Government Incentive Program Starts to Trade in your Clunker For New Car!

July 25, 2009

(ChattahBox) — Got an old clunker automobile, particularly a gas guzzler in the garage?  It could be worth $3,500 dollars or more under a new government incentive program. The Car Allowance Rebate System program was signed into law in June, but details weren’t finalized until Thursday. Dealers were allowed to register with the National Highway Traffic Safety Administration to participate

To qualify for a voucher, buyers must trade in a in drivable vehicle manufactured in 1984 or later, rated at no more than 18 miles per gallon combined city and highway mpg as rated by the Environmental Protection Agency when new, and buy or lease a new car that gets at least 22 mpg.   All imports and domestics with a list price under $45,000 are eligible, as long as they meet fuel economy standards of at least 22 mpg for cars; 18 mpg for SUVs, small pickups and minivans; and 15 mpg for large vans and trucks.

A new car with a 4-mpg improvement in fuel economy qualifies for a $3,500 voucher. Cars capable of 10-mpg improvement qualify for $4,500. The eligibility requirements are different for trucks.

You can’t just buy an old clunker from a neighbor or junk yard though to get in on the deal. Owners need to prove their trade-ins have been registered and insured throughout the past 12 months.  There is a limit of one trade-in per owner under the program, with the credit applying to the lease or purchase of a single new vehicle.  The program will last ntil Nov. 1 or until the $1 billion is spent, whichever comes first. To get older, less-fuel-efficient vehicles off the road the program requires trade-ins to be junked, and the rules include elaborate procedures that dealers must follow to permanently disable the engines of clunker trade-ins so they can’t be resold.

The government estimates the $1 billion program will generate sales of 250,000 vehicles at the nation’s 19,700 new-car dealers. If the anticipated sales were spread evenly among all the dealerships, it would amount to about 12 cars per dealer.  The official government website for the programs is www.cars.gov. The government has also set up a hotline at (866) 227-7891.

Source


Comments

6 Responses to “Government Incentive Program Starts to Trade in your Clunker For New Car!”

  1. Government Incentive Program Starts to Trade in your Clunker For New … - Chattahbox.com — Buy Here Pay Car Dealerships on July 25th, 2009 9:19 am

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  2. Valuable Internet Information » Government Incentive Program Starts to Trade in your Clunker For New Car! on July 25th, 2009 10:30 am

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  3. Carz on July 25th, 2009 3:55 pm

    Great incentive for those people who can’t help themselves but feel guilty of the gas-guzzling auto machines they have.

  4. jason Elliot Davis on July 27th, 2009 11:11 am

    I just would like to trade in my old truck. For a better car

  5. Government ‘Cash for Clunkers’ Program Too Successful - Going Broke | ChattahBox News Blog on July 31st, 2009 7:05 am

    […] their options to keep the program funded, according to the AP. The program officially dubbed the ‘Car Allowance Rebate System‘ was signed into law in June, and started July 25th and was supposed to run until Nov. 1 or […]

  6. tony on August 2nd, 2009 4:47 pm

    The should of thought about this before they bailed out the companies!!!
    They should give families $10,000 for each licensed driver in the family that way the American public could get what they deserve…A BREAK!!
    These dealers are rip offs anyway. They drove the buyers out into the street with underhandness and low ball trade in values on their cars. They then resold them at much much higher prices.
    How does the American public feel about being offered 1/2 the value for there homes, they didnt buy into these unscruplious dealers business practices.
    Now try and find a list of Dealers participating in this Cash for Clunkers?????
    There isn’t one.
    And in your neighborhood there is an alliance of dealers. they determine if they will participate but first they will evaluate how they could screw you and get more from the government.

    Like place ads we will give you 2,000 if you could push or shove your car into the dealers lot. Well, they only want a clunker so they could pick up the extra 2500 bucks. Also, dealers are being selective in participating and spinning the consumer.

    The parent company needs to police the dealerships alot more closely. The dealers are destroying the car manufacturers with there underhanded business practices and the target is the consumer. Put down that cup of coffee and water bottle and come into a dealership as an anonymous consumer. They will be shocked at how they are trying to sell cars!!
    Well,at least some dealers like toyota and honda are particapating. What about the others??? How patriotic are they anyway…..HHHhmmmmm

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