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Examples
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Under the Clunkers program, which launched July 27, vehicles purchased after July 1 are eligible for refund vouchers worth $3,500 to $4,500 on traded-in cars with a fuel economy rating of 18 miles per gallon or less.
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And higher values on traded-in vehicles help buyers bridge some of the gap now that lenders are warier.
Stepping on the Gas Needn't Crash Detroit Liam Denning 2011
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Under the Clunkers program, which launched July 27, vehicles purchased after July 1 are eligible for refund vouchers worth $3,500 to $4,500 on traded-in cars with a fuel economy rating of 18 miles per gallon or less.
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They will be given the new entree and a credit of several desserts, and the traded-in food will be thrown into the garbage.
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In an effort to stimulate the economy and help jump-start car sales, the government funded the clunkers program, which gave tax credits to people who traded-in a gas guzzler for a more fuel-efficient vehicle.
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That translates to more than 250,000 guzzlers and pick-up trucks traded-in for more efficient cars.
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In many cases, the new GM vehicles may be decidedly better than the older model being traded-in, offering more performance, fuel economy, and safety features.
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You cannot return an Eligible Vehicle and repurchase a vehicle you traded-in when you purchased the Eligible Vehicle;
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The latest data shows an average 15.8 mpg fuel economy on traded-in models and 25 mpg on the new, replacement vehicles – an overall 9.2 mpg increase.
Cash for clunkers: Top 10 most popular new cars and trade ins 2009
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Failing to pay off outstanding liens on traded-in vehicles, as promised, a.k.a. "car kiting."
Letter to Washington: Consumer Financial Protection Agency needs to govern all car financing 2009
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