“Cash for Clunkers” is the newest government rebate program that begins today. The catch? Not all vehicles qualify. Your car must get a combined 18 miles to the gallon or less. To find out the gas mileage of your car, CLICK HERE.
Some have been critical of the program and say it will hardly make a difference. Chrysler announced that it will match the government’s incentives and will offer consumers an additional $3,500 to $4,500 rebate (that’s a possible $7,000 to $9,000 total when you add Chrysler’s offer on top of the government rebate).
A few other requirements are:
- Cars that are eligible to trade in must be less than 25 years old.
- Your old car that you trade in will be worth a credit of $3,500 or $4,500 to apply toward the purchase or lease of your new car. The new vehicle must be one that is approved under the CARS program.
- If the dealer is advertising rebates or discounts, those can be applied in conjunction with the rebate.
- The program runs until November 1, 2009, or until authorized funds run out.
For more information about the program, visit the official website www.cars.gov.