Would you buy a gas hog clunker from the guy down the street for $500 to get...

K

Kevin

New member
...Obama's car voucher? Say you currently own an older fuel efficient car that is essentiialy worthless and won't get you the voucher, and you're in the market for a new car. Wouldn't it make sense to buy the 15 year old Sierra from the guy down the street and trade it in for a new whatever you were going to buy anyway, and have the government send some borrowed money from China to the car dealership to save you 3500 or 4500? An obvious loophole in idiotic legislation, unless I'm unaware of some requirement that you have owned the vehicle for a long period of time.
 
Very good question, first off does it only apply if your looking to purchase a new car from a dealer? What about trading in for a used car?

Anyway, to answer your question.
"How long do I need to have owned the vehicle I'm trading in? The vehicle must be insured and registered in your name and in use for at least one year. "
Since the voucher is only going until Nov, it wouldn't be possible even if you wanted to.
 
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