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Cash for Clunkers

We have had 2 customers who were waiting to see if the legislation would pass, who are coming in to purchase because they realized it's not going to pass : Perhaps many have seen this ...

House Approves $106B Bill to Fund Wars in Iraq, Afghanistan
By Perry Bacon Jr.
The House today passed a $106 billion bill funding the wars in Iraq and Afghanistan through September, as House Democrats backed President Obama despite misgivings among the ranks about his strategy in Afghanistan.


The 226 to 202 vote came after Obama and Treasury Secretary Timothy F. Geithner had called some reluctant Democrats during the day imploring them to back the bill, and Speaker Nancy Pelosi (D-Calif.) had strongly pressed her colleagues in a closed-door meeting to vote for the bill in a show of support for Obama, even if they oppose his strategy for increasing troops in Afghanistan. In the end, 221 Democrats voted for the bill, while 32 opposed it.

All but five Republicans opposed the bill after the White House inserted money to fund a line of credit for the International Monetary Fund, which the GOP said amounted to a "global bailout."

"We are in the process of wrapping up the wars. The president needed our support," said Rep. Anthony Weiner (D-N.Y.), who had earlier said he opposed the war funding but voted for it in the end. "But the substance still sucks."

The Senate could pass the war bill later this week, although some senators are threatening to oppose a provision in the bill that provides $1 billion for the so-called "cash for clunkers" program. A bipartisan group of lawmakers in the Senate has complained that the House version of that program, which gives people vouchers of up to $4,500 to trade in their old cars and buy new ones with higher fuel efficiency, does not require high enough gas mileage for the new cars purchased.

Along with the car program and the IMF funding, the $106 billion also provides $7.7 billion to combat an outbreak of pandemic flu. But Congress stripped out $80 million the administration had asked for to start the process of closing the detainee facility in Guantanamo Bay, Cuba. And Congress added a requirement that the administration produce

DAN AND GARY…………..I THINK YOU CAN GET OUR NEW CAR READY PRETTY SOON BOB CALL ME
 
I am kind of torn on the issue...I think depending on your market it may make more sense to wait until cloer to passage of the bill. For example...we have not had anyone ask about it yet here so I think putting too much out there might put a bug in some customers ear that will encourage them to wait.

In my opinion I think all this info is great and it is good to prepare for passage but just make sure it is a fit where you are located.

Oh and I also heard that the bill may have some issues...
 
I am kind of torn on the issue....

One of our executives was too. The simple argument: Do you trade a lot of 7+ year old cars? If you do, then you probably want to be quiet about this thing. If you don't, then you need to get your name wrapped around Cash for Clunkers in your market.....unless you're not going to participate at all.

It did pass the Senate as part of a war-funding piece. Not much further for it to go :thumbup:
 
The problem is vehicles that are older, have high mileage, burns oil, but gets good gas mileage. Anexample

A 1998 Honda Civic with 250,000 miles can not be traded for a Civic Hybrid, because it get decent gas mileage.But a 1998 Ford Pickup truck with 75K miles and gets 16 mpg , gets the $ .... when it is still a vehicle that runs well...
 
You can find flaws in anything. I'm just excited to see a national-level plan that we can use to sell some cars off of! Now that it looks pretty certain this thing is going all the way, the media coverage is going to get super hot and heavy - get ready!
 
I just got off the phone with Brian Pasch, who has built the Cash for Clunkers Participating Dealer Program, and we are partnering with him to receive leads from the Cash For Clunkers Bill | Program Information Qualifications website.

We're also doing some advertising on the program ourselves with Checkered Flag's VA Cash for Clunkers page. I highly advise each of you doing the same - especially if you carry Toyota, Honda, Nissan, Hyundai, Chevy, or Ford - according to Brian, these carry the highest amounts of views and leads. His pricing on the leads isn't bad either at $10 per lead. The way I look at it is it is $10 per lead through the end of September (as the bill is slated to run) - it isn't a huge long-term commitment.

Expect a blog article detailing things a bit more soon.

I spoke with him today as well. We will definintely be signing up for these leads. $10 is cheap and these are people that will never have a better opportunity to buy a vehicle. I don't see how I can lose.