WASHINGTON DC – If you drive an old car (relatively few real estate sales people do) or if you drive a big car (a surprising number of real estate people do) or if you drive any other car that gets poor gas mileage – say, 18 mpg or less – know that the federal government is smiling upon you.
But only if you want to trade that guzzler in for something new and more energy-efficient.
The U.S. Senate last Friday (June 19, 2009) approved what is called the “Cash For Clunkers” program, which according to Reuters News Service would give consumers cash vouchers worth up to $4,500 when they trade in used low-miles-per-gallon vehicles for spiffy new ones that sip rather than swallow fuel. The House has already passed the measure. Once the President signs it into law, it likely will take effect in August.
The program has less to do with saving the environment than it does with saving jobs. Cash For Clunkers is an economic stimulus bill off-shoot intended to help auto manufacturers and dealers move more cars off their lots. Car sales during 2009 are expected to be about half of the 2008 total, so to boost the numbers the government will refund a portion of the purchase price to buyers of new, not used and new-to-you, vehicles.
The federal Transportation Department will administer the program. It plans to create a public website where consumers and dealers can get more information; it will certify “cash for clunkers” dealers, and it will distribute the vouchers.
Again, none of this is expected to happen before August, and the credit may not be retroactive, so licensees who want to take advantage of the offer probably should wait until the details are finalized.
Then, vroom vroom!
