My only concern - the cars can be replaced by any new car that meets gas mileage criteria, no matter where it is manufactured. It is meant to help the environment and our struggling auto makers, but it will fail in the latter. It should be strictly limited to cars manufactured in America, IMO.
Chrysler is matching the $$$, but they make few cars that meet the criteria for the program. Anyone want to buy a Sebring?
Actually, I'm in the market for a new mink. I'm kinda tired of wearing this fur...At least it is an idea so I won't knock it totally. But buying a new car is, without question, one of the worst investments you can make with your hard earned cash. Even if you are given a $4500 voucher for a new car, you will loose far more than that the minute you drive it off the lot and you will have a car payment to suck up more of your monthly income.
It is like a 20% off sale on a mink coat; sounds great but do you really need the coat and do you want to be responsible for the monthly payment to pay it off? Then again a mink coat holds its value far better than a new car.
I am also afraid that people will get caught up in the "sale mentality" and go out and buy a car they really can't afford. Then when the rubber meets the road [pun intended] it gets repossessed or sold at a loss. The result of this will be just more bad debt.
I vote...Ugly
The government doesn't have a right to do this. You guys are feeding into the nanny state. Your grandchildren are being enslaved with debt that you are helping to create.
Which "you guys" are you referring to? I don't support the plan - just pointed out a way that I would change it since it has been passed.
Seriously, too many people are screaming into the wind - wishing that Obama had not been elected or that Americans had not become so socialistic. Too late. Time to embrace our future (while planning for the collapse). We have come too far down the road of government subsidies and support to turn back. Too many Americans rely on the government for their day to day sustenance.
Look into the abyss. It is dark and deep. But individuals with a plan can avoid its depths, even if America cannot...