Just do the math. Assume an average rebate of $4K. One billion divided by $4,000 is 250,000 trade-in's. Do they mean that in a week or two of the programs existence there were 250,000 trade-in's?
Our local news proudly reported that the feds paid owners $98 million getting old cars off the road.
They budgeted $1 billion.
I can do math as well as the next guy, where is the other $902 million dollars?
Exactly. Do the Math, something is rotten in Denmark (no big surprise with Zero/gov involved).
I traded my dodge ram V8 conversion van on July 2nd. Some dealerships started early. I bought a Toyota RAV. Got 4500 on the van. I’m sure the foreign cars will do better cause they get the most mpg. I would have kept the van but the AC had been broke for several years. It’s in a graveyard in Ohio....RIP my old ‘Beast’
I heard there are about 20,000 dealerships offering this program, so after selling 12.5 cars each, they have reached their limit. I think some dealers are going to eat some big losses.
Rep. Pete Hoekstra wrote on his facebook a few hours ago that he got word that the program indeed sold over 200,000 cars in under a week.