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Suggestion you CAN "afford" that new car/truck this year---maybe?

BILL WARD

SGF, Supreme Grumble Framer
at least a little more???

via AFS news letter
On March 30, 2009, the Internal Revenue Service announced that taxpayers who buy a new passenger vehicle this year may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns next year.


put that together with you 'incentive' $$ a replace the old beater
 
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Jerry Ervin

PFG, Picture Framing God
The House is working on a 'clunker law' right now to help encourage people to trade cars.

If you have a vehicle over 10 years old, no matter what condition it is in, car lots will have to give you a $3500 trade in value for it.

That would help a lot of folks to trade.
 

simplymatted

SGF, Supreme Grumble Framer
Yeahhhhhh but there is still a payment, Ill keep my 1997 explorer. 200,000 miles and no leaks and no rust. Sorry banks.
 

Bob Doyle

SPFG, Supreme Picture Framing God
Other hoops to jump through for the money though. My car is old enough, but the mileage is too good, so it doesn't qualify!
 

Bill Henry-

SPFG, Supreme Picture Framing God
Wait a minute! A thirty-five hundred dollars credit that will reduce tax revenues? Why, so it will help pay off the “bailout money” we’re all stuck with? That and the $8.00 month tax cut I’m so looking forward to will really bring the economy back on track.

I wish I had gotten my degree in Economics. I coulda drunk my way through school; I wouldn’ta had to study nothin’.

Any kind of fuzzy thinking seems to fly nowadays.
 

FramerPhil

CGF, Certified Grumble Framer
Can't you just live with what you have?

Is there a real desperate need for that new vehicle?

:shrug:
 

Rhonda in MT

MGF, Master Grumble Framer
My financial planner friend says they are doing this to get rid of existing inventory the dealers can't sell. Just think of all those dealers sitting on millions of inventory with outstanding balances to GM Ford etc. When I thought of the auto bailouts I didn't take into account dealers and buyers. What will your new chevy be worth if GM goes bankrupt and who will honor the warranty?
 

couture's gallery

PFG, Picture Framing God
there is also a deal ( check with your CPA) where if you buy a medium or heavy duty truck or suv for business you can write off the whole depreciation in the first year..I think they still have that deal going.
 

Jerry Ervin

PFG, Picture Framing God
Do we really think that Uncle Sam will let GM fail? Chrysler maybe, but not GM.

GM builds all of the personnel transport vehicles that the military uses. All the tanks also. And road tractors. The name of the company is AM General. Also don't forget HUM-Vs.

We have just inked a deal to buy new fighter jets. The cost will be $140 Million each. We are buying 2550 of them. When you do the math on that, it comes to 35.7 Billion. Wouldn't you like to be the one that closed that sale?

I can't find the sales figures for AM General yet, but I bet the money volume is similar.

Is it really that they are 'too big to fail' or is it they are our military supplier?


The spin on the 'clunker law' is that it takes old inefficient vehicles off the road and replaces them with safer and more fuel efficient cars and trucks.

It gets money flowing in the economy again too.
 

SportShots

CGF II, Certified Grumble Framer Level 2
Th 82 VW diesel pickup has a show quality paint job and gets 42mpg in the winter running #1 diesel and 46-51mpg in the summer on the better quality diesel. The engine has 224,000 on it and doesn't burn oil, has good compression and still runs strong. The CD/Cassette/AM-FM radio is newer and works well. The camper shell keeps the back covered and protects stuff as I travel and deliver work.

Why would I believe the car sharks who tell me what a great deal I am going to get on a new car that gets 33mpg, costs 20-40 thousand $$$ and will cost more to insure each year than I paid for my older truck? Two years insurance equals the truck cost, maintenance & the custom paint job as well as the upgraded disk brakes I put on it.

All the incentives won't work because I can't get the 60-90mpg VW vehicles from Europe here in the US.

If they really want to give us 'a deal', bring in the 40-60mpg vehicles and quit pushing the pigs off the lot.

It is the same old story as they try selling us something we don't really need: "Who you gonna believe, us or your own lying eyes?"
 

