The "Cash for Clunkers" Program was initiated by President Obama to spur the sale of new vehicles in the US. The program offers a $3500-$4500 rebate to consumers who own older, lower fuel economy vehicles. In order to qualify, you MUST purchase or Lease a brand new fuel efficient vehicle. There is a very large selection of qualifying vehicles.
This program does NOT mean that you have to buy a hybrid or electric car. It was designed to get older gas hogs off the road.
If you are confused about this program, here are some important items to review:
1.) Your trade in vehicle must be a 1984 or newer
2.) Your trade in vehicle must get 18mpg or less (exceptions for trucks and vans)
3.) You trade in vehicle must have been registered in your name and insured for the past year
4.) Program expires Nov. 1st or when the funds have been exhausted
Use the articles on this page as a guide to help you get started. If you qualify for this program, there may never be a better time to buy a new car.
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