How Does Cash for Clunkers Work?
Many people are wondering how does cash for clunkers work? This is a great program by the government to stimulate the flow of money in the automotive market. Basically, you give your car and in turn you get credit to buy a new car.
“Qualified consumers will receive a credit of $3,500 or $4,500 for an eligible trade-in toward the purchase of lease of an approved vehicle under CARS Program.”
There is and eligibility criteria, so for example you can’t trade your car if it has more than 25 years of use. Also vehicles must get 18 MPG or less.
Here is the Cash for Clunkers Official page, where you can read all about eligibility and rules.
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