The national cash for clunkers program hit the ground running today and already insiders are saying that the one billion dollars allocated to the stimulus program won't last long.
“We’re very excited about the tremendous interest in this
program,” Transportation Secretary Ray LaHood said today at a news conference to outline the
program. “We think it’s going to turn into a good news story
for many communities that have been hit hard by the recession.”
New car buyers can get up to $4500 hundred dollars back by trading in their old clunker for more fuel efficient models.
“With the tremendous public interest leading up to today, we anticipate that the $1 billion in funding for the cash for clunkers program will go quickly,” John McEleney, chairman of the McLean, Virginia-based National Automobile Dealers Association, said in a statement today according to Bloomberg.com
Check out the program guidelines to qualify for cash for clunkers money toward a new car purchase:
- 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
Click HERE
(http://cars.gov) to visit the official government web site and to find
out how you can get between $3,500 to $4,500 in your pocket when you
buy your next car.
