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Car Dealers Hope for New Credit

By Stu Johnson

Richmond, KY – Car dealers across Kentucky are looking to Frankfort for a little help in moving vehicles off their lots. In 2011, Lee Searcy with the Kentucky Automobile Dealers Association wants another new car trade-in tax credit' program. A similar program ended in August and Searcy says it was very successful.

"For a period of time you were able to get trade in credit on that vehicle. So you could deduct the eight or ten or what ever the value of that used car that he was trading in for tax purposes off the value of the new car and that really saved people some money."

Searcy says the 25 million dollar program increased car sales and pumped more money into Kentucky's road fund. During this winter's session of the Kentucky General Assembly, the association hopes to convince state lawmakers they should renew the program.