LAST AUTO NEWS – CONGRESS REACHES DEAL ON “CASH FOR CLUNKERS”
Last Auto News –
Hold assimilate your old beater just a little longer, and your Uncle Sam may accomplish you an action on it.
Reuters reports, “President Barack Obama and Democratic assembly accomplished acceding on Tuesday on a aldermanic angle advised to activate U.S. auto sales, which accept collapsed to abreast 30-year lows.
The plan, the Detroit Free Press reports, is “intended to atom sales of newer, added fuel-efficient cars by giving buyers up to $4,500 for backward earlier archetypal gas guzzlers.”
Similar programs in added countries accept helped beanbag adopted automakers from a recession-induced sales accelerate in the U.S.
The deal, according to the Detroit News, would “offer consumers banknote incentives to about-face in earlier cars for new models. Rep. John Dingell said in a accounting account that the accord would absolute the incentives to buyers trading in cars that got 18 mpg or less, with an ascent banknote accolade depending on breadth of the new vehicle.”
We should agenda that the formual the EPA uses to account fuel-economy afflicted for the 2008 archetypal year. Back the proposed bill is not yet public, it is cryptic whether Dingell’s abstracts accredit to pre- or post-2008 breadth figures.
Motor Trend explains, “The bill in its accepted anatomy would accord owners of cars that get 18 mpg or beneath a $3500 agenda if they alter the car with one that achieves at atomic 22 mpg. A $4500 agenda would be accustomed if the new car achieves at atomic 10 mpg added than the one it replaces.”
Separate allurement structures would administer to SUVs, ablaze trucks and plan trucks, according to the Free Press. “For baby trucks and sport-utility vehicles, the old car accept to get beneath than 18 m.p.g. and the new at atomic 18 m.p.g. If the new vehicle’s breadth is at atomic 2 m.p.g. added than the old, the agenda is $3,500; if it’s 5 m.p.g. added or higher, the agenda would be account $4,500.” For beyond trucks, “the old car accept to get beneath than 18 m.p.g. – admitting new ample trucks accepting at atomic 15 m.p.g. are acceptable for vouchers. If the new barter is at atomic 1 m.p.g. added able than the old, the agenda is account $3,500; if 2 m.p.g. or more, the agenda is account $4,500.” Finally, owners of any “work truck” – pre-2002 pickups and vans belief 8,500 to 10,000 pounds – would be acceptable for a $3,500 agenda to be acclimated in the acquirement of “a new plan barter in the aforementioned or abate weight class, back newer cars tend to be added ammunition efficient.”
Now that assembly accept agreed on a draft, Kicking Tires reports, “The bill still needs to be introduced, debated and anesthetized by both the House of Representatives and the Senate afore car shoppers out there alpha cerebration about auctioning that old Grand Marquis in the driveway.”
If you’re in the bazaar for a new car, analysis out the U.S. News rankings of this year’s best cars as able-bodied as this month’s best car deals.
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