Cash For Clunkers - Terminats on August 24th!

Secretary LaHood Announces Wind Down to Hugely Popular CARS Program

U.S. Transportation Secretary Ray LaHood announced Thursday that after a wildly successful run, the cash for clunkers program willcome to a close on Monday, August 24th at 8 p.m. EDT.

“This program has been a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work,” Secretary LaHood said. “At the same time, we’ve been able to take old, polluting cars off the road and help consumers purchase fuel efficient vehicles.”

As of today, the CARS program has recorded more than 457,000 dealer transactions worth $1.9 billion in rebates.

The Car Allowance Rebate System, as it is officially known, has sparked intense interest, filling auto showrooms with buyers and revitalizing manufacturing plants. As a result of the program, automotive inventory has been depleted and both General Motors and Ford are ramping up production, adding shifts and rehiring laid off workers.

“It’s been a thrill to be part of the best economic news story in America,” Secretary LaHood said. “Now we are working toward an orderly wind down of this very popular program.”

The program has provided rebates of up to $4,500 when people turned in their clunkers for fuel-efficient vehicles. Most consumers have turned in trucks and SUV’s in exchange for passenger cars, with an improved gas mileage of about 60 percent.
Secretary LaHood said the Monday night end date will allow car dealers and buyers plenty of time to finalize purchases and submit applications for rebate from the remainder of the $3 billion provided by Congress. Based on conservative estimates of valid transactions so far, DOT analysts have projected that there is enough money to continue accepting submissions until the Monday deadline.

Applications for rebates will not be accepted after 8 p.m. EDT Monday and dealers should not make further sales without receiving all the necessary paperwork from their customers. Dealers are also strongly advised to submit complete applications, which will expedite payment. Dealers will still be able to resubmit rejected applications after the deadline. The Department of Transportation is continuing to expand the number of people processing dealer applications for rebates by adding federal workers to the outside contractors currently at work.

For more information, please call Bernardi Honda at 800 254-0013 or visit Bernardi Honda at 960 Worcester Road in Natick. MA

American Honda Sales For July 2009

On August 3, 2009, American Honda Motor Co., Inc., announced July vehicle sales for their Honda Division of 106,028.

Sales of the fuel-efficient Honda Civic increased 3.1 percent to 30,037. Honda CR-V, a best-seller in the crossover utility vehicle segment, increased sales by 9.9 percent to 19,151.

"Strong interest from the CARS (aka Cash for Clunkers) program increased dealership traffic late in the month and contributed to Civic and CR-V sales gains," said John Mendel, executive vice president of American Honda Motor Co., Inc. "July was our highest-volume month so far this year."

Cash For Clunkers Infused with $2 Billion

On Thursday night the Senate approvded the long awaited $2 billion extension to the extremely successful "Cash For Clunkers" program. Officials expect the additional funding will carry the program through Labor Day and will be adequate for a half of million new cars to be purchased.

In addition to saving consumers $3,500 to $4,500 on the cost of a new vehicle, MSNBC estimates the average Cash For Clunkers buyer will save $700 - $1,000 per year in fuel costs.

The Cash For Clunkers program is very complex and tedious for a new car dealership to properly administer. As a result, some large local Boston dealers have withdrawn from the program. Bernardi Honda, on the other hand, is committed to the Cash For Clunkers program and will continue to participate in it as long as government funding for the program is available. In suport of this commitment, Bernardi Honda has truck loads of new Honda cars, SUVs, trucks, and vans delivered daily to its large storage facility adjacent to its dealership.

Cash For Clunkers Funding Extension to be Passed Today?

A number of sources are reporting that the long awaited $2 billion Cash For Clunkers extension bill, passed by the House last week, will be voted on today by the Senate. USA Today reports today that Majority Leader Harry Reid, D-Nev., said he has enough votes to pass the bill, following lengthy negotiations with lawmakers from both parties.

The Obama administration said Wednesday that about $775 million of the original $1 billion allocation to the Car Allowance Rebate System, or CARS, has been spent, and applications for 185,000 rebates have been processed. The $2 billion extension is thought to be adequate to fund the program through Labor Day.

Unlike many dealers who are reporting critical shortages in inventory as a result of the high demand generated by the Cash For Clunkers program, Bernardi Honda continues to receive daily truckloads of new vehicles to replenish its most popular Honda cars, trucks, Minvans, and SUVs.

