Labadie Auto Company is a full service group of new and used vehicle dealerships located in Bay City, MI. Currently Labadie Auto Company has the following franchises: Buick, Cadillac, GMC, Scion and Toyota.
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The program that is commonly refered to as Cash For Clunkers or more appropriately the 'Consumer Assistance to Recycle and Save Act of 2009' was signed by President Obama yesterday. How does this effect car buyers and what effect will it have on dealeships that participate. The bill has been proposed for several months now and because it is signed there is a scramble to figure out what the deal is and how it is going to work.
Here are a few facts:
The "Car Allowance Rebate System" administered by the National Highway Traffic Safety Administration would issue credits of $3,500 or $4,500 to buyers of fuel-efficient cars who turn in older, gas-guzzling vehicles to be scrapped.
The program is still being worked out. The time line puts the program in effect sometime in the middle of July. Don't believe the hype until all the details are released!
Keep looking back for more details as we work to figure out the legislation.
Want a real example of how this program may work? Click HereAnother example using a new GMC Acadia - click here!
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