Cash for clunker bill could be your reason to buy a new car - KCBD NewsChannel 11 Lubbock

6/3/09

Cash for clunker bill could be your reason to buy a new car

By Ann Wyatt Little  - bio | email

LUBBOCK, TX (KCBD) - Prices at the pump are on the rise and every mile per gallon counts. That is why some members of congress introduced a bill that would give you a voucher for your gas guzzling clunker. 

A 1994 Chevy Sport Van worth $400 according to the Kelly Blue Book, but if the bill becomes law what some consider a hunk of junk could become a small pot of gold. 

They are old and look like a bunch of junk but look a little closer and these clunkers could be your ticket to a new car. If you own a car that is eight years or older and it gets less than 18 miles per gallon  Congress is considering giving you $3,500 to $4,500 voucher as long as you trade your old car in for something more fuel efficient. But, $3,500 to $4,500 is all you're likely to get for your vehicle which must have been registered to the same owner for the past year and must get at least four miles per gallon less than the car you're trading up for.

Frontier Dodge General Manager Bobby Ray says the bill, if passed, would be a good move for both buyers and dealers. "I think it'd be a great thing. One more reason to come out and buy a car. With GM and Chrysler filing for bankruptcy, we'll come back stronger, but it's another incentive to purchase new and used cars," he says.

D.C. Wrecking Manager Karen Shirley says she's got lots of car parts that her crew takes off used vehicles to be re-sold but this new bill would require vehicles to be sent straight to the crusher, which Shirley says could crush her cash flow. "A lot of our inventory would be obsolete. We'd have to take it to the final recycling state and for example on a $20 wheel we'd get 25 cents," she says.

Shirley says the bill has good points about pollution, but adds she's already in the recycling business and this bill would prevent her from selling the good parts she knows she has.  "The crusher is the end of the line, shred the vehicle and it goes back to making steal," says Shirley.

The idea is to take those vehicles with low miles per gallon off the streets to save you at the pump, improve environmental standards and boost auto sales. The Senate is expected to vote on this bill this week.

©2009 KCBD NewsChannel 11. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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