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Old 01-14-2009, 12:40 PM   #1
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Exclamation Proposed Bill to give New car buyers tax break

Hi all,

Anyone just watch Fox News on the Proposed bill for a $7500 tax break on all new cars (not just American), 9 month life bill. The first 90 days.. $7500 tax deduction on purchase price and sales tax and interest on loan (did not catch that part too well) ..the Lenders get some break too.

The next 90 days after the first, the tax deduction drops to $5000 and the last 3 months drops to $2500.

This sounds incredible! If they pass this, hell... I MIGHT think about a SS or at least supe up my 2LT/RS..
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The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said.

Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.

Order# NDTMVP Ordered 10/23/08.
2000 on 5/21/09... It begins.....
4B00 on 6/26/09... In transit to the Cave
5000 on 7/6/09 it waits for my arrival!
1000000 on 7/10/09 The Tumbler is in the Cave!
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Old 01-14-2009, 12:47 PM   #2
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This would be great if the Camaro was arriving within the 90 days however if it does come in in time for a $5,000 tax break, that would help out a lot..
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Old 01-14-2009, 12:49 PM   #3
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Originally Posted by Supermans View Post
This would be great if the Camaro was arriving within the 90 days however if it does come in in time for a $5,000 tax break, that would help out a lot..

I agree and being that it's being proposed, it could take a couple of months so we could hit that $7500 range but I sure as hell would love the $5000 or $2500 break. It sucks for those waiting till next year though as this bill is only for 9 months if passed.
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The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said.

Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.

Order# NDTMVP Ordered 10/23/08.
2000 on 5/21/09... It begins.....
4B00 on 6/26/09... In transit to the Cave
5000 on 7/6/09 it waits for my arrival!
1000000 on 7/10/09 The Tumbler is in the Cave!
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Old 01-14-2009, 12:54 PM   #4
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Originally Posted by GothamCamaro View Post
I agree and being that it's being proposed, it could take a couple of months so we could hit that $7500 range but I sure as hell would love the $5000 or $2500 break. It sucks for those waiting till next year though as this bill is only for 9 months if passed.
Agreed. It makes all of us who pre-ordered that much better off in the end. We get the car of our dreams, and with a hefty discount to boot... I wonder if the $7500 applies to only taxes or loan interest or both? Either way it is a great way to help boost the economy..
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Old 01-14-2009, 12:54 PM   #5
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It sucks for those waiting till next year though as this bill is only for 9 months if passed.
That would be me :(. If I knew I could get the break I'd order now if I didn't have a wedding to pay for this year. Why couldn't I meet the girl of my dreams AFTER I took delivery of my Camaro .
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Old 01-14-2009, 12:55 PM   #6
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That would be me :(. If I knew I could get the break I'd order now if I didn't have a wedding to pay for this year. Why couldn't I meet the girl of my dreams AFTER I took delivery of my Camaro .
You still can order now with a refundable deposit..There are dealers that still have openings available.
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Old 01-14-2009, 12:59 PM   #7
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That would be me :(. If I knew I could get the break I'd order now if I didn't have a wedding to pay for this year. Why couldn't I meet the girl of my dreams AFTER I took delivery of my Camaro .
Don't jinx me! Congrats, you still win with the girl of your dreams.
I'll have to use the Camaro to prowl for my girl of my dreams, that's harder!
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The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said.

Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.

Order# NDTMVP Ordered 10/23/08.
2000 on 5/21/09... It begins.....
4B00 on 6/26/09... In transit to the Cave
5000 on 7/6/09 it waits for my arrival!
1000000 on 7/10/09 The Tumbler is in the Cave!
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Old 01-14-2009, 01:14 PM   #8
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They're proposing giving thousands to people to go spend on any car??

Were I a senator/etc, I'd demand that that money be spent on an American car, no discussion. Otherwise this is another example of how we like to throw our money out of the country, because 48% of buyers still go foriegn!!!....ugh!!! Who are the fools who drafted this up? Corker and Shelby?!?!?!
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Old 01-14-2009, 01:21 PM   #9
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Quote:
Originally Posted by Dragoneye View Post
They're proposing giving thousands to people to go spend on any car??

Were I a senator/etc, I'd demand that that money be spent on an American car, no discussion. Otherwise this is another example of how we like to throw our money out of the country, because 48% of buyers still go foriegn!!!....ugh!!! Who are the fools who drafted this up? Corker and Shelby?!?!?!
Or at least divide it 3 ways. Cars produced by the big 3 and built in North America should get the most, those that are produced by others and imported should get nothing. The rest that are either 'captive imports' or 'transplants' should get 1/2 the deal.
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Old 01-14-2009, 01:26 PM   #10
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Quote:
Originally Posted by Dragoneye View Post
They're proposing giving thousands to people to go spend on any car??

Were I a senator/etc, I'd demand that that money be spent on an American car, no discussion. Otherwise this is another example of how we like to throw our money out of the country, because 48% of buyers still go foriegn!!!....ugh!!! Who are the fools who drafted this up? Corker and Shelby?!?!?!
Myself and the reporter were thinking it was a break for American cars too then she asked the Senator (I believe from Alabama) if this was just for American cars and he said no, Foreign as well.

