Cash For Clunkers: Will you take advantage?

We mentioned in a recent article that the Cash For Clunkers is now underway, which the Department of Transportation official kicked off yesterday. As you would expect this kind of program will take some time explaining to drivers, which is why Secretary Ray LaHood is talking to the media about the new incentive.

LaHood appeared on CNBC with Erin Burnett, which he took time to explain all the details to people. If you have not heard of Cash For Clunkers, the simplest way to explain it is, you can trade in your old car when you purchase a new one from a dealer. The new one has to offer better mileage than your old vehicle; the government will then give you $3,500 to $4,500 towards the deal.

If the program proves successful, then there could be more than 250,000 new cars on the road. This is great for two reasons, old cars will be taken off the road and new more fuel-efficient cars will replace them. For further details on this, visit US News

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