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Cash for Clunkers Program |
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Written by Skip Butner
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Friday, 28 August 2009 10:31 |
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Cash for clunkers program 2009 has gotten off to a rocky start. Since the program began it is run into many problems including running out of funds. Hopefully, the politicians will see fit to add more funds for the program because of its wild popularity.
by SkipButner
Cash for clunkers program 2009 has gotten off to a rocky start. Since the program began it is run into many problems including running out of funds. Hopefully, the politicians will see fit to add more funds for the program because of its wild popularity.
There have been some hiccups with the program so far. Many dealers have complained that the government has not gotten back to them in a timely manner which just holds up the delivery of their customer's automobile.
$4500 is the maximum rebate for the program and your car can be no older than 25 years old, and it has to have gotten less than 18 miles per gallon. Your car would've had to have been insured and registered for the entire year prior to the trading day. You also receive the scrap value for your car which is normally minimal but it ensures that your car will never be on the road again.
You may see more and more advertisements to sell new cars as time goes on and the program's popularity gets even stronger. These dealerships will be happy to apply the $4500 towards the purchase of a new car and handle all the paperwork at the same time. Are you getting a good deal? In my experience car salesman like to play with numbers to make you think you're getting a better deal than you actually are.
The question that you need to ask yourself before you participate in the program is if you need a new car, or you just simply being hypnotized by the number of ads on TV because of the popularity of the program.
Remember, to keep in mind that when you purchase a new car you're going into deep debt to the tune of $10-$25,000 a term. You're also going into debt for between 40 and 60 months. In this speech of scarce jobs and opportunities, you need to ask yourself if this is a smart thing to do. It may be a smarter option to keep your current vehicle or to purchase a used car and forgo the rebate.
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