Your Mercedes dealers want to discuss some legislation that is being proposed in the Senate right now. Earlier this month, a bill was introduced that would offer low-income families a $10,000 incentive if they trade in their old, gas-guzzling cars for newer, more efficient vehicles. Here are some details of that bill:
• Eligible consumers would have to make less than $25,000 per year. Eligible households need to make less than $40,000 to qualify for the incentive.
• Eligible automobiles for purchase following a trade-in would have to be manufactured by a company with a facility in the United States. The new vehicles would also be required to have a fuel economy that “is not less than 25 miles per gallon, as determined by the Administrator of the Environmental Protection Agency…”
• The new vehicle must also have a fuel economy that is at least “4.9 miles per gallon greater than” the trade-in vehicle.
• The trade-in vehicle must be operable and registered under the eligible individual before December 1, 2008.
These are just a few details of the proposed bill. You can read the entire bill here. Your Cherry Hill, NJ area Mercedes-Benz dealer can also help you make sense of the new legislation if it passes. If it goes through, it will be a great way to start phasing out the older vehicles so we can put more efficient ones on the road. We’ll see what happens with this and keep you updated.
