Since most of you are paying the taxes to support certain “stimulus” plans, you had might as well get yours. The “Cash for Clunkers” program is pretty attractive for those who are thinking about buying a new car and have a clunker that is worth very little.
From what I understand the qualifications are as stated below:
- Any car with 18 mpg or less and was manufactured within the last 25 years is eligible
- The car must have been registered to the same owner for a period of not less than 1 year
- The car is in drivable condition
- The car is continuously insured
- No customer income limitations
- Limit 1 per customer
This offer is effective from July 2009 through November 1 2009
If you buy a new vehicle that has a 10mpg improvement you get $4500
If you buy a new vehicle that has a 4mpg improvement you get $3500.
From what I understand, the dealer will actually cut the check and the dealer gets paid back by the government.