Skip to main content ↑ ↓
Topic: Cash for Clunkers plan pulled from stimulus (Read 10955 times) previous topic - next topic

Cash for Clunkers plan pulled from stimulus

Reply #60 –
You didn't see it coming because it isn't true. Dear Lord, I wish people would verify things before spreading rumours around.

http://www.cars.gov/faq#category-06
2015 Mustang GT Premium - 5.0, 6-speed, Guard Green - too much awesome for one car

1988 5.0 Thunderbird :birdsmily: SOLD SEPT 11 2010: TC front clip/hood ♣ Body & paint completed Oct 2007 ♣ 3.55 TC rear end and front brakes ♣ TC interior ♣ CHE rear control arms (adjustable lowers) ♣ 2001 Bullitt springs ♣ Energy suspension poly busings ♣ Kenne Brown subframe connectors ♣ CWE engine mounts ♣ Thundercat sequential turn signals ♣ Explorer overhead console (temp/compass display) ♣ 2.25" off-road dual exhaust ♣ T-5 transmission swap completed Jan 2009 ♣

Cash for Clunkers plan pulled from stimulus

Reply #61 –
Quote from: Thunder Chicken;288646
You didn't see it coming because it isn't true. Dear Lord, I wish people would verify things before spreading rumours around.

http://www.cars.gov/faq#category-06


in another thread, i saw this one coming when one of our initial c4c threads were going,,or perhaps another related thread.

your thoughts now?

Cash for Clunkers plan pulled from stimulus

Reply #62 –
You've confused me, Scott (admittedly not a hard thing to do). MY thoughts on what?
2015 Mustang GT Premium - 5.0, 6-speed, Guard Green - too much awesome for one car

1988 5.0 Thunderbird :birdsmily: SOLD SEPT 11 2010: TC front clip/hood ♣ Body & paint completed Oct 2007 ♣ 3.55 TC rear end and front brakes ♣ TC interior ♣ CHE rear control arms (adjustable lowers) ♣ 2001 Bullitt springs ♣ Energy suspension poly busings ♣ Kenne Brown subframe connectors ♣ CWE engine mounts ♣ Thundercat sequential turn signals ♣ Explorer overhead console (temp/compass display) ♣ 2.25" off-road dual exhaust ♣ T-5 transmission swap completed Jan 2009 ♣

Cash for Clunkers plan pulled from stimulus

Reply #63 –
taxable ,
the CARS program isnt taxable as income on the federal level as "claimed" for now but might / is at the state level depending on the state taxation laws.

two problems think i see..
1-
At the dealer, you pay tax on the sticker price and then after that, your rebate is added in. 

2-
A lot of states indicate that 3rd party rebates are taxable and should be entered as income on your yearly state tax form.


I guess my point is , this whole ordeal could be a cleaner cut so to speak in that anyone who partited should have paid taxes on thier car after the rebate was calculated.  In additon, the states could have simply made an exemption for this instance.  The states saw this coming in well before the consumer and was hoping for a pile of cash. 

One indicator would tell me how much sucess the program had.  If the states come out and say there will be an exemption, the the program did not meet thier expectations : ie-the potential revenue was not worth the hastle.

or..
on the otherhand, if the states do nothing, this would tell me that a substantial amount of cars sold and letting it go would wave bye bye to a lot of tax money: ie- the program was a success.