“Cash For Clunkers” Program
The nationally famous “Cash For Clunkers” Program is now up and running. My understanding of the program is that eligible cars must be twenty five years old or newer and get eighteen miles per gallon or less. There are additional requirements which state the trade in must have been insured for at least the previous year. Qualifying vehicles are eligible for trade in for a new more fuel efficient car.
One big advantage of the program is the rebate offsets additional upfront costs of purchasing a brand new car. Usually, I advise against the purchase of a new car because of excessive costs and depreciation issues. However, with good negotiation and this tax credit there’s never been a better time to purchase a new car. Of course, if and only if you’re financially fit! Below are a few links offering more information on the program:
DW