Cash For Clunkers Funding Likely

The Associated Press reported on Tuesday, August 4, that Senate Majority Leader Harry Reid believes he has the votes to pass the $2 billion "cash for clunkers" measure already approved by the House. This bill will extend the Cash for Clunkers program whose original $1 billion is expected to be exhausted by Friday.

"We'll pass 'cash for clunkers' before we leave here," Reid said after Democrats lunched at the White House with Obama, who has vigorously pushed for the extension as a much-needed boost for the economy. Asked whether he had the votes to pass the measure, Reid replied, "Yes."

Due to the huge demand by consumers, Bernardi Honda has several trucks of new Honda cars, trucks, vans, and SUVs delivered each day. As might be expected, the Honda Honda Insight and Honda Hybrids are in heavy demand by Cash For Clunkers customers as are the Honda Fit, Civic, and Accord. Many customers are also trading in their fuel-thirsty big box SUVs for Honda's fuel efficient Pilot, CR-V, and Element SUVs. Minivan customers are also creating a demand for the Odyssey.

Cash For Clunkers August 3 Funding Status

On August 3, the Wallstreet Journal quoted Transportation Secretary Ray LaHood as predicting that the Obama administration "...could be forced to halt as early as Tuesday the "Cash for Clunkers" program because its 1 billion dollar budget would be depleted.

The Senate narrowly approved the initial Cash For Clunkers bill. Feinstein and Collins, who voted for the original bill, were on record as having said any extension to the Cash For Clunkers bill should push consumers to buy even more fuel-efficient vehicles and also to allow people to buy fuel-efficient used vehicles. Sen. On August 3, ABC News reported that with the recent "...blessing of senators Diane Feinstein, D-Calif., and Susan Collins, R-Maine, passing a clunkers refill by the end of the week suddenly seemed a lot more likely".

So by Friday we may have an extension of the Cash For Clunkers bill - with funding through the end of August. On the other hand, we may receive word as early as TODAY that the Cash For Clunkers program has been terminated.

Therefore, if you are thinking about taking advantage of the Cash For Clunkers program, Bernardi Honda suggests that you act today while funding is available as is a good selection of new Hondas at Bernardi Honda in Natick, MA.

Cash for Clunkers program is extended through the weekend

The Obama administration has officially said that any purchases made under the Cash for Clunkers program this weekend will be honored by the government. As recently as last night there were multiple reports that the program could be suspended today.

The attempts to extend the program are probably a wise move as an abrupt suspension would have greatly upset a good portion of the American public. Many people who want to take advantage of the program still have yet to bring in their clunkers.

Now that the program has been extended at least through the weekend expect consumer to rush in and make sure they take advantage of the bill. As I wrote earlier, I expect the program to get more funding and be extended even beyond the weekend for political reasons but many consumers will likely rush in to make a purchase this weekend and guarantee themselves the $3500 or $4500 credit.

House Approves Cash For Clunkers $2 billion extension

WASHINGTON (Reuters) - The U.S. House of Representatives approved on Friday a $2 billion extension of the "Cash-for-Clunkers" automobile sales incentive program.

The Democratic proposal would run through September 30, 2010, and tap funds from an Energy Department loan guarantee program included in the economic stimulus package enacted in February.

An initial $1 billion in funding approved this summer to boost stagnant industry sales has already been exhausted, officials said.

Consumers stormed dealers over the past month to take advantage of federally backed rebates of up to $4,500 on trade ins of gas guzzlers for more fuel efficient vehicles.

Unofficial government and industry estimates show that close to 250,000 vehicles were sold under the program.

The Senate is expected to act on the House bill.

Already a key senator, Energy Committee Chairman Jeff Bingaman, said he opposes using Energy Department funds for the auto program.

Another senator, auto industry ally Debbie Stabenow, said pushing the measure out of Congress would potentially take a lot of work compared to the extraordinarily swift action in the House.

The White House supports new funding for the program on grounds the initiative so far has provided a viable, national economic stimulus amid recession.

You can learn if your 'clunker' is eligible for a $3,500 or $4,500 instant rebate by using Bernardi Honda's easy to use "Cash For Clunkers" tool.

