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"Cash For Clunkers" announced for electric cars.

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posted on May, 20 2011 @ 05:07 AM
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Apparently the Obama Admin has announced intentions to launch and electric vehicle version

Good for the White House to firmly get behind taking old, beat up petrol powered cars off the road.

www.google.com...




posted on May, 20 2011 @ 05:13 AM
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Nice move, however, everyone has to file their income taxes and only then they'll receive it.

There's always a loop hole somewhere along the lines ... This is basically forcing people to submit their taxes (if they normally wouldn't) to receive cash for the electric cars ...

Wasn't buying an electric car good for the environment? Then why put a clause on the fact that you can only get money towards being good to the environment if you submit how much you earned etc.

This way, some people will end up having to pay back in taxes ... Win Win for the government ... IMO!



posted on May, 20 2011 @ 05:18 AM
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reply to post by faryjay
 


Don't you have to report a new vehicle on your income taxes anyhow? This will go directly to the manufactuer and they will deduct it from the final pre tax sale price of the car. The Chevy Volt lists for $40,500 but with the $7,500 credit that lowers the price to $33,000. The buyer never sees the $7,500 in hand.



posted on May, 20 2011 @ 05:19 AM
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This will be just as big of a fail in my opinion as the first round was. The first round of cash for clunkers virtually killed the used car market driving the prices for a used car through the roof. The average used car 4yrs old now has an average mileage of somewheres of 80 thousand miles plus and they are often selling for thousands more than what they used to sell for because of supply and demand. All these programs do is drive up the price of used cars making it even harder for someone who's cash strapped to be able to afford a vehicle. And lets not even get started on the realisticness of todays electric vehicles. They are not really practical for any kind of long distance commuting thus making them just a toy for the rich folk and for the chevy volt coming in at more than 30k base model, no thanks. When the mileage increases and the price drops by about 15k they might be worth it. Until then I say FAIL.



posted on May, 20 2011 @ 05:26 AM
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Originally posted by TheImmaculateD1
reply to post by faryjay
 


Don't you have to report a new vehicle on your income taxes anyhow? This will go directly to the manufactuer and they will deduct it from the final pre tax sale price of the car. The Chevy Volt lists for $40,500 but with the $7,500 credit that lowers the price to $33,000. The buyer never sees the $7,500 in hand.


I've bought many cars (in the UK) and not once had to report it to the income tax (unless I buy it through the business). Yeah the money off doesn't go into the buyers' hands, it just gets knocked off the "on the road price"



posted on May, 20 2011 @ 05:30 AM
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reply to post by jaynkeel
 


Yeah, the price in comparison to the distance they can travel on one charge is too high. Here the Nissan Leaf (fully electric) goes "according to their books" 100 miles on one full charge and it's worth £25,000 ... This quite expensive for a very small car, not a saloon.

If it was cheaper, people would go for it, regardless of the mileage per charge scenario, coz you can drive around town (where you burn most fuel). In UK 100 miles in a town/city will last for a few days, however, travelling from city to city would be a nightmare. But for me, I travel mostly within my City than outdoors!



posted on May, 20 2011 @ 05:37 AM
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Most people driving old clunkers can not afford electric new cars or the power bills that will come with them

it just like most low income people can not afford solar panels for there homes even though they get state rebates.

the only electric cars most could afford would be these.
www.gemcar.com...



posted on May, 20 2011 @ 06:00 AM
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The cash for clunkers program was HORRIBLE.

Not only did it fail to help people that actually needed it, it hurt them. Instead of a car going to a junkyard where people can get parts for their car, they were destroyed. This was a total ploy to help the auto industry, it had absolutely nothing to do with helping anybody, or the environment.

Not only that, but many rare cars were junked. I don't know if anyone knows what a GMC Typhoon and Cyclone are, but they are quite rare high performance GMC pickups and SUVs with a very devoted fanbase. These American pickups and SUVs beat Ferrari 348ts in the quarter and in 0-60 times, and also beat other exotics in some handling tests. I used to have a Typhoon before having to sell it off due to being unemployed. I loved that car. But anyway, there were pictures of a least three of these automobiles in the cast for clunkers graveyards. These things are worth like 15 grand, are very rare, and some idiot threw it away for a discount on a new car.

The government completely screwed over low income people who rely on the cheap used car market and junkyard parts to repair them.

But no, they want you to be a good little sheep, pay out the arse for a brand new car, and then pay out the arse again to get it fixed at a dealership that rips you off (I've known several people that worked at dealerships, NOBODY that knows anything about cars takes them to a dealership, bad idea)

Sorry for my rant, but I just cannot stand this stupid stuff.



posted on May, 20 2011 @ 06:10 AM
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I wonder if they are going to tell the people about the post-tax implications that come along with the program...

As they didn't last time and many many people were not happy come tax time...

