Cashing-In With Cash For Clunkers

Tools

By Jeff Muniz

It appears that clunkers may just be giving the ailing auto industry the gas it needs to get going again. Local dealers report the government's cash for clunkers program is driving in customers.

A rusted out 1986 Ford F-150 Truck is likely not worth more than 50-bucks. But, because of its poor gas mileage it got a couple thousand dollars from Uncle Sam thanks to the cash for clunkers program when it was traded in at the Mike Miller Auto Park.

"It's been overwhelming now. We're overrun. We can't realistically handle the traffic. We go home exhausted every night because the volume is so large," Miller says.

Mike Miller calls it the best incentive he's seen with 80 customers coming to his lot on Saturday. Typically, he has around 30. One of those interested customers with a clunker is Jim Manns from Germantown Hills.

"My truck is an '88 Ford F-150. It's got 90,000 miles on it and it's not worth the $4500," Manns says.

With the CARS government program, owners of gas guzzlers can get up to 4500 dollars off the purchase price. For most vehicles to qualify, they must get 18 miles to the gallon or less and be replaced by a more fuel-efficient vehicle.

"It's an unbelievable deal when you couple it with the manufacturer's rebates and incentives, it's $7500 to $8000 off a brand new car," Miller says.

For many local clunkers, Neal Auto Parts on Farmington Road in Peoria will be their final resting place. About 35 to 40 area dealers have already contacted Neal's to take their clunkers.

The recycle business with customers buying used parts has been a big success during these bad economic times. But, recyclers won't be able to sell the engines from these clunkers.

"For us to lose engines, which is actually our biggest seller is a big deal. But, we are able to keep the transmissions now and all the rest of the body of the vehicles for parts also. So, it's still a good deal for us," Co-Owner Kelly Neal says.

In about a week, the government has already spent 150-million of the billion dollars to get these old gas guzzlers off the road.

Thursday, Jul 30 at 8:12 PM HEHEHEHE wrote ...

NOT ANYMORE HAHAHAHA TO FUNNY

Thursday, Jul 30 at 4:49 PM anonymous wrote ...

what is taking the government so long to approve the credit to the dealerships for these clunkers? we bought our car friday and still can't get it because for the government taking their sweet time!

Thursday, Jul 30 at 12:02 PM Anonymous wrote ...

Many people still can not afford a new car even with the clunker bill and the rebates.I have a 10 year old car that gets good gas mileage but is on its last leg.This rebate helps me none.They should have made this clunker good for only American made autos...

Thursday, Jul 30 at 10:30 AM Aaron wrote ...

I find it quite irritating that the government is denying the resale of the engines. There are many automotive enthusiasts that use these "clunker" motors for rebuilds, race cars, boats, etc. If everybody starts cashing in their good running cars for the credit, the supply of good useable engines is going to fall through the floor.

Thursday, Jul 30 at 9:06 AM Anonymous wrote ...

do the cars go to Neals for free? It seems like Neals would be getting rich off of our tax dollars. It is a good thing that the cars are getting parted our, But If you seen the High price on Neals used parts you would ask the same thing. I Am not trying to bash Neals, Just I think it is not wright that they should get 100% profit off the cars with out some kind of return to the community.

Add a comment

Name:

Comment: 1000 Characters Left

WEEK News 25 - and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

More Good Stuff

Advertisement
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

Stock Quotes

What's On TonightFull Schedule

Local Business Dir