Cash For Clunkers Program

admin — Wed, 29 Jul 2009 02:26:45 +0000

Lately, the U.S. Government passed legislation providing rebates valued from $3,500 to $4,500 when you trade in a car and lease or purchase a brand new car that is equal to or exceeds higher fuel efficiency guidelines.

Cash For Clunkers

The Cash For Clunkers program is a billion dollar federal government system that helps consumers purchase or lease a more fuel-efficient car from a registered car dealer when they trade a less environmental car or truck.

Your car must be less than 25 years old on the trade-in date

Trade-in cars have to be registered and insured continuously for the full year before the You don’t need a voucher, dealers will apply a credit at purchase

System is valid through Nov 1, 2009 or when the money are depleted, which ever comes first.

The system requires the junking of your eligible trade car, and that the dealer disclose to you an estimate of the scrap value of your trade in car.

The junk value, however minimal, will be in addition to the rebate, and not in place of the rebate.

Will your vehicle qualify?

A truck, van, or SUV with a GVWR greater than 8,500 lbs. and lower than 10,000 lbs.

A truck, van, or SUV with a GVWR greater than 8,500 lbs. and less than 10,000 lbs.

GVWR is the max allowable total weight of a car when fully loaded, including the car itself plus fuel, passengers, cargo, and trailer tongue weight.

This is a fixed weight specified by the manufacturer.

You can typically find your auto’s GVWR (1) on the standard certification label that appears on the frame or edge of the driver’s door in most vehicles or (2) in your car owner’s manual.

by Jim Werthers

About the Author:

This is only one of the many programs that the government has put in place to help people affected by the downturn in the economy. If you have lost your job, or know someone that had, check out Unemployment Office for more information about how to get help.

Car Loans » buy a car

Cash For Clunkers Program