Newsline

Toyota car models are the top choice among American consumers visiting the Cash for Guzzlers and Cash for Clunkers websites in the past 30 days.  Consumers whom requested assistance with qualifying their existing car to trade-in for a new fuel efficient car picked Toyota as their new car choice more than any other car manufacturer.

Honda, Ford and Chevrolet cars were the second, third and forth choices by consumers which is an easrly indicator of which car dealers would benefit most if the bill was approved.  See chart below:
 

Email Alerts

Consumers who would like an email notification when the bill is approved and signed into law, should use our Email Alert signup form in the upper corner of this website.

Cash For Guzzlers Participating Dealers

Consumers who want the best information on their trade and the car they want to purchase, should complete the form on the left.   Fill in the car you would be trading in and indicate the car that you want to purchase.

We’ll have a local Cash for Guzzlers Participating Dealer contact you.   They will be able to assist you with your new car purchase once the bill is signed into law.

A Cash for Guzzlers Participating Dealer will qualify your trade and present you with a competitive price quote. There is no obligation or fee for the service. Please make sure you include your state and phone number or we can not match you to a local provider.  This way you will be prepared when the bill passes to take advantage of the limited time cash voucher.

Many American’s who could use a new fuel efficient car and could benefit from the anticipated cash vouchers offered in the Cash for Clunkers bill would not qualify for a new car loan. The bill would reward consumers driving old “clunkers” if they traded their cars in for a more fuel efficient model.

However, many America’s who are struggling with unemployment, layoffs and foreclosures will not be able to qualify for a new car loan.  In fact, there has been an upsurge in used car sales at local car dealers who offer a Buy Here Pay Here model.  In this business model, dealers offer consumers the ability to purchase used cars with a payment plan that takes into consideration poor credit.

Buy Here Pay Here

A “Buy Here Pay Here” dealer group in Ohio called ABC Motor Credit is one automotive retailer that has actually seen an uptick in business.  Sam Snellenberger, an executive at the company commented; “In this economy, consumers need reliable transportation to get to work.  We match them with a car and a payment that they can live with; many have had their cars repossessed.  For many consumers, ABC Motor Credit is their last chance to be able to drive to work or find a new job that requires transportation.”

Consumers with poor credit are hoping that the proposed Cash for Guzzlers or Cash for Clunkers bill provides additional support for consumers hit hard by the recession.  Some opposing voices to the current draft of the cash for Clunkers legislation say that the bill is not doing enough to allow consumers with low credit to utilize a cash vouchers.  Some opponents actually have petitioned that the vouchers should not be made available for wealthy Americans.

With poor credit a reality for many Americans living in 2008, used car sales will continue to rise and consumers with poor credit may be forced to drive less fuel efficient cars because they will be priced in the marketplace at the bottom of the value scale.

Drive Forward America Act

The current status of the Cash for Guzzlers bill is still under scrutiny and compromise with Washington laymakers.  A new effort called Drive Forward America Act is another effort to get a cash voucher system passed this summer.  Senators Debbie Stabenow (D-MI) and Sam Brownback (R-KS) are backing this new measure in a bi-partisan effort.

The Cash for Guzzlers measure, also known as the Cash for Clunkers program, moved closer to becoming law as the proposal was overwhelmingly approved by the House Energy and Commerce Committee. The Cash for Guzzlers proposal was attacked to an important climate change bill being reviewed by the US House Energy Committee.

The Vote

The Cash for Guzzlers proposal passed with a 50-4 vote by members of the House Energy and Commerce Committee that is lead by Hon. Henry A. Waxman, Chairman

According to Dow Jones  ” Specifically, it provides vouchers worth $3,500 to $4,500 to consumers who trade in old cars for new ones that have an average fuel economy that is between two and 10 miles per gallon higher than those being trading in. It allows for rebates on around 1 million cars, costing taxpayers $4 billion for the program.

The amendment is part of a controversial and historic bill that aims to cut greenhouse gases by 80% over the next half-century. The Democratic leadership aims to pass the bill out of committee by the end of the week and hopes to get approval for the legislation in the full House in late June or early July.”

Read full Dow Jones story by Ian Tally

The Cash for Guzzlers bill  would give a needed boost the the ailing auto industry.  With recent franchises  being closed by Chrysler and GM, the bill could provide some needed relief for the battered auto industry.

Critics of the cash voucher bill claim that the measure does not go far enough to mandate cars with higher fuel efficiency. Some consumer critics contend that the bill should only be available for low income families.  Vocal opponents contend that the rich don’t need the cash incentives.