Cash for Clunkers

[catherinek]

I am interested in the initiative known as "Cash for Clunkers." Apparently, you can turn in old, gas guzzling vehicles and get a cash voucher towards the purchase of a new car. Has anyone actually used this program? I don't understand the specifics of who this program works. Do you need to turn in the car to the same dealer from whom you purchase a new car? I currently live in CA and drive an old van, but am moving to FL. I don't think my van will make the drive across country, so I'd like to turn in the van in CA, get my credit, fly to FL and purchase a new car there.

[jason75]

Oh yeah... I think heard something about that a while back too and forgot all about it. That's an interesting idea. I would like to know how it works too. What are the specifics?

[NW Admin]

Yes, it's true that the government has created a new program (CARS) or "cash for clunkers" that allows you to turn in your old vehicle in exchange for a hefty credit. There are some rules on how this works, but it seems extremely useful and beneficial to a wide range of people.

You do not need to register for this aid anywhere. All you have to do is go to the car dealership where you want to trade your old vehicle in. The dealership will handle the process of getting the funds from the government.

• You must have and show proof of vehicle insurance for at least a year. You must bring this proof with you to the dealership.
• You also must have and bring at least one year of proof of registration (ownership) of the vehicle.
• You must have a clear title. Meaning you own the title with no strings attached.
• Your trade in vehicle date on the door jamb must be less then 25 years old.
• The trade in must be driveable.
• You cannot have participated in the CARS program before.

You must lease or purchase a NEW vehicle of not more then $45,000. The combined fuel economy of the new car must be at least 22mpg. Category 1 trucks: 18mpg. Category 2 trucks: 15mpg. Category 3 trucks have no minimum requirement, but other rules apply.

The purpose of this program is to get people into more fuel efficient vehicles, boost the economy, and help the environment.

[NW Admin]

Originally Posted by catherinek

I am interested in the initiative known as "Cash for Clunkers." Apparently, you can turn in old, gas guzzling vehicles and get a cash voucher towards the purchase of a new car. Has anyone actually used this program? I don't understand the specifics of who this program works. Do you need to turn in the car to the same dealer from whom you purchase a new car? I currently live in CA and drive an old van, but am moving to FL. I don't think my van will make the drive across country, so I'd like to turn in the van in CA, get my credit, fly to FL and purchase a new car there.

catherinek: You can, but do not have to turn the car in at the dealership you got it from. You can take it to any participating dealership. I am not 100% certain if you can turn the car in, get the credit, but buy the new car somewhere else. I actually believe that is probably not possible. The dealership you turn you car into has to go through an application process with the government to get that money. I believe it is paid directly to that dealership, not you personally. So I don't see how that would work and I imagine one dealership wouldn't want to do that if you were taking your money elsewhere.

[LOTUS]

I heard that a lot of people have had a hard time taking advantage of the cash for clunkers deal? That the money set aside for trading in your old beater is running out? I hear that the deal was a huge success and the dealerships can't even keep up hardly. I think it was definitely a good idea to set this up. I would like to do it myself, but I can't afford a brand new car. It would have been better if the car your bought didn't have to be brand new. That cuts out a lot of potential buyers if you ask me.

[Gregory]

I was wondering if Cash for clunkers was still around.?
Is the government cash for clunkers program still available?