Reporter Dave Young checks out a 'clunker' at a local car dealership. (July 23, 2009)
DENVER -
Are you ready to get rid of that old clunker and listen to the roar of a new engine? Now may be the time.
The "Cash for Clunkers" program makes it possible to trade in your gas-guzzler for a more fuel-efficient car and get a government subsidy.
The sale is already under way at Grand Pontiac GMC Kia at 2000 West 104th in Northglenn, and several others around the metro area, even though the official start is Friday. They say a steady stream of shoppers are showing up for the promise of government cash.
But that $1 billion dollars could be gone fast.
There are the early gas-guzzling clunkers in a lot out back, all traded in to be destroyed rather than resold. Each brings in $3500 to $4500 in government credit toward a brand new car.
"Well I think I'm going to save the 45-hundred," Mike Johnson said, sitting in his new Kia Sportage. "And then the gentleman I was just talking to says they basically double it, or something like thatÂ…so I'm talking nine thousand dollars on 21 thousand dollar vehicle." "Is that a great deal? It's awesome."
Longtime dealer Mike Malin says the qualifying formula takes less than five minutes.
"We can check your car," said Malin, "And find out okay you got less than 18 miles combined gas mileage when this car was brand new, that qualifies."
Based on customer interest so far, dealers expect the government's incentive program will be out of money by Labor Day instead of the November 1st deadline.
"We think there's going to be a big surge of sales," said Malin, "That people are going to take advantage of this and we think it's going to be front loaded we think they're going to do it right now."
To compete for the government credit, most manufacturers are offering their own matching incentives, which can mean savings of about half price in some cases.
"You're going to buy this car for under $6,000," Malin said, pointing to a Pontiac G3.
If you improve your clunker's mileage at least four miles a gallon but less than 10, you qualify for 35-hundred bucks. Over ten miles a gallon improvement: $4500.
"He said it would be about $9,000 and that would be wonderful to put down on a brand new car," said Elsie Nettleton sitting in her old Chevy Blazer. Her old car, she says, is falling apart.
This program is supposed to improve air quality and dependency on foreign oil by getting gas guzzlers off the road. It will mean sale of about 260,000 new cars.
But environmental groups say it falls far short of truly cleaning up the air.
The "Cash for Clunkers" program makes it possible to trade in your gas-guzzler for a more fuel-efficient car and get a government subsidy.
The sale is already under way at Grand Pontiac GMC Kia at 2000 West 104th in Northglenn, and several others around the metro area, even though the official start is Friday. They say a steady stream of shoppers are showing up for the promise of government cash.
But that $1 billion dollars could be gone fast.
There are the early gas-guzzling clunkers in a lot out back, all traded in to be destroyed rather than resold. Each brings in $3500 to $4500 in government credit toward a brand new car.
"Well I think I'm going to save the 45-hundred," Mike Johnson said, sitting in his new Kia Sportage. "And then the gentleman I was just talking to says they basically double it, or something like thatÂ…so I'm talking nine thousand dollars on 21 thousand dollar vehicle." "Is that a great deal? It's awesome."
Longtime dealer Mike Malin says the qualifying formula takes less than five minutes.
"We can check your car," said Malin, "And find out okay you got less than 18 miles combined gas mileage when this car was brand new, that qualifies."
Based on customer interest so far, dealers expect the government's incentive program will be out of money by Labor Day instead of the November 1st deadline.
"We think there's going to be a big surge of sales," said Malin, "That people are going to take advantage of this and we think it's going to be front loaded we think they're going to do it right now."
To compete for the government credit, most manufacturers are offering their own matching incentives, which can mean savings of about half price in some cases.
"You're going to buy this car for under $6,000," Malin said, pointing to a Pontiac G3.
If you improve your clunker's mileage at least four miles a gallon but less than 10, you qualify for 35-hundred bucks. Over ten miles a gallon improvement: $4500.
"He said it would be about $9,000 and that would be wonderful to put down on a brand new car," said Elsie Nettleton sitting in her old Chevy Blazer. Her old car, she says, is falling apart.
This program is supposed to improve air quality and dependency on foreign oil by getting gas guzzlers off the road. It will mean sale of about 260,000 new cars.
But environmental groups say it falls far short of truly cleaning up the air.
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