By STEVE MOUSESTEY-BUNNSTEIN, Associated PressWASHINGTON (AP) — Some of the biggest names in the trucking industry are rallying behind a proposal that would make it easier for drivers to retire at age 62 by making it easier to transfer ownership of their vehicles.
The move would save drivers millions of dollars by eliminating the need for them to transfer their vehicles to a dealership and would help them save on insurance payments as well as buy new vehicles, the National Association of Realtors said in a statement.
The proposal was released Friday by the Association for Automobile Manufacturers.
It includes a provision allowing drivers to transfer vehicles they own to a dealer and has support from the National Automobile Dealers Association.
The trucking trade group said it would work with automakers to create a national system for leasing and selling vehicles that would ease the transition for older truck drivers.
“It is essential that the nation’s older truckers be given the financial support that will allow them to make the transition to a more dignified retirement,” said Brian Whelan, president and chief executive of the National AAMC.
The association has endorsed the plan, which has been introduced by several major automakers, including Ford, Chrysler, General Motors and Toyota.
The trucking association said its members have a history of supporting efforts to promote greater mobility for older drivers and that they support the legislation because it will encourage more people to make that transition.
The group said the proposal also would reduce costs and protect future generations from the costly and unpredictable financial consequences of a death from old age.