Clunkers For Cash Program

By Skip Butner

Cash for clunkers program was started to help out citizens with older more toxic fuel burning vehicles. Trading in these older vehicles for newer vehicles can help the environment because the newer vehicles emit less emissions harmful to the environment.

There are some requirements to receive the maximum of $4500 rebate to help offset the price of the new vehicle. This is a good idea because it not only helps the consumer but also hopes to stimulate sales within the auto industry.

Let me list some of the requirements that you'll need to follow to take advantage of this program. Your vehicle must be less than 25 years old at the time of the trade. The rebate program only applies to new vehicle quality. Your trade-in vehicle needs it get less than 18 miles per gallon. Some pickup trucks may have other requirements so be aware that these exist.

The 18 miles per gallon rule is to help to save the environment from gas guzzling emission hog vehicles. Your trade-in vehicle will have to have been registered and insured for the previous year. Instead of using a voucher your dealer will take care of the paperwork for you. The program runs through November 1, 2009 or when the program's funds are exhausted

However, dealers have been complaining that the government is slow getting back to them which ends up holding up your new car purchase. In order to be eligible for this program your trade-in vehicle needs to be scrapped but your dealer will take care of this. Note that the scrap value of your trade-in will be added to your rebate. This value is usually minimal.

This program seems to be a good idea on the surface as it helps the automobile industry to get back on its feet from the recent financial crisis. It also helps some people get rid of their gas guzzling big vehicle and traded in for a smaller more efficient vehicle. However, the price of a new vehicle can range from $12,000-$30,000 or more. This means going into debt in an uncertain time. This may not be a good idea for a lot of people especially if your job is not secure. The old days are over and it may be more prudent to keep your older vehicle if it is running well. - 21392

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Clunkers for cash program can save you money or it can cost you a a lot of money. Learn how to qualify for the Clunkers for cash program and avoid its problems.