Now looks like you can get rid of a car you own that gets less than combined 18mpg (less for trucks) for it to qualify, you own the car for at least a year, and the new vehicle gets at least 10 more mpg (trucks need to have 2 more mpg than the 'clunker'.
Sure I'm against the whole idea but let's see how we could make it better:
1) Each of the qualifying new vehicles must be 80% or so manufactured in the US (Which means that japanese cars rolling out of US assembly plants would qualify). Sure that would anger some countries, but I think it would also make things interesting. Boost profit for failing US automakers. Reactivate the loan industry (more people buying new cars with that huge subsidy).
2) Allow purchase of motorcyles and scooters (I'd probably do it and pick up a low end Harley for 6-7k). Those usually get great mileage.
Aveo's can be had for 10-11k. That comes out to a pretty good reason to trade and old car in for a new cheap high mpg one. More targets for me to bop around the highway in my full size Ram.
Alas, my car that I don't drive, gets good gas mileage, automatic disqualifier. I somewhat anticipate getting to rebuild the top block, thank you GM for not notifying me of the lawsuit you lost which caused the damage I'm repairing.
So the math... purchase price - 4500 + salvage value of old car = what you pay out of pocket, don't forget to count what you could have sold your old car for. Hybrids I think might still have a tax credit as well. You can also still get from $975 to $1700 on some ford hybrids. Wonder if you can take both?
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