Cash for clunkers?

[Pete McCluskey.]

What do you blokes from the U.S. think of the proposed Cash for clunkers legislation? Correct me if I am wrong but my understanding is someone can hand in their old clunker to be crushed and get cash towards the purchase of a new car.
This is designed to stimulate the car market and help the environment?
It seems to me that if all you can afford for you daily driver is a wreck, you may well hand it in, but wont use the cash for a new car because you could not afford one in the first place.
I'm glad that legislation wasn't in place in the sixties we would have none of those wonderful muscle cars to restore today.

 

[Doug S.]

Pete, here in Texas there is such a program in effect. A friend had to have her long-time best friend, her Olds Cutlass station wagon, towed away by an auto salvage yard. In exchange, she received a voucher for a certain amount toward the purchase of a used car that must have met all environmental/safety requirements within the past 12 months. There are other requirements, such as the provision that the party must have spent at least $400 in efforts to get their cars to pass the required annual inspections, or an evaluation must have verified that the cost of bringing the auto into compliance must exceed the value of the car.

These cars must be purchased from a dealer that has signed up to accept the vouchers. The voucher has no cash value, can't be sold or transferred, it can only be assigned to the dealer from whom they purchase a program-eligible car. If they can't afford to get another car, at least they get their old clunkers hauled away for free, I guess.

Doug

 

[Pete McCluskey.]

Well if you hear of anyone about to cash in their 65 Mustang Fastback tell them to call me.

 

[David Sturch]

Pete,
They cash those in on Barrett-Jackson.
Dave