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RE: How to Get Stimulas Money for Car Purchase - 6/25/2009 11:05:01 AM
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kernsfamily
Posts: 831
Joined: 4/26/2006
From: Dallas (originally Detroit)
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wow...as someone who lives in Texas....and just might be able to "double dip"....it's VERY tempting....(to, of course, get a GOOD replacement used car, that I can pay cash for)....
my current car is a 1997 with over 160,000 miles on it. Haven't thought seriously about replacing it, because it runs great, and I drive it ONLY to/from work, which is a 64 mile roundtrip.
BUT, I have been putting together a plan to get it replaced in the next year or so....before something happens, and I get into the situation of NEEDING to replace it immediately.....
but, with the federal program, how would it be determined that my car does not meet the "magic" 18mpg standard? the MPG rating from when it was new?
_____________________________
Proud dad of 3 great girls....Blessed to have all of them in a "totally awesome" public elementary school!
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RE: How to Get Stimulas Money for Car Purchase - 6/25/2009 11:17:04 AM
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kernsfamily
Posts: 831
Joined: 4/26/2006
From: Dallas (originally Detroit)
Status: offline
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just noticed a BIG, HUGE "exception" to the Federal car purchase program...
The car you are purchasing must be a NEW car....
Leave it to Obama to direct/encourage people to buy a car in a financially irresponsible manner! UGH!
want the facts? CLICK HERE
this "car replacement bill" isn't worth the paper it's written on.
< Message edited by kernsfamily -- 6/25/2009 11:23:38 AM >
_____________________________
Proud dad of 3 great girls....Blessed to have all of them in a "totally awesome" public elementary school!
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RE: How to Get Stimulas Money for Car Purchase - 6/25/2009 2:51:53 PM
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Mark0
Posts: 100
Joined: 11/16/2005
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Don't forget. The program isn't slated to start until August at the earliest and only has 1 billion earmarked for it. Also, don't reply to email scams that offer to sign you up for the "coupon". Its a federal program, not something you can sign up for in an email.
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I'm on Facebook at mark0
http://theessentialpart.blogspot.com
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RE: How to Get Stimulas Money for Car Purchase - 7/10/2009 8:50:12 AM
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Pamsy
Posts: 737
Joined: 5/4/2005
Status: offline
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I just looked this up, if anybody was still wondering.
How do I know if my car or truck is an eligible trade-in vehicle?
There are several requirements (but you also have to meet certain conditions for the car or truck you wish to buy). Your dealer can help you determine whether you have an eligible trade in vehicle.
Your trade-in vehicle must
have been manufactured less than 25 years before the date you trade it in
have a "new" combined city/highway fuel economy of 18 miles per gallon or less
be in drivable condition
be continuously insured and registered to the same owner for the full year preceding the trade-in
The trade-in vehicle must have been manufactured not earlier than 25 years before the date of trade in and, in the case of a category 3 vehicle, must also have been manufactured not later than model year 2001
Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.
_____________________________
1 Chorinthians 13 vs. 4-8. Love is patient, love is kind.......Love never fails."
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RE: How to Get Stimulas Money for Car Purchase - 7/10/2009 1:36:53 PM
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blessedinnyc
Posts: 2962
Joined: 10/12/2007
From: NYC by way of Chicago
Status: offline
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quote:
ORIGINAL: kernsfamily
just noticed a BIG, HUGE "exception" to the Federal car purchase program...
The car you are purchasing must be a NEW car....
Leave it to Obama to direct/encourage people to buy a car in a financially irresponsible manner! UGH!
want the facts? CLICK HERE
this "car replacement bill" isn't worth the paper it's written on.
Still think it's a good deal for Texans- $7.5K towards a new car.
I usually buy my cars one year used. Apparently, there are a lot of foolish people who drive a new car for one year, take 25% in depreciation, and sell it back to the dealer for another new car.
I then buy a basically new car with a warranty for 25%-30% off the new price.
However, if the feds were giving me $7500 towards a new car, I'd take the deal if I were interested in a car that cost less than $20K. Especially if I also get to deduct sales tax this year as I'd be able to in Texas.
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RE: How to Get Stimulas Money for Car Purchase - 7/10/2009 1:51:04 PM
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kernsfamily
Posts: 831
Joined: 4/26/2006
From: Dallas (originally Detroit)
Status: offline
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quote:
ORIGINAL: blessedinnyc
quote:
ORIGINAL: kernsfamily
just noticed a BIG, HUGE "exception" to the Federal car purchase program...
The car you are purchasing must be a NEW car....
Leave it to Obama to direct/encourage people to buy a car in a financially irresponsible manner! UGH!
want the facts? CLICK HERE
this "car replacement bill" isn't worth the paper it's written on.
Still think it's a good deal for Texans- $7.5K towards a new car.
I usually buy my cars one year used. Apparently, there are a lot of foolish people who drive a new car for one year, take 25% in depreciation, and sell it back to the dealer for another new car.
I then buy a basically new car with a warranty for 25%-30% off the new price.
However, if the feds were giving me $7500 towards a new car, I'd take the deal if I were interested in a car that cost less than $20K. Especially if I also get to deduct sales tax this year as I'd be able to in Texas.
MY 1997 buick lesabre does not meet the "requirements" for the federal program.....it's gets a "combined" MPG of 20.
Though, it meets the requirements for the state program!
I buy 3-4 year old cars...when the depreciation is closer to 50-70%. I just run the wheels off of it anyway. (the car i use for commuting)....
we tend to buy newer for a minivan or whatever for the "primary car"....
_____________________________
Proud dad of 3 great girls....Blessed to have all of them in a "totally awesome" public elementary school!
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