Quote:
Originally Posted by happygirl
So is the basis of this "incentive" that you get money if you trade in your old car for a new GM or Chrysler? It hasn't actually become law yet though right?
While I also don't think encouraging people to buy new vehicles is wise in this economy and I see what you are saying about inflating sales stats, I am actually looking to buy a truck soon so I'd like to know the specifics of it, just in case it could affect me in a positive way.
Thanks!
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It is not law, yet.
It actually would apply to
any brand of new car, not just GM and Chrysler. Your current vehicle has to be below a certain MPG threshold, and the new vehicle has to be above a certain MPG threshold. So, unless the truck you are planning to buy gets 25 MPG or more, and you currently get 10 MPG or less, you might be out of luck.
Lets not forget that dealers will probably just increase prices, or add additional options and packages to cars meeting the criteria because they can "hide" it better when people are applying a $4500 credit.
These programs already exist and work in Europe. But, here, as soon as it was announced as a possibility, people were trying to find ways to profit from it and "beat the system". Any initiative like this has zero chance of success in the US without a fundamental shift away from the "how can I get stuff" collective mentality we seem to have.