Anybody Take Advantage of the Cash For Clunkers Rebate?

CARZ wrote:

Everyone is talking about Cash for Clunkers. I was interested to see if anyone had taken advantage of it on here...

0/10

For What Its Worth wrote:

True, it's not green, but it is turning out to be hugely successful and is in fact creating jobs and boosting the economy at a time when we need it. Going to higher mileage vehicles earlier, certainly is an admirable goal, but I doubt it is even green neutral. I suspect that those who are ridiculing this program are the same wingnuts who want the country to fail under Obama. Sorry, you wingnuts, the economy is already beginning to turn and this program is one of many reasons why it is happening sooner than expected. The party of NO and the wingnuts need something else to pound on...try dirt.

And it looks like 3 weeks later the program has FAILED. Nice. Participating dealerships are not getting their money from the government. Your turn to pound something...

plabo wrote:

Yep.

Worked good, got some of my hard earned tax money back in my pocket. Now the rest of it went to folks who didn't pay taxes.

If you don't plan ahead you'll get a nasty surprise at tax time. You'll owe tax and interest from 1/1/2010 to the day they get your check. Maybe even penalties.

Advise you to submit new W4 to take care of the taxes due on the clunker windfall. There are 4 months to go and your additional tax liability will be $1000 to $1500 so plan on having 250 to 500 less monthly for the next 3 or 4 months.

Cheers.......

Bump.