They may as well forget the current electric cars. Just can do the job needed to be done, yet-if ever.

Drill Baby Drill... (he should stick with that one).



posted on May, 20 2011 @ 06:14 AM
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I couldn't afford a new car payment of any kind, so unless the government gives me a free car I'm still driving my 10 year old clunker until the wheels fall off WITH NO PAYMENT.



posted on May, 20 2011 @ 06:15 AM
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reply to post by jaynkeel
 


But, battery technology has been improving.

How about you deny ignorance for once and read some car blogs, etc?



posted on May, 20 2011 @ 06:16 AM
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reply to post by James1982
 


Star for you.

I can't even afford a beat-up used car as they've gone so far up in price. The days of $2000-under used cars are just about over.



posted on May, 20 2011 @ 06:24 AM
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Originally posted by The Sword
reply to post by jaynkeel
 


But, battery technology has been improving.

How about you deny ignorance for once and read some car blogs, etc?


Ok smartass where you gonna charge that battery at when the infrastructure isn't in place yet? I am not being ignorant have you priced a used car lately? If not I suggest you go out browsing the lots? I know the facts I have been out there for a few months looking because I am in need of a new car myself, I entertained the thought of electric at first but that was killed when I discussed the possibility of needing to travel say 1000 miles on a road trip with my kids at some point in the future. And sorry but todays families for the most part can barely afford 1 car let alone 2.

And what does reading car blogs have to do with denying ignorance? The facts are what they are and those facts are that the cars are still too expensive for the average person, the mileage is severely handicapped, and there is no place to consistently grab a recharge at. Hybrids on the other hand make a lot of sense nowdays and relieve some of the problems stated above. Besides how many 7 passenger vehicles are all electric aka like a minivan? I do have 5 kids in tow plus myself and the misses. So a compact 3 or 5 person car ain't gonna cut it. Or maybe at the tune of almost 50k a piece I could buy 2 electric cars!!!
Thats like another mortgage payment your funny.
edit on 20-5-2011 by jaynkeel because: add comment



posted on May, 20 2011 @ 06:24 AM
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Keep in mind several states are already looking to impose extra taxes on these electric cars because they feel their owners aren't paying their fair share since they aren't paying as much in gasoline taxes to use the same roads. Further reducing any financial positives you may be expecting.


 
Posted Via ATS Mobile: m.abovetopsecret.com
 



posted on May, 20 2011 @ 07:50 AM
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Originally posted by The Sword
reply to post by James1982
 


Star for you.

I can't even afford a beat-up used car as they've gone so far up in price. The days of $2000-under used cars are just about over.


Yes, because the former cash for clunkers program removed a good portion of the viable, reliable and above all affordable used cars from the market. None of those cars collected could be sold. They were all destroyed regardless of condition. It was a big mistake. I saw the cars that were spray painted for disposal at one of my local car dealers. It was very troubling to see such waste all in the name of falsely propping up sales figures. Remember all of those car dealerships that were forced to close too???

We are still a long way away from affordable and reliable long range electric cars. They also require maintenance and upkeep and of course energy to charge the batteries.

The Govt. needs to butt out of private industry. Let the market decide which vehicles to buy. The chevy volt is a giant P.O.S. and the fact that our govt will only offer incentives on that specific vehicle from Gobment Motors should tell you something.

Next up ... cars equipped with wind mills to generate their own power..... First we have to rebuild the nations highways to accomodate the size of these new cars.



posted on May, 20 2011 @ 07:54 AM
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reply to post by TheImmaculateD1
 


Hey get your story straight!! This is no way a cash for clunkers program that you stated incorrectly. THis is just another tax credit scam that can only be claimed when you file taxes. They want to turn it into an instant rebate program similar to the clunkers rebate. Not a trade in program.

Your title is misleading.....


U.S. Transportation Secretary Ray LaHood told a group of Nissan executives and workers on Tuesday that the Obama administration wants consumers to be able to get a tax rebate at dealerships when they buy electric cars.

The federal government currently offers a $7,500 tax credit on the purchase of electric vehicles, but that can't be taken until buyers file their income taxes.

LaHood said he expects the change to be a part of any tax bill that is passed in the next year and a half.


From your source

Deny ignorance Please read the story before you start a new thread
edit on 20-5-2011 by jibeho because: (no reason given)
edit on 20-5-2011 by jibeho because: (no reason given)
edit on 20-5-2011 by jibeho because: clarity



posted on May, 20 2011 @ 12:51 PM
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Originally posted by jibeho
reply to post by TheImmaculateD1
 


Hey get your story straight!! This is no way a cash for clunkers program that you stated incorrectly. THis is just another tax credit scam that can only be claimed when you file taxes. They want to turn it into an instant rebate program similar to the clunkers rebate. Not a trade in program.

Your title is misleading.....