Bernardi Honda - Cash For Clunkers Tool Published

On July 21, Bernardi Honda published its "Cash For Clunkers Tool". Unique in the New England area, it removes the mystery and insulates you from the confusing complexity of the new Department of Transportation "CARS" program. The tool can be accessed using the hot link on the home page of the Bernardi Honda web site.

The CARS program (Car Allowance Rebate System), commonly referred to as "Cash For Clunkers", was authorized on June 24, 2009 by Congress to stimulate the sales of new cars, trucks, vans, and SUVs. The CARS program grants buyers of eligible new fuel-efficient vehicles a certificate worth $3,500 or $4,500 that reduces the price of a new vehicle when an eligible "clunker" is traded. The program is scheduled to end on November 1, 2009 or when the program's funding is depleted - whichever occurs first.

In five simple steps that take less than 3 minutes, you can print the Cash for Clunkers certificate for which you are eligible.

• Select your trade from the list of vehicles that were manufactured since 1984


• Select the new 2009 Honda or new 2010 Honda in which you are interested


• Enter information that personalizes your certificate and then press "PRINT" - your certificate is printed IMMEDIATELY - no waiting for someone to call or email you!

To use your certificate, drive your trade to Bernardi along with proof that it has been registered to you and insured continuously for the last 12 months. Bernardi Honda will deduct the certificate amount from the selling price of the new Honda in which you are interested - no waiting for the government to take action!

If you have questions on the new Cash For Clunkers program, please feel free to call our CARS program experts at 800-254-0013 for a no-obligation consultation.

Cars For Clunkers Tool

The Cash For Clunkers (aka Car Alowance Rebate System or CARS) program will be launced by the Federal Government on July 24. This innovative program makes 1 billion dollars available, in the form of $3,500 and $4,500 certificates, which are used to reduce the price of your new 2009 Honda or 2010 Honda vehicle.

The rules for determining eligibility for the government certificates are very complex and confusing.

To facilitate your participation in the Cash For Clunkers program, Bernardi Honda has developed a unique and easy to use Cash For Clunkers Tool that allows you to print your certificate in less than two minutes. You simply...

• Select your trade-in vehicle from a list of all vehicles manufactured since 1984


• Select your new Honda from a list of new Hondas that includes two important pieces of information:
  
  
  • the dollar amont of the certificate that you will receive
  
  
  • your 5-year savings in fuel cost compared to your current vehicle


• Enter your contact information for inclusion on your certificate


• Print your certificate and bring it to Bernardi Honda


• Bernardi will reduce the price of your new Honda by the amount of your certificate - no waiting for the government to take action!

On July 21 you will find a link to the "Bernardi Cash For Clunkers" tool on the BernardiHonda.com home page.

Some experts are suggesting that the 1 Billion dollars will run out well before the Nov 1 program expiration. Thus, Bernardi Honda urges you to act quickly if you are planning to take advantage of this short-term program.

s the 2nd largest Honda Dealer in New England, Bernardi Honda will have an extensice inventory of new 2009 and 2010 Honda Fits, Civics, Accords, Pilots, Elements, CRVs, Insights, Odysseys, and S2000s that qualify for the Cash For Clunkers program. We will also have a sales team who are trained on the Cash for Clunkers program and can assist you in understanding its complexities.

Obama signed Cash for Clunkers bill

President Barack Obama signed into law the Department of Transportation "Cash for Clunkers" bill on June 24. His signature kicks off a 30-day period in which the Transportation Department will prepare regulations for the program. The National Automobile Dealers Association is advising dealers to wait until the rules are out late next month before participating.

Bernardi Honda will participate in the program as soon as adequate information is available to ensure rebate commitments to customers can be guaranteed by Bernardi.

The timing of the program's implementation will ensure customers receive the best deal on a new Honda car, minivan, truck, or SUV since it will overlap with American Honda's Model Year End Clearance when maximum discounts are offered to customers.

Additional information on the Cash for Clunkers program can be found at http://fueleconomy.gov/feg/cars.shtml

Cash for Clunkers - Available July 1

Outlined below are the guidelines for the "Cash for Clunkers" program that will be launched on July 1, 2009. The program enables consumers to trade in older less efficient vehicles in exchange for a voucher that can be used towards the purchase of a new car or truck. Vouchers are worth either $3500 or $4500 depending on the fuel economy of the vehicle that is turned in and the new vehicle that is acquired. The program will be available for vehicles sold between July 1, 2009 and November 1, 2009.

