They stop clunking
If you were planning on trading in the ol’ jalopy under that new Federal scheme, do not expect a whole lot of cash beyond the specified credit:
The CARS Act specifies that while many parts of the trade-in vehicle are permitted to be removed and sold, in the end the residual vehicle, including the engine block, must be crushed or shredded. Therefore, the trade-in value of the vehicle is not likely to exceed its scrap value. Purchasers should not expect to receive the same trade-in value as they might if the vehicle were to remain on the road.
[CARS Act rules in PDF format.]
What happens to the engine block, incidentally, is rather graphic: it involves the replacement of lubricant with what is essentially anti-lubricant.
(One commenter notes: “The price of junk yard Ford 5.0L V8s and GM 3800 V6s just went through the sun roof.”)
Donna B. »
25 July 2009 · 12:03 am
We’ve got a 1991 F-150 sitting in the backyard precisely because the engine is worth something. If the transmission weren’t junk, we’d still be driving it.
McGehee »
25 July 2009 · 9:18 am
Yeah, even the huge 5.8L V8 in my truck is probably going up in value right now, just from anticipated scarcity.
<evil, maniacal cackle>
Scott »
25 July 2009 · 11:34 am
We must stop this evil for the sake of the (grease monkey gearhead) children.
Meantime, I’m gonna start buying Chevy big blocks.