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BREAKING: House Adds $2 Billion To Cash-For-Clunkers, Senate Is Next Page 2

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Dealers fear that if they complete tradein deals that involve clunkers, they won't get reimbursed for vehicles whose engines they have already had to disable under the rules.

The White House statement attempted to reassure dealers that all valid tradeins would be reimbursed. "Auto dealers and consumers should have confidence that all valid CARS transactions that have taken place to-date will be honored," said last night's statement.

Some have called the program a highlight of the Administration's various stimulus efforts. "This is simply the most stimulative $1 billion the federal government has spent during the entire economic downturn," said Representative Candice Miller (R-MI).

Rules: 22 mpg or more for cars

Under the program, owners of 1984-2002 vehicles with a combined EPA mileage rating of 18 miles per gallon or less qualified for a $3,500 voucher towards the purchase of a new car rated at 22 mpg or better. The maximum voucher of $4,500 was available to those who bought cars rated at 10 mpg (or more) higher than the tradein.

Trucks used a different system; the replacement had to be rated at 18 mpg or better, and also be 2 mpg more efficient than the tradein to qualify for a $3,500 voucher. Improving mileage by 5 mpg or more garnered the full $4,500.

TheCarConnection.com will update this story during the day as news develops. Check back often if you're considering trading in your clunker.

1994 Buick Park Avenue, by Flickr user Rienk Mebius

1994 Buick Park Avenue, by Flickr user Rienk Mebius

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Comments (12)
  1. Of course this program is running short fast. Automobile dealers could teach the crooked bankers on TARP how to steal the money. These thieves will work the system to con the buyer into thinking that he's getting financial assistance. The dealer will get the money and charge full price on the car to the deluded buyer.
     
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  2. And these morons in government under estimated this program! Just wait till health care gets passed! So for thet are 0-2.
     
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  3. I love how folks who oppose the C4C program have had to flip-flop. First, they thought it wouldn't work, wouldn't attract customers. Now that it's going gangbusters, folks like DandJ are blaming the gov't for underestimating C4C's success. My head is spinning from their spin.
    _
    As for conspiracy theorists like Wayne here...well, I'm happy to see they lead such rich inner lives.
     
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  4. Just another example of the Obama administrations' incompetence. From the Spending Package to Cap and Trade to Cash for Clunkers these guys can't get anything right. Call, write E-mail, visit your Congress person immediately concerning the Universal Health Care fiasco, this one will be a real " LIFE CLUNKER" if people do nothing. The enormity of the failure to predict the clunker bills' impact only scares me more over health care. This administration has NO CLUE!
     
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  5. @Bill Burke: Because our current system is working so incredibly well, right?
    Because no one in America has to live in fear of losing every SINGLE asset they own if they get sick?
    Because America spends more on health care than ANY other nation and ranks way, way down in the quality of that care?
    Because you, sir, are completely happy with the coverage that you and your family are allowed to have (after deductions) by the combination of your doctor, your insurer, the third party who your insurer has hired to decide how little treatment you'll get & how much you'll have to pay for it, the AMA and its vested interests?
    Because your employer desperately wishes it wasn't saddled with costs up to $10K per employee that its European and Asian competitors don't have?
    Because every other developed nation thinks the US is bizarre and cruel to its citizens for not providing universal healthcare?
    Christ. The US used to be a nation of people who could DO things. Now the best that passes for leadership is to say "NO" to absolutely ANYTHING.
    When the shrikers, whiners, and complainers like you have an actual reasoned alternative to present to folks like me, you might get some respect.
    Until then, you're not only selfish but pathetic.
     
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  6. cash for clunkers is working.Who would have guessed??? I for one was not hopeful. Its making our earth a little greener while stimulating the economy- Could Barak by finally doing something right??
     
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  7. This is a perfect example of why government should STAY OUT OF BUSINESS-they don't know what they are doing! Look out folks for healthcare...
     
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  8. my 1999 Suburban 1500 4WD was mistakenly not listed on fueleconomy.gov (the 1997 and 2000 versions are listed)so i cannot participate in the program until the government updates it's site...this really stinks!!
     
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  9. Great news. Thanks
     
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  10. Keep the cash flowing, they have no shortage of Cash to WASTE in Iraq, Afghanistan and other places we dont belong!
    RT
    www.privacy-tools.at.tc
     
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  11. I appreciate everyone's opinion, but I'm encouraged that the Cash for Clunker program has been extended. Not only has it helped the struggling auto industry, but it has inadvertently helped auto recycling too. We've seen a significant increase in the amount of scrap vehicles since the program began.
     
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  12. I did some research and made a chart on the Pros and Cons of the Cash for Clunkers program. So Far it's at 6-Pros 12-Cons.
    http://www.CashForClunkersInstructions.com
     
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