Cash for clunkers – Does yours meet the test?
Posted By Josette Mandela on July 28, 2009
It’s official! Cash for clunkers is open for business! For those of you with older cars thinking cool, I can finally trade in this piece of junk for a new car, Wait! There are strings attached to that money and you may find out that your junker does not meet the government’s definition of a clunker.
1. First your vehicle must have been manufactured since 1984. If it was made earlier than that so sorry You do not qualify for the program.
2. Second your vehicle must have a “combined” mileage rating of 18 or less. This mystical number has been changed since it first was calculated by the EPA so check the official government website before getting too giddy over your poor fuel mileage.
3. You must have continuously owned the vehicle and had it insured for the last year.
4. It must be drivable.
Now if you survived all those hurdles, the next question is how much will you get. Again, in order to see any money for your clunker, you must increase your gas mileage by 4 miles per gallon at a minimum.
For some of you out there that may be easy. That’s where the next gotcha will hit you. The new vehicle must get at least 22 miles per gallon or you do not qualify for the free government money.
For those of you tired of your old gas guzzler and willing to jump through the government hoops for your share of $1 Billion and a new car, keep in mind this program is only available until November 1, 2009.
Time is of the essence to get your share of government return of your tax dollars. Just one problem with this concept. The government is spending our grandchildren’s money, our cupboards are bare and the only way to replenish our resources and decrease our deficit is to increase taxes.
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