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Trade in Your Clunker
By Coleen Bennett
The Cash for Clunkers program officially took effect on July 27th and it’s a great deal – if you’re in a position to take advantage of it. First, you need to own a car or truck that gets 18 miles per gallon or less. Before you think, “I can make that happen”, slow down. The government’s intent is to replace vehicles that are currently being driven on the road with more fuel efficient vehicles, and they have rules in place to make sure people can’t trade in cars that weren’t causing a problem anyway. In order to qualify, your trade-in must: • Be less than 25 years old
• Get 18 MPG or less (according to their chart, not your actual mileage or what the manufacturer said when you bought it)
• Be in drivable condition
• Have been owned, registered and insured by you for the last year
• Must be owned free and clear (the dealership can probably help you pay off your loan as part of the purchase of the new car) Next, you need to find a new car that is on the list of eligible cars and gets at least 4 miles per gallon more than your old car. If it gets at least 4 mpg better than your old car, you’ll be eligible for a $3,500 rebate. If it gets at least 10 mpg better, you’ll be eligible for a $4,500 rebate. The rules are slightly different from trucks and SUVs. The Cash for Clunkers rebate is in addition to manufacturer’s incentives and other government incentives. Check out the prices and incentives on the new vehicles you are considering. Also look into incentives like the hybrid vehicle credit. Combine these to get the best total deal you can. You can buy the new car or lease it for 5 years or more to be eligible. The new car dealership must be certified by the NHTSA , but that process is taking time. Go ahead and contact your local dealership now. They may be willing to process the rebate to you, knowing that they are in the process of getting certified. Get your documentation ready. You will need:
• Proof that you have had the car registered for at least a year. Bring a copy of this year’s registration and last year’s.
• Proof that you have had the car insured for at least a year. Bring this year’s insurance certificate and last year’s.
• The pink slip. (If the car is not yet paid off, bring information about the current loan and lienholder.) That’s it! Go buy your new fuel efficient car! Some great suggestions for a fuel efficient car is the Toyota Camry Hybrid which gets a combined 41 MPG. The Buick LaCrosse with E-Assist gets 36 MPG on the highway if you are looking for a fuel efficient luxury car. If you need a truck the Ford Ranger offers the best inclass MPG at 27. |
Cash for Clunkers Ford Dealer
| Cash for Clunkers Eligible Cars
| Cash for Clunkers Sturgeon Bay
| Cash for Clunkers Toyota
| Cash for Clunkers Palm Springs
| Cash for Clunkers Anaheim
| Cash for Clunkers Orange County
| Cash for Clunkers Virginia
| Cash for Clunkers South Orange County
Cash for Your Clunker
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