LAST AUTO NEWS – WOULD YOU BUY A NEW CAR IF CONGRESS HELPED PAY?
Last Auto News –
With agitation advancing over how (and whether) to save the U.S. auto industry from failure, a new angle has emerged: advice Americans buy new cars.
Senator Barbara Mikulski (D-Md.) is abaft the proposal. The Baltimore Sun explains, “Under a bill pitched today by Sen. Barbara Mikulski, consumers will get a tax breach if they buy a new commuter car through the end of the year — a angle advised to get Americans into auto showrooms to buy cars in the face of an bread-and-butter slowdown.” The tax breach she proposes would be acting and acquiesce consumers to abstract the sales tax, fees and absorption paid on new cars purchased afore Dec. 31, 2008. To be covered beneath the plan, a car would acquire to amount beneath than $49,500. Individuals earning over $125,000 per year, or families earning over $250,000, would not be eligible.
Bloomberg letters that Agent Mikulski affairs to acquaint the legislation on November 17.
While the plan is advised to abetment afflicted U.S. automakers, the Sun notes, “The tax breach would acquire to be activated to all auto manufacturers, including adopted companies, because of all-embracing barter regulations.”
Kicking Tires explains, “According to the senator, a ancestors would save $1,553 on a $25,000 car beneath the plan.”
Autoblog comments, “Nobody is absolutely traveling to accuse about accepting a tax break, but it seems that buyers acquire already apparent that they’re wary, even with absurd deals to be had.”
The absorption answer may be decidedly meaningless, with added than a third of the cars on the bazaar today now accessible with interest-free loans. But it ability accomplish it added adorable for car shoppers to assurance up for longer, interest-bearing loans with lower account payments, acquire a abatement from the automakers and administer that money against a down payment. If you’re in the market, the angle bears watching. We’ll accumulate you acquaint as the legislation moves forward.
Regardless of whether Mikulski’s plan succeeds, there are abysmal discounts and costs deals accessible on a huge alternative of cars appropriate now. Research the best car deals for November with U.S. News’ car rankings and reviews
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