sad part of that second video is that Jeep would probably have brought $8500+ if they were trying to sell it. Tires, wheels, engine, transmission, window, doors, fenders, hood, etc, would have probably brought $4,500 by piecing them off, and they would have been of valuable use to someone, rather being crushed. Oh, well, until the people begin to think for themselves, we will continue to have such wasteful and useless gov't programs.
SoWal Expert
SJ - you think the program isn't green because while they are encouraging trading in vehicles for those with lower emissions and higher mileage, they aren't selling them for parts?
What exactly are they doing w/ the trade ins? Recycling the metal? Letting them rot in junkyards? I find it hard to believe they aren't using them for parts.
What exactly are they doing w/ the trade ins? Recycling the metal? Letting them rot in junkyards? I find it hard to believe they aren't using them for parts.
SoWal Insider
I think the sad thing is that some of the cars that have been junked are decent cars. The requirements are such that the vehicle has to have been registered and insured for the past year , and in running condition right?
Why didn't the gov't just offer to resell these vehicles really cheap, like 500.00 and still give the credit on a new car?
There are many many people that could use a car that just runs. They don't care about a scratch or dent or that it gets 18 instead of 20 mpg. I don't understand destroying something that someone somewhere could use. Maybe it's just me.
Why didn't the gov't just offer to resell these vehicles really cheap, like 500.00 and still give the credit on a new car?
There are many many people that could use a car that just runs. They don't care about a scratch or dent or that it gets 18 instead of 20 mpg. I don't understand destroying something that someone somewhere could use. Maybe it's just me.

Beach Fanatic
Just Announced: If you have a wife or husband with bad gas, the govt. is now allowing you to get the $4,500 trade in for them as well.
SoWal InsiderAuthor
Just Announced: If you have a wife or husband with bad gas, the govt. is now allowing you to get the $4,500 trade in for them as well.bad gas
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Thank goodness Obama can gleam those "lessons learned" over a cold Bud Light and nothing like this will ever happen again