Thursday, June 25, 2009
A federal program intended to boost automobile sales and help reduce gas consumption is supposed to begin operation by the end of July, now that President Barack Obama has signed the legislation. After being known as “Cash for Clunkers” while Congress worked on passing the new law, the program is officially called the Car Allowance Rebate System (CARS).
Once the National Highway Traffic Safety Administration gets CARS up and running in the next few weeks, consumers will have until November to take advantage of rebates ranging from $3,500-$4,500 for trading in their old gas hogs for newer, more fuel efficient models. Trade-in vehicles must be less than 25 years old, and they must get 18 miles per gallon or less MPG (except for certain heavy-duty pick-up trucks and cargo vans. Both the CARS website and Cash for Clunkers (by Pasch Consulting) have more information on how to take advantage of this limited-time opportunity.
-Noel Brinkerhoff
Car Allowance Rebate System (National Highway Traffic Safety Administration)
CARS Program Rollout (National Highway Traffic Safety Administration)
Cash for Clunkers Program Eligibility Chart (National Automobile Dealers Association)
Cash for Clunkers (Pasch Consulting Group)
Cash for Clunkers Law: Which Cars Will be Eligible? (by Noel Brinkerhoff, AllGov)
“Cash for Clunkers” Closer to Law (by Noel Brinkerhoff, AllGov)
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