The Department of Transportation (DOT) is setting up a website - http://www.cars.gov/ - dedicated to the program.

The program is outlined below along with commonly asked questions.

Check back on July 1 for information on the BernardiHonda.com "Cash for Clunkers Tool". It will enable you to select your trade from a list of older vehicles and then instantly identify which government credit you are eligible for based upon the new Honda that you are interested in buying.

GUIDELINES: Trade-In Qualification

• Gets no more than 18 miles per gallon (mpg)
• Was manufactured after 1984
• Is in drivable condition
• Was continuously insured to you for the last 12 months
• If a work truck, was manufactured before 2002
  

GUIDELINES: New Vehicle Qualification

Cars

• New previously unregistered car
• Maximum Value to Qualify $45,000
• Minimum MPG to qualify: 22
• $3,500 Voucher - New car that gets at least 4 mpg higher than your trade-in
• $4,500 Voucher - New car that gets at least 10 mpg higher than your trade-in.

Small Light-duty Pick-up trucks, MiniVans, SUVs (Category 1 Truck) ^****

• New previously unregistered light-duty truck
• Minimum MPG to qualify: 18
• $3,500 Voucher - New vehicle that gets at least 2 mpg higher^* than your trade-in.
• $4,500 Voucher - New vehicle that gets at least 5 mpg higher^* than your trade-in.

Large Light-duty Pick-up trucks and Vans (Category 2 Truck: 6,000 to 8,500 lbs)

• New previously unregistered pick-up truck or van
• Minimum MPG to qualify: 15
• $3,500 Voucher - New truck that gets at least 1 mpg higher^* than your trade-in.
• $4,500 Voucher - New truck that gets at least 2 mpg higher^* than your trade-in.

Work trucks (Category 3 Truck: 8,500 and 10,000 pounds)

• New previously unregistered work truck

$3,500 Voucher - any new work truck

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COMMON QUESTIONS

Can I receive a credit if I trade an SUV in for a more fuel efficient car?
Yes. You can trade an SUV in for a more fuel efficient car. The law does not specifiy that a car must be traded in for the purchase of a car or an SUV must be traded in for the purchase of an SUV. The law does, however, specify that the purchase of a class 2 truck such as the Ridgeline may have only a class 2 or class 3 truck as a trade-in.

Will I be eligible for the credit if I lease rather than purchase or finance my new
vehicle?
Yes. You are eligiable for the credit regardless of the method of payment used in purchasing your new vehicle.

Will I receive the fair market value of my car, as listed in KBB, Black Book, etc
in addition to the credit?
No. The law requires your trade-in vehicle to be destroyed. Therefore, the value you negotiate with the dealer for your trade-in vehicle isnot likely to exceed its scrap value. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle.

Does this program apply only to American Cars?
No. To be eligible for the credit, the trade may be imported or American and the new vehicle can be imported or american made.

I can't find the MPG rating for my work truck. What do I do?
Some trucks, such as work trucks, were never rated for fuel economy. For these trucks, age is the only criterion for determining whether they are eligible trade-in vehicles. If you have one of these trucks, it must be from model year 2001 or earlier, but also the date of manufacture must be less than 25 years from the date you trade it in, to be an eligible trade-in vehicle. Other restrictions may also apply.

I just traded my old car in June. Am I eligible for the credit?
No. The program starts on July 1. Prior purchases are not eligible.

Can I trade-in more than one "clunker" for a single new vehicle so I can get multiple
credits
No. You are eligible for no more than one credit for each new car purchase.

Can I buy a really cheap older car and use it as a trade to get a rebate?
No. The trade must be registered to and insured by the person trading the car for at least the last 12 months.

Can I turn in an old car and take the credit myself rather than buying a new car?
No. The credit must be applied as partial payment to the purchase of a new vehicle.

Is the credit considered income by the state or federal government?
No. The credit is not considered as income by the state or federal government. THus, it is not taxable and it can not be used to determine benefits or assistance.

How does the program work?

