Posted: 8/14/2009 8:26:14 AM EDT
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Is the "cash for clunkers" program like the "no questions asked - cash for guns" programs, or will they want proof of ownership before giving me money?
I think that a lot more people could benefit from the program if they don't require proof of ownership. |
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Does this scenario work?
I have X vehicle that would qualify under the CFC program. I get into an accident. The car is totaled and the Insurance Company pays me for the vehicle. Would I be able to buy the vehicle back and turn it in for the CFC program? *No I have no intention of doing such, but was actually quite curious* |
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You don't get the money from the government, you get a discount from the dealer, who submits paperwork to the DOT for reimbursement.
The IRS processes the paperwork, correcting errors and/or denying the claims. The fraud on this is going to be trough the roof. The only real beneficiaries of this program will be politicians. I work at the IRS (not for much longer), and it always amuses me to see how happy people get to be bribed with their own money. Don't get me wrong, if you're in the 55% or so of Americans that actually pay income tax, by all means take advantage of an opportunity to get some back if it's a good financial decision for you. Just don't forget that the program is costing you a lot more than the money you're going to get from buying a car you otherwise wouldn't have, especially down the road when the Socialists point at your behavior and claim that the Cash for Clunkers was a success, based on the fact that so many of you bought a car, so we should do more programs like that!!! The pocket you are picking is your own (unless you are one of the people who doesn't pay income tax anyway). TANSTAAFL, and there never will be. It's an illusion. You are being sold the rope with which you will be hung. |
| registered and insured for 1 year. no floods or salvage/rebuilt titles. they cannot get over 18 mpg. what a covert way to screw us again. most of the peolpe with vehicles that qualify cant afford a new vehicle anyway. so they will default! what a lovely thing to do...screw the economy and charities and small business owners at the same time. you go nobama!!! |
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Quoted:
Is the "cash for clunkers" program like the "no questions asked - cash for guns" programs, or will they want proof of ownership before giving me money? I think that a lot more people could benefit from the program if they don't require proof of ownership. Drivable, registered and insured for the last year. |
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Quoted:
Does this scenario work? I have X vehicle that would qualify under the CFC program. I get into an accident. The car is totaled and the Insurance Company pays me for the vehicle. Would I be able to buy the vehicle back and turn it in for the CFC program? *No I have no intention of doing such, but was actually quite curious* No. You need to keep the ins company from totalling it. Tell them you want the car and repair $$$. |