Aug 26 2009
Cash for Clunkers: Good news for old car owners
The “Cash for Clunkers” bill generated such great interest in its first six days that it quickly burned through all of its funding and caught legislators off guard. Its purpose is to get rid of old automobiles that pollute the environment with detrimental chemicals. When the CARS (Car Allowance Rebate System) program, run by the National Highway Traffic Safety Administration (NHTSA), was introduced, it was difficult to know the results. There’s only one discount per person, but family members can cash in with separate clunkers. The program lets the current car owner to acquire $3,500 to $4,500 coupon for swapping in their clunker car for a brand new fuel-efficient vehicle. The current car of the owner should obtain less than 18 miles each gallon when it comes to fuel efficiency in order to qualify.
The fact that the program is still in high demand is not surprising at all. The extreme demand of car buyers and the wish to re-establish income to the auto industry during this setback has in fact resulted in car sales increase . SUVs and Trucks have separate rules. For light SUVs, trucks and minivans, the improved MPG must be 2 for a $3500 credit, and for an improvement of 5 MPG, you’ll get a $4500 credit. The new, qualified truck or SUV must have at least 18 MPG.
The NHTSA (the organization which is responsible for the CARS program) is required to take care of any fraud claims reported by the consumers regarding the rebate program. No pre-registration is needed to take advantage of the CARS program. You can call any new car dealer and discuss buying a new car.