What is Cash for Clunkers?

We all dream about getting a new car, and getting rid of our old, embarrassing junker.  We’d love to get updated with the new features, and finally drive a car we choose. 

If you haven’t heard already, there is a new law called “Cash for Clunkers”.  It will be passed by Obama once he signs it.  What it does is it helps people get rid of their old car, and allow them to get a new car finally.  It is a great law that many people will be taking advantage of.  We’ve needed something like this along time ago, and finally someone has made that happen.

So, what exactly is Cash for Clunkers? 

Cash for Clunkers works like this.  If you have an old beat up car that is newer than 1984 (helps keeps us from junking classics) than you’re off to a good start.  We want to get all the old cars off the road.  In hopes of replacing them we newer, updated, and better gas mileage vehicles. 

Also, your vehicle must get less than 18 MPG.  So, unfortunately if you have vehicles that are smaller or mid sized cars, they may not qualify because they already get 18 MPG.  We’re looking to get the worst cars off the road, and the heavy polluters. 

Another thing that you need for your vehicle to qualify is a car that has been insured for at least the past year.  This makes sure people aren’t finding junk cars from lots and stealing them for money.

So now that you know what you need to qualify for Cash for Clunkers, how does this help you?

If you trade in your car that qualifies for everything listed above, you will receive $3,500-$4,500 towards buying a new car.  This will help the environment by getting rid of some of the bad cads, and allows the auto industry to do better with their sales.  So, if you can, save up some money, get rid of your junker, and buy that new car you’ve been dieing to have.  That’s a great amount of money to take!

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