Cash For Clunkers 2009-Car Allowance Rebate System
If you own a 2004 or older vehicle with poor gas mileage, the new Cash For Clunkers 2009 Car Allowance Rebate System may allow you to receive an incentive of $3500 to $4500 towards the purchase of a New Vehicle.
While the kinks still have to be worked out and rules to oversee the program still need to be worked out, The Cash For Clunkers 2009 Bill has been sent to President Obama for his signature.
Here are the particulars of the Car Allowance Rebate System that we have found so far:
1. Your car must be 5 or more years old (2004 or prior)
2. Must be drivable AND currently registered for at least 120 days
3. For SUVs, the new or used vehicle selected MUST have an MPG at least 25% better than the government mandated 21.3 MPG.
4. For cars, the new or used vehicle MUST have an MPG of at least 25% better than the government mandated 27.5 MPG
Here is a story on the Cash For Clunkers 2009 Bill at the Detroit Free Press
Here is the Government Website for The Cash For Clunkers 2009 Program at http://www.cars.gov/.
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