Cash for Clunkers – New Federal Program
Some of you may have heard about this already, but I thought it was worth sharing.
The CAR Allowance Rebate System (CARS) is a $1 billion government program that helps consumers buy or lease a more environmentally-friendly vehicle from a participating dealer when they trade in a less fuel-efficient car or truck. The program is designed to energize the economy; boost auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation’s roadways.
Starting on July 27, consumers will be able to take advantage of this program and receive a $3,500 or $4,500 discount from the car dealer when they trade in their old vehicle and purchase or lease a new one. Consumers you do not need to register anywhere or at anytime for this program.
However….
MoneyWatch on CBS tells us some of the fine print. Check it out here. In the end, weigh your options. But if you’ve been wanting to get rid of your old gas-guzzler for a brand new more efficient vehicle, this might be the program for you.
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