Consumer Law

Clunkers Still = Cash

By Randall Ryder

Regardless whether you are for or against the controversial “Cash for Clunkers” program, it just received an additional $2 billion dollars from the government—enough cash to fund it at least through September.

If you want to take advantage of the rebates, here are some things to pay attention to:

1. Act fast. The program will end on November 1, 2009, or when the funds run out.
2. No coupon required. You do not need to present an actual coupon to the dealer at the time of purchase.
3. Do it in person. Be prepared to go to the dealership to make the deal.
4. Know the purchase requirements. You must lease or purchase a new car to qualify, it must cost less than $45,000, and it must get a certain mpg (depending on the type of car).
5. Trade-in requirements. The car you trade in must be both registered and insured continuously for one year preceding the sale, it must be in drivable condition, it must be less than 25 years old, and it must meet certain mpg requirements.

For more info, check out the official government site.

(photo: ThreadedThoughts)

Full post as published by Caveat Emptor on August 19, 2009 (boomark / email).