About C.A.R.S./"Cash For Clunkers"
Important points:
*Cars to be traded in have to be 1985 model or newer and get less than 18 miles to a gallon of fuel. The customer must have owned the vehicle for at least a year and have the paperwork to prove it (title, registration, insurance). The customer can only get the rebate once even if he trades more than one vehicle
*Only a limited number of new car dealers will be authorized to participate
*The new vehicle must have a sticker price of less than $45,000. The customer can't get a pre-owned vehicle, it must be from dealer stock or from the factory
*The amount of the rebate depends on the difference in mileage between the new vehicle and the vehicle being replaced. Trucks are held to a different standard than cars. The minimum rebate is $3500 and the maximum is $4500
*As the vehicle being traded in will be scrapped, the dealer is only obliged to pay salvage value, not "Blue Book"
*The customer can opt to lease the new vehicle instead of buying it
*The program will last till the end of October or when funding runs out
*If the new vehicle is a Hybrid, there are bonus incentives offered by the government!
All this information courtesy the official site: www.cars.gov
*Cars to be traded in have to be 1985 model or newer and get less than 18 miles to a gallon of fuel. The customer must have owned the vehicle for at least a year and have the paperwork to prove it (title, registration, insurance). The customer can only get the rebate once even if he trades more than one vehicle
*Only a limited number of new car dealers will be authorized to participate
*The new vehicle must have a sticker price of less than $45,000. The customer can't get a pre-owned vehicle, it must be from dealer stock or from the factory
*The amount of the rebate depends on the difference in mileage between the new vehicle and the vehicle being replaced. Trucks are held to a different standard than cars. The minimum rebate is $3500 and the maximum is $4500
*As the vehicle being traded in will be scrapped, the dealer is only obliged to pay salvage value, not "Blue Book"
*The customer can opt to lease the new vehicle instead of buying it
*The program will last till the end of October or when funding runs out
*If the new vehicle is a Hybrid, there are bonus incentives offered by the government!
All this information courtesy the official site: www.cars.gov