Cash For Your Bucket/Hooptie/Clunker

Ed note: Bare with me please. The photo problem didn’t fix itself over the weekend. (SHAHRAM HELP!!)

President Obama signed into law a program the Car Allowance Rebate System (CARS) or Cash for Clunkers. This is a program that helps you purchase a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle.

1. You can get $4,500 if new car is 10 MPG more fuel efficient than the older car
2. You can get $3,500 if new car is 4 MPG more fuel efficient than the older car
3. This bill sets aside $4 billion for ‘Cash For Clunkers’ program
4. You may trade in or buy a domestic or a foreign vehicle

Who is eligible?
1. Only purchase or lease of new vehicles will qualify
2. Clunkers eligible for the program must get 18 MPG, or less
3. Must hold a valid legal title to the car seeking to trade in
4. Registered to the same owner for the full year preceding the trade-in

Who is NOT eligible?
1. Cars that have not been insured for the past year
2. Cars that are older than 25 years
3. Cars not in drivable condition
4. New Car manufacturer’s suggested retail price cannot exceed $45,000

Posted by thuy