Financial Accuracy » Cash for clunkers

Cash for Clunkers Bill

MoneySmart — Mon, 03 Aug 2009 20:44:00 +0000

The House passed a bill last Friday so that the “cash for clunkers” program could continue on in its quest to help the economy. The program has been so successful that they have almost used up all of the $2 billion that was set aside as an incentive for car owners to trade in their older, less efficient cars.

Republicans are not too excited for the extension, in fact, many of them think it should be over and done with. Some feel that the incentive price for trading in a car should be lowered from $4,500 to around $2,000.

Many experts feel that even if the Senate agrees to pass the $2 billion dollar extension, the money would only last another week or two if demand continues to stay where it is.

So, if you are looking to get yourself into a new car, with a $4,500 gift from uncle sam to use towards your new car, you better get it fast. Time, and money are running out.

Cash For Clunkers–”Cash For Clunkers”

MoneySmart — Mon, 27 Jul 2009 22:06:50 +0000

Cash for Clunkers is underway and the government is starting to hand over money to those who turn in cars that are currently getting poor gas mileage. The cash for clunkers program is an attempt to help the environment by providing incentives for people to buy newer and more eco-friendly cars. The government has set aside $1 billion in for the program.

Cash for Clunkers gives away anywhere from $3,500-$4,500 per car/truck that is turned in. The amount of money given depends on what type of car the consumer is upgrading to. If the car is more fuel efficient, the consumer will be on the higer end. Cash for clunkers is expected to be a hit and over 80,000 dealerships have signed up to participate tin the program.

So incase anyone is looking for a new car and would like an extra $4,500 towards the purchase of their new car, this is the way to do it.