Pat Murphey

SPFG, Supreme Picture Framing God
If they really want to give us 'a deal', bring in the 40-60mpg vehicles and quit pushing the pigs off the lot.
VW did bring the 40-60mpg Jetta over here, but your dollar math still works in your favor. When they put the new turbo-diesel in the Jetta wagon, it might be the best "new" option.
 

jsuth

CGF II, Certified Grumble Framer Level 2
You mean my '99 Toyota minivan (120,000 miles) is worth $3,500 regardless of condition? Don't they deduct for Juicy Juice stains?
 

Steven6095

SGF, Supreme Grumble Framer
I have a friend who has connections, etc.
Apparently the $3500 part of the bill is looking more and more of a reality.

I am thinking this way....

My 1997 Saturn with 160,000. + tax rebate for the sales tax, etc.
I would LOVE one of the little $10,000 Hyaundai cars to use as a business vehicle.

So......$10,000 - $3500 = $6,500.00 with no sales tax
Yes I would happily trade in my car for a $6500 new car : )

Now.....I dont see many $40,000 SUV sales being created due to $3500, but cheaper cars I think will really pick up.

(note: $3500 applies to US makers only, but the other companies will be matching without goverment money)
 

David N Waldmann

SGF, Supreme Grumble Framer
When they put the new turbo-diesel in the Jetta wagon, it might be the best "new" option.
Uh, they already did. Granted, it's a nice offering, especially with the $1500 tax credit that's available, but it's still an awfully expensive "economy" car.

What they need to do is put the diesel in the Rabbit and then bring over the Polo with the 3 cylinder diesel.
 

rocknrollron

CGF, Certified Grumble Framer
So....if I take my old clunker and bring it to a used car lot I get $3500 trade-in; then I purchase a new military Hummer for my business....I end up getting everything for nothing, the IRS oweing me money, and....I saved the American economy?

Right?
 

couture's gallery

PFG, Picture Framing God
you don't have to get a Hummer....you can buy a hybrid Yukon or Subrban or hybrid pickup and get the trade in deal..the quick write off dael and the deduction for buying a hybrid...it's not a bad deal, really, if you need a big vehicle like I do for towing boats and travel trailer etc.
 

Steven6095

SGF, Supreme Grumble Framer
Sheesh never thought about it that way

Sec 179 write off.
$3500 back and the discount for the alt energy vehicle.
 

JRB

PFG, Picture Framing God
My old jeep gets me from home to work, or the store, or the airport, just fine. I am well beyond the age of thinking I need a nice car, so assorted people will think well of me.

My relatives don't care what I drive, I'm not trying to impress the ladies any more, so I don't care what I drive, and since I park behind my store, my customers could care less what I drive either.

My jeep is paid in full, gets reasonable mileage, and burns almost no oil. I am close to the ocean, so it does have some rusted out areas due to the salt air.

I can not think of one logical reason to go into debt for any vehicle, so I don't believe I will.

John
 

SportShots

CGF II, Certified Grumble Framer Level 2
One additional point on this topic.
Check with your local shops and see what a new paint job costs and what it costs to put the vehicle in tip-top shape mechanically.
This is often much less expensive than 'new' anything.
Seats, custom upholstery, refinishing and refurbishing all work well and the money gets spread around the community more than just the car dealership and bank.
 

Steven6095

SGF, Supreme Grumble Framer
I am a little PO'ed on something.........

I want a new HHR panel version and it wont quality for Sec 179......
Its a cargo van so it fits one catagory, but its nose is too long.......
 

couture's gallery

PFG, Picture Framing God
Bought me a new truck yesterday.

There is nothing nicer than that 'new car smell'.
what did you buy ...details please., just curious.
 

Steven6095

SGF, Supreme Grumble Framer
Jerry - congrats on the new truck!

Now enjoy the toxins that make up the new car smell : ) LOL
 

couture's gallery

PFG, Picture Framing God
good truck...I've had 3 Dodges with the 360 engine.....all went over 200,000 miles and half of that towing heavy trailers....but they sure are gas hogs...what engine didi you get?
 

Jerry Ervin

PFG, Picture Framing God
I got the 318

Same engine as the one I traded in. My trade in had 181,000 on it and I put every mile on it. During it's time the only non-maintenance thing I had to replace was the starter. That was six months ago. $60 at Advance.

They do use a little more gas than Ford and Chevrolet, but with the deal I got, I can buy a lot of gas. The same options truck from Toyota was over 32k with the same EPA mileage and power.
 
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