• Use the "Cash for Clunkers" tool on http://www.bernardihonda.com/ (available on of July 1) to determine if your trade qualifies for a credit. If you are not sure, please call Bernardi Honda at 800-254-0013 and ask for a "Cash for Clunkers" program specialist.
• When you visit Bernardi to make your purchase, drive your trade (it must be operable) and bring the title, registration and
  insurance papers showing continuous registration and insurance coverage of your trade for the past full year.
• Bernardi will reduce the selling or lease price of the new Honda vehicle by the amount of the credit for which you are eligible. You don't have to wait for the government to take action!
• Bernardi Honda will handle the submission of all required paperwork to NHTSA
• NHTSA will audit the paperwork to verify that your sales transaction meets the requirements for a credit
• About 10 days after paperwork submission, the NHTSA will issue a financial credit to Bernardi — assuming all program requirements have been met.

Dollars For Clunkers Goes to Senate

On June 9th, the House approved their HR-2751 Cash for Clunkers bill that aims to boost new auto sales by encouraging consumers to trade in their gas-guzzling cars and trucks for vouchers worth up to $4,500. The vouchers can be used to buy or lease a new more fuel-efficient vehicle.

Meanwhile, an almost identical bill seems to have S-1200 Cash for Clunkers has stalled in the Senate. To help break the stalemate, a coalition of senators led by Dianne Feinstein (D-Calif.), who sponsored the original and much tougher Senate version of the Cash for Clunkers bill, introduced an alternative measure that would require greater fuel efficiency than the House bill.

To qualify for a voucher under the alternative Senate plan, consumers would have to trade in a car rated at 17 mpg or less and purchase a new car that gets at least 24 mpg. Consumers could receive a $2,500 voucher for a new car that gets at least 7 mpg more than their old car, $3,500 for a new car with a 10 mpg gain in fuel efficiency, and $4,500 for one with an increase of 13 mpg or more.

Source: About.com

Cash for Clunkers - Passed By House

Yesterday the House passed a $4 billion bill to motivate consumers to purchase new vehicles by subsidizng their purchase. The "Cash for Clunkers" bill (H.R. 2751) would give vouchers to consumers worth up to $4,500 when they trade in a "gas guzzler" and buy a new car that is more fuel efficient. The legislation now goes to the Senate. President Obama has said he supports such a measure.

The House version of the bill applies to vehicles that average less than 18 mpg combined city and highway driving. $3,500 could be applied to a new light truck or van that was more fuel efficient than the old one by at least 4 mpg or $4,500 if the new vehicle is 10 mpg more efficient.

Vehicles that have not been insured for the past year or that are older than 25 years are not eligible to be traded in for vouchers.

The bill would require dealers to accept the trade-in automobiles on behalf of the U.S. government and arrange for the transfer of any trade-ins to an entity that will dispose of the car by crushing or shredding it. The trade-in may not be, sold, leased, exchanged, or otherwise disposed. The entity responsible for crushing the automobile may sell parts from the car other than the engine block and drive train

You can determine the MPG rating of your vehicle as well as that of a vehicle of interest by visiting http://www.fueleconomy.gov/feg/findacar.htm

As soon as the bill is enacted Bernardi Honda will provide details on the size voucher that your vehicle will be eligable for when trading for the new Honda vehicle of interest to you.

House OKs $4 Billion Cash for Clunkers (CNNMoney)

Congress Considering Cash for Clunkers Bill

Congress appears to be close to agreement on a long debated Cash For Clunkers bill that includes a provision for reimbursing owners of 'klunkers' or 'guzzlers' for trading them in for more fuel efficient vehicles.

The traded vehicle must be:
+ driveable,
+ registered in the US,
+ have a fuel economy rating of less than 18 miles per gallon at the time of their purchase.

The purchased vehicle must:
+ get at least 22 mpg for cars and 18 mpg for small trucks,
+ be at least 25 percent more fuel efficient than the traded vehicle,
+ be a model year 2004 or later,
+ have an MSRP of less than $45,000.

The reimbursement vouchers would be for:
+ $3,500 if the mileage improvement is at least
-- 4 m.p.g. for a car
-- 2 mpg for a small truck.
+ $4,500 if the mileage improvement is at least
-- 10 m.p.g. for a car
-- 5 mpg for a small truck