Cash for Clunkers 2009 – Car Allowance Rebate System

The cash for clunkers program 2009 is getting off the ground. The government launched a website yesterday cars.gov dedicated to this purpose. The cash for clunkers program is supposed to help get old cars off the road and replace them with newer more fuel efficient vehicles. Consumers can get up to 4500 dollars in the form of a discount off the new car if they trade in their old clunker for cash. There are some rules that must be followed which include:

• Your vehicle must be less than 25 years old on the trade-in date
• Only purchase or lease of new vehicles qualify
• Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
• Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
• You don’t need a voucher, dealers will apply a credit at purchase

 

So clearly there are some rules which must be followed and not all cars will qualify. Now many people are wondering how well this cash for clunkers program will actually work. Many people are out of work and many more are concerned about their job. Will a large number of people go out and purchase new cars in this current economy. Personally I doubt it. With that if you are in the market for a new vehicle then now is the time to pick one up to take advantage of this savings.

I would make sure that the dealers are not going to jack up the prices of cars in anticipation of increased sales because of this cash for clunkers program. You may want to shop around and compare prices before you decide to go out and use your cash for clunkers voucher.

Welcome back!