CASH FOR CLUNKERS

Today’s blog is going to veer from the DIY realm somewhat but nonetheless is a subject close to my heart and something that I continue to address every chance I get. I am a car fanatic without the means to pursue that fanatasism and more so I am involved in and a strong proponent of “green” topics and initiatives. Being an ex-accountant and by nature and education an economist I am also very concerned with the state of the economy, today, both here in the US and in the World. With all of these issues in mind I wanted to put some information into the flow about the US “Cash for Clunkers” program. Here from the official US Government website are the particulars of the program in a nut shell and applicable links for further info. I urge everyone to look into this opportunity to both take a gas guzzler off the road, to better our economy by increasing demand for the auto industry and to beautify your driveway with a new car. I had to get a DIY purpose in there somewhere.LOL

The CAR Allowance Rebate System (CARS) is a $1 billion government program that helps consumers buy or lease a more environmentally-friendly vehicle from a participating dealer when they trade in a less fuel-efficient car or truck. The program is designed to energize the economy; boost auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation's roadways.
§ 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
§ Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
§ The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
Consumers will be able to take advantage of this program and receive a $3,500 or $4,500 discount from the car dealer when they trade in their old vehicle and purchase or lease a new one. Consumers you do not need to register anywhere or at anytime for this program. However, to find out eligibility requirements click here.
What is NHTSA doing to guard against fraud? Click here for more information. Allegations of fraud may be reported by calling our toll-free 24-hour hotline at 1-800-424-9071
§ Qualified consumers may participate in the CARS Program between July 1, 2009 and November 30, 2009 on authorized funds are no longer available.
§ Qualified consumers will receive a credit of $3,500 or $4,500 for an eligible trade-in toward the purchase of lease of an approved vehicle under CARS Program.
§ Qualified consumers will receive the $3,500 or $4,500 credit at the time the purchase their new vehicle.
§ Dealers must provide consumers with any other advertised rebates or discounts in addition to the credit they receive through the CARS Program.
§ Consumers should expect to conduct their deals at their dealership of choice, not on the Internet.
§ Consumers should expect the dealers to provide their best estimate of the scrap value for their eligible trade-in vehicle. Dealers are allowed to deduct $50 from this value for their administrative costs.
§ Consumers should expect that all information collected through the CARS Program will be kept confidential. Social Security members are not required for a CARS transaction.
For further info consult the links above or get out to an authorized new car dealer, kick some tires and see what the program can do for you