July 28, 2009

You didn't really want that new car you just bought, did you?

I'm sure this is leaving a warm and fuzzy feeling in the mouths of both buyers and dealers.

Some car shoppers are finding that their trade-in vehicles, which qualified for a Cash for Clunkers rebate last week, don't this week thanks to changes in the EPA's fuel economy ratings.

In some cases, car buyers say, dealers are backing out of sales they've already made because the EPA changed the fuel economy figures on their trade-in.

The article continues with the usual CNN tactic of finding that one family that will tug at our heartstrings - the family that purchased a new car, and was later told that they would have to either pony up the additional $4500 or turn in their new car. Can a car that's been driven for a couple of months and then returned even be sold as new?

The law that created Cash for Clunkers
(PDF warning) allowed the Feds 30 days from enactment to have all this crap in place. That's...um...tomorrow.
Title XIII, Section 1302 (f) Information to Consumers and Dealers- Not later than 30 days after the date of the enactment of this Act, and promptly upon the update of any relevant information, the Secretary, in consultation with the Administrator of the Environmental Protection Agency, shall make available on an Internet website and through other means determined by the Secretary information about the Program, including--
(1) how to determine if a vehicle is an eligible trade-in vehicle;
(2) how to participate in the Program, including how to determine participating dealers; and
(3) a comprehensive list, by make and model, of new fuel efficient automobiles meeting the requirements of the Program.
If this act were really designed to help America's economy, wouldn't the qualifying cars for purchase be limited to American owned or manufactured vehicles?  It will be interesting to see how much of the surge in auto purchases goes to overseas companies.  The blatant bread and circuses the Obama administration has handed the people with this bill may be the only transparent thing the administration has done thus far.

Posted by: Alice H at 01:29 PM | Comments (6) | Add Comment
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