Cash for Clunkers

Here’s the scoop on the new Cash for Clunkers (otherwise known as CARS) program. Although signed by Obama it's still in the process of being implemented, but here are some basics.

Only registered dealers can participate in the program.
For the consumer, there is no enrollment, voucher or sign up sheet. All the work is done by the participating dealer. You make the best deal you can and if the vehicle you trade and the vehicle you buy meet the program qualifications, the price of the new vehicle is reduced by $3500 to $4500 and the dealer applies for a credit from the government. The amount of credit depends on the type of vehicle you buy and the difference between the new vehicle and your trade.

Basic qualifications for your trade in include:
It must be less than 25 years old
It must have had an EPA fuel economy rating of 18 mpg or less
It must be in drivable condition
It must be insured and registered to YOU for 1 year prior to trading it

Choose a NEW vehicle with an MSRP of $45,000 or less then buy or lease it for 5 years or longer. For more information see www.cars.gov

Sound good? Now for the obamanation of what could have been a good program…
Part of the deal requires your trade to be DESTROYED. Therefore, it no longer has a trade in value more than scrap iron.
So, someone trades in a vehicle maybe 10 years old, gets $3500 to $4500 for it, which may be what it would be worth without the program. Then, instead of becoming someone else’s kid’s first car, the vehicle helps contaminate our already overflowing landfills with toxic waste and hazardous materials.

Worst of all, the program applies to foreign vehicles as well as American made automobiles so there’s no patriotism in this program either. We’re not doing the country a favor, we’re no doing the planet a favor.
I think this program's a clunker and if the government wants to spur the economy and help the US car industry, they should impose stiffer tariffs on the imports to level the playing field.
In this tough economy, you would be better off trading up from a heavy older vehicle to a newer more fuel efficient American made vehicle. Citizens have been doing it for 100 years without the feds getting involved. That way profits from the sale go to the neighborhood dealer and your old car becomes someone elses new car. It's kind of like recycling without the blue bag.
Where's Al Gore when we need him?