cash back incentive stupidity
Apparently there's a new incentive program "Cash for Clunkers" offering up to 4500 towards a new car, if you trade in a gas guzzler and buy a vehicle that does significantly better in the MPG. It's supposed to boost the American auto industry. Sounds good on the surface, right?
The deal: If you trade in a car getting 18 mpg or less and buy one getting 22 mpg or more, then you get $3500. If the improvemnt is at least 10 mpg, you get an additional $1000 (this is in lieu of your normal trade-in, I believe).
The intent is to get old gas guzzling clunkers off the road, and get new fuel-thrifty cars onto the road. Also promotes auto sales.
So once again, those who have been "bad" will reap the rewards, while those who have been "good" will not. And if you want to play the system, go buy a clunker for $200 before heading out to buy a new car.
And what will this do to the various charity groups that thrive on old car donations?
And since many of the quality high-mpg cars are Asian, how much of that incentive money will actually help the failing American auto industry?
Am I missing something here?
The deal: If you trade in a car getting 18 mpg or less and buy one getting 22 mpg or more, then you get $3500. If the improvemnt is at least 10 mpg, you get an additional $1000 (this is in lieu of your normal trade-in, I believe).
The intent is to get old gas guzzling clunkers off the road, and get new fuel-thrifty cars onto the road. Also promotes auto sales.
So once again, those who have been "bad" will reap the rewards, while those who have been "good" will not. And if you want to play the system, go buy a clunker for $200 before heading out to buy a new car.
And what will this do to the various charity groups that thrive on old car donations?
And since many of the quality high-mpg cars are Asian, how much of that incentive money will actually help the failing American auto industry?
Am I missing something here?