He Cash For Clunkers Program allows car owners to receive up to $4500 for the trade-in of an old car. The program is designed to stimulate the economy and put more fuel efficient cars on the road. You can visit www.fueleconomy.gov to find out more about your cars fuel economy.
Image by hellochris via Flickr
The Cash For Clunkers program whose official name is the Car Allowance Rebate System (CARS), was started in July 2009. The key totaking advantage of this program is to compare the fuel economy of your trade-in to the fuel economy of the new car you want to buy. Cash For Clunkers is Part of President Barack Obama’s economic stimulus plan.
Eligibility Requirements for the Cash For Clunkers Program
Your trade (clunker) vehicle must be less than 25 years old at the time of trade-in.
You may only buy or lease a new car. Used cars do not qualify under the Cash For Clunkers program.
Clunker vehicles must be registered and insured continuously for at least one full year prior to the trade-in.
Trade-in vehicles must get 18 or less miles per gallon
Beware of scam sites pretending to be official “Cash For Clunkers” websites.
How do I Participate in the Cash For Clunkers Program?
Visit Fueleconomy.gov to determine the fuel economy or miles per gallon (MPG) of your current vehicle. Check the fuel economy ratings of vehicles you would like to purchase. Get a new car dealer quote for your new car. Secure financing for your new car. Bring your old “clunker” vehicle to the dealer for a trade-in.
Wed, Aug 19, 2009, by eqmico
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