Let's hope the bill is changed to only give the break on American cars, I agree.. let's help us first.
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The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said.

Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.

Order# NDTMVP Ordered 10/23/08.
2000 on 5/21/09... It begins.....
4B00 on 6/26/09... In transit to the Cave
5000 on 7/6/09 it waits for my arrival!
1000000 on 7/10/09 The Tumbler is in the Cave!
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Old 01-14-2009, 01:34 PM   #11
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It won't get changed for American cars only. Foreign auto makers have their hands in too many pockets of our "elected officials" for that to happen.
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Old 01-14-2009, 02:09 PM   #12
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any link to this bill? or news>?
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Old 01-14-2009, 02:12 PM   #13
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Especially in the southern part of America.

I will be happy to get a break on my taxes.
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Old 01-14-2009, 02:25 PM   #14
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Quote:
Originally Posted by DGthe3 View Post
Or at least divide it 3 ways. Cars produced by the big 3 and built in North America should get the most, those that are produced by others and imported should get nothing. The rest that are either 'captive imports' or 'transplants' should get 1/2 the deal.
I like this plan. After my little rant......I thought a bit more, and I can accept this as fair. But just a blanket "go buy a car, we don't care from who" pisses me off to no end.
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Old 01-14-2009, 02:35 PM   #15
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any link to this bill? or news>?
Sorry I was watching Fox News when they were interviewing the Senator, no link, maybe go to their site, I'm sure they post news stories from what airs.

*edit* http://www.wkrg.com/consumer/article..._buyers/22607/

No time to dig through Fox News articles to find it so I Googled the proposed bill and found this, same thing.
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The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said.

Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.

Order# NDTMVP Ordered 10/23/08.
2000 on 5/21/09... It begins.....
4B00 on 6/26/09... In transit to the Cave
5000 on 7/6/09 it waits for my arrival!
1000000 on 7/10/09 The Tumbler is in the Cave!

Last edited by GothamCamaro; 01-14-2009 at 02:45 PM. Reason: found a link for Kevin, the ex-challenger guy
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Old 01-14-2009, 02:54 PM   #16
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Quote:
Originally Posted by Dragoneye View Post
I like this plan. After my little rant......I thought a bit more, and I can accept this as fair. But just a blanket "go buy a car, we don't care from who" pisses me off to no end.
I've thought this one over before. And near as I can figure, if there are any sort of tax breaks this is the most fair way to do it. The Ford Fusion would get a full tax break and G8 would be treated the same as the Honda Civic while the Toyota Prius gets nothing.
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Old 01-14-2009, 02:59 PM   #17
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Please pass in May!!!
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Old 01-14-2009, 03:33 PM   #18
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Please pass in May!!!
+1
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The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said.

Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.

Order# NDTMVP Ordered 10/23/08.
2000 on 5/21/09... It begins.....
4B00 on 6/26/09... In transit to the Cave
5000 on 7/6/09 it waits for my arrival!
1000000 on 7/10/09 The Tumbler is in the Cave!
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Old 01-14-2009, 03:36 PM   #19
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when will this get voted on?
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Old 01-14-2009, 03:44 PM   #20
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when will this get voted on?
No idea, it just made the news today.
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The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said.

Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.

Order# NDTMVP Ordered 10/23/08.
2000 on 5/21/09... It begins.....
4B00 on 6/26/09... In transit to the Cave
5000 on 7/6/09 it waits for my arrival!
1000000 on 7/10/09 The Tumbler is in the Cave!
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Old 01-14-2009, 03:56 PM   #21
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Wow this would be amazing!! Any discount is good news, hopefully this goes through with modifications, as in it only applies to domestic cars. That is just ridiculous giving tax breaks to foreign companies even if they have factories in the US.
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Old 01-14-2009, 04:21 PM   #22
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if everybody gets a tax break, wouldn't the resale value of the car drop like a rock?
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Old 01-14-2009, 04:33 PM   #23
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if everybody gets a tax break, wouldn't the resale value of the car drop like a rock?
NO

It:s just a deduction on your 2009 tax return which is why it*s limited to nine months.

The money you*ll actually get it the federal taxes you would have paid on the deductible amount.

This may not even help the folks that don*t itemize>
Even if it does, it will not help them nearly as much as those filers that alreay itemize their tax returns>

either way, I:m excited because it means paying around 1500 less in taxes next year for me!!!
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Old 01-15-2009, 12:50 PM   #24
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The Consumer Auto Relief Act as it's being called would also, as though in addition to the $7500, etc.:
"make tax deductible the state and local taxes paid on the new car purchase and the interest on the loan. The federal tax breaks would apply to all new car purchases, regardless of personal income levels or whether the buyer itemizes deductions on federal taxes."

There are other proposals in the works:
"U.S. Sen. Barbara Mikulski, D-Md., has a proposal to make interest payments on car loans and state sales taxes deductible for car purchases, but only to people below certain income levels, and a spokeswoman said she plans to reintroduce it within two weeks. A similar House version was introduced last week by Rep. Bill Pascrell Jr., D-N.J."

Things are looking up for us car buyers!
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Old 01-15-2009, 01:03 PM   #25
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