8 p.m. Monday…that's the deadline for car dealers to submit any cash for clunkers paper work to the Federal Government.
Transportation Secretary Ray LaHood announced the hugely successful $3 billion dollar program will come to an end after this weekend on
Monday
"It's been a thrill to be part of the best economic news story in
America," he said "Now we are working
toward an orderly wind down of this very popular program."
Why?
Because the money is almost gone and the government wants to wind down the program.
The Cash for clunkers guidelines include:
Cars–Cars
and trucks must be 1984 models or newer.
The most recent and complete
and sortable list of cash for clunkers qualifying cars is HERE.
MPG–Eligible cars must get 18 mpg or less in combined highway/city rating
Paperwork–Owners need to show dealers their car's title, and proof of insurance and registration.
Car Rebates–
$3500 if the car gets at least 4 mpg more than the trade-in or $4500
rebate if the car gets at least 10 mpg or more than trade-in.
Truck Rebates–
For SUV's pick-up or minivans, a rebate of $3500 if the new vehicle
gets at least 2 mpg higher than the old vehicle or $4500 if it gets at
least 5 mpg more than the trade-in.
And yes a Maserati does qualify as a clunker believe it or not. You can watch the video HERE.