U.S. Transportation Secretary Ray LaHood told a group of Nissan executives and workers on Tuesday that the Obama administration wants consumers to be able to get a tax rebate at dealerships when they buy electric cars.

The federal government currently offers a $7,500 tax credit on the purchase of electric vehicles, but that can't be taken until buyers file their income taxes.

LaHood said he expects the change to be a part of any tax bill that is passed in the next year and a half.


From your source

Deny ignorance Please read the story before you start a new thread
edit on 20-5-2011 by jibeho because: (no reason given)
edit on 20-5-2011 by jibeho because: (no reason given)
edit on 20-5-2011 by jibeho because: clarity


If the federal government wants the customer to be able to receive the tax rebate at dealerships (as it says above) then I really don't see how one can say its a scam that can only be claimed when you file your taxes. Currently you do receive the rebate only when you file your taxes but as the source you quoted says the government wants to change that so the customer can get the rebate deducted from the price of the vehicle at the time of purchase rather than when the customer files their income taxes.

Deny Ignorance



posted on May, 20 2011 @ 01:03 PM
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I remember back in the early/mid 90's when CARB (California Air Resources Board- where the EPA takes cues from) was pushing electric vehicles and such (GM EV-1 anyone?) and Ed Begley Jr. bought one 'cause it would save the world, and it was potentially a multi-billion dollar subsidy. People did some research (doesn't take much research, just logical thought) and found that they could buy PZEV Cadillacs (at $40,000 each) to replace "gross polluter" vehicles, and that would clean up the air better than they could do by subsidizing EV's, and would be cheaper.



posted on May, 20 2011 @ 01:11 PM
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reply to post by Dilligaf28
 


Please read my post again. I mentioned how Obama wants to change it from a credit to a rebate. It is still not a trade in your clunker program as stated in the OP. Not even close.

and yes that money will go straight to the car manufacturers so they can record the sales figures at the full sale price.

Here is why I call it a scam


Imagine that: nearly 13,000 Americans tried to scam the government in the first half of 2010 by claiming they purchased an electric car. The false claims amounted to about 20% of credits granted, and totaled some $33 million. Twenty nine of the fake claims were filed by prisoners (why not roll the dice when you’ve got nothing to lose), while other fraudulent claims were actually filed by IRS employees. Currently unemployed IRS employees, I assume. Some taxpayers claimed the deduction for the purchase of a Hummer H3, a Dodge Durango or a Cadillac Escalade, and one form actually tried to claim the credit for purchasing a golf cart.

The $7,500 tax credit was intended to be used towards the purchase of a plug-in electric drive motor vehicle, so even conventional parallel hybrids didn’t qualify for the credit. The same amount was also given for converting a fuel-burning car to a plug-in, which seems to be a common conversion among Toyota Prius owners. The IRS is now working to recover the credits wrongly issued, and says that efforts to reduce incorrect claims helped them protect over $3 million in revenue so far. On the other hand, they could have simply hired a consultant who knows about cars to review manuals and software programs; I’d only charge $75 per hour, which would work out to be a whole lot less than the $33 million the agency paid by mistake

www.automotiveaddicts.com...

So to avoid problems like this they are pushing for the instant "rebate" at the dealer. Which is of course directly applied to the price of the car. Who's getting the actual money???

In the words of one car dealer

"Our problem is how do you turn a tax credit into cash on the hood in the showroom?" he said.
Well you just take it from the taxpayers silly to invest in vehicles that will depreciate over 53% in 3 years. Makes sense??
money.cnn.com...



posted on May, 20 2011 @ 01:33 PM
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reply to post by jibeho
 


I didn't say anything about it being a cash for clunkers trade in program. I simply stated that you say it is a scam to make people pay their taxes so they can get the rebate but the source you quoted says the government wants to change it so the people get the rebate at the dealership.

I am attempting to comment on that and that alone. I am curious how it can be a scam to make you file your taxes if they give you the rebate off of the price of the car at the dealership (which means you would get it without filing your taxes)?

I'm not sure what relevancy the fraud regarding electric vehicle tax credits has with this discussion. In fact the fraud only further reinforces that changing the rebate from being received on your taxes to being received on the invoice at the time of purchase would be beneficial.

As for who actually gets the money if the rebate is applied to the dealership I would think the answer would be obvious. If I go to buy a car that stickers for $35,000 and I only pay $27,500 because there is a credit on the statement for the tax rebate then yes I did indeed receive $7,500 realized through the savings on the final invoice.

And as for the dealerships being able to record the vehicle selling at full price thanks to the rebate change I ask you to consider this: If I pay full price for the vehicle and receive the rebate on my taxes or if the government chips in the $7500 at the time of purchase makes no difference as to what the car sold for. Either way the automaker receives X amount for the purchase of the vehicle.


edit on 20-5-2011 by Dilligaf28 because: change grammer error
edit on 20-5-2011 by Dilligaf28 because: (no reason given)





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