Smart for Clunkers

[jetfuel]

Originally Posted by Krootie

Well! Why not? I traded my Continental for my Silver Fox! No regrets.

..oh..you silver fox you...or should I say cougar...

jetfuel

[ADilwicius]

I work in the Auto industry and have been following this closely. Unfortunately most people are not clear on the Cash for Clunkers program. If you car gets better then 18mpg on street of Highway it does not qualify... That eliminates most cars the only people who will benefit from this are people with older large SUV's and Trucks. Just another nice idea with poor execution. Germany did a similar but better program and saw a 30% increase in sales. Analyst here are expecting around 7% increase in sales.

[jwight]

Keep in mind that's 18 mpg combined under the new 2008 test standard. Our Town Car wouldn't qualify under the previous test standard, but it does under the new standard. Worth checking those older cars at Fuel Economy.

[John_H]

I still have no idea how the mileage will be gauged for older cars.

My friend's 1995 Nissan pickup wasn't tested with the new 2008 test standard. Data from fueleconomy.gov shows only one of 4 engine/transmission combinations with better than 18mpg city, they all have better than 18mpg highway, and there is no combined data. It doesn't make sense that mileage values when the car was purchased should apply since 15 years of (rather serious) deterioration has occured since that time.

So how will it be determined?

Will we ever really know?

[PerryA]

Excluded on two counts - bought last year and my previous car did better than the 18 mpg. Am I being punished for being responsible?

[jwight]

Originally Posted by PerryA

Excluded on two counts - bought last year and my previous car did better than the 18 mpg. Am I being punished for being responsible?

No, you did it for the right reasons. The rest of us will do it for the money.

[Orphan-Beggar]

Jump the Queue, Crush a clunker, Overpay for a Pure....
http://ne.edgecastcdn.net/800E0A/www...ers-062509.pdf
*Financing for qualified buyers available through Daimler Financial Services at authorized smart center dealerships registered in the CARS program. Not all customers will qualify. Subject to credit approval by the lender. $99 monthly payment based on customer trade-in of an eligible vehicle qualifying for the CARS $4,500 voucher level and a 36-month balloon loan with $0 cash due at signing and a final balloon payment of $6,667 at the end of the loan term and a $13,335 MSRP which includes the destination charge and excludes tax, title and dealer fees. 5.9% APR financing for 36 months at $11.32 per month, per $1,000 financed. Restrictions apply for eligibility for the $4,500 voucher under the CARS program; please see CARS.gov - Car Allowance Rebate System - Home for details. Offer only applies to new and unused 2009 smart fortwo model vehicles. Visit your dealer for complete details on this and other finance offers.
smart USA - Cash-for-Clunkers

[John_H]

Orphan-Beggar:
Do you think someone is trying to cheat the numbers somewhere?

There's no over-pricing involved - straight MSRP - and I would think there's no queue issue, just unsold orphans.

[Orphan-Beggar]

Originally Posted by John_H

Orphan-Beggar:
Do you think someone is trying to cheat the numbers somewhere?

There's no over-pricing involved - straight MSRP - and I would think there's no queue issue, just unsold orphans.

smart boldly advertises 4.2% at
smart USA - open your mind to the car that challenges the status quo
I meant "over-finance", rather than 'overpay'

[John_H]

And that 4.2% price was a one-month only thing. End of Junes, isn't it? That's Tuesday you have to act by to avoid "overpaying."

NHTSA should have the program up and running by the end of July. From NHTSA.gov:

The Act requires NHTSA to issue final regulations implementing the CARS Act within 30 days after the enactment of the Act, i.e., by July 24.

5.9% is more "competitive" than 4.2%. The low June rate is an incentive - as in "subsidized." So you don't get what equates to a rebate from Smart if you wait to get the rebate from the government. Similarly, you may see cash-back rebates or other incentives from car companies reduced in the coming month.