Car Allowance Rebate System– Diamond in the Rough? Heck yeah

The Car Allowance Rebate System (CARS) program is off and running and a lot of people are taking advantage of it.  And who wouldn’t take advantage of it.  Normally if people trade in a “junker” old car or a “rust bucket” they’ll get something like $500 to $2000 on trade.  But with the new Car Allowance Rebate System program, they’re now getting either $3500 or $4500 on those same vehicles.  Now that’s a great deal!

So if you’re still rolling down the road in your beat up 1987 Cadillac DeVille Fleetwood Brougham rear-wheel-drive with 277,000 miles, now might be the opportune time to trade in that beauty for a brand new vehicle as the “Cash for Clunkers” program has been approved and will be giving you top dollar for your old gas-guzzling machine. It’s kind of like getting 500 bucks for the suit that you wore to your high school homecoming dance back in 1987 — you know — the one with the elbow patches that smells like moth balls.

In short, this program will offer you either $3,500 or $4,500 credit off of a new vehicle when you trade in a vehicle that meet requirements. The trade-in vehicle:

1. Must be either a car, light truck, or large light duty truck.
2. Must have a combined fuel economy of 18 mpg or less.
3. Must be a 1984 or newer model.
4. Must be in drivable condition.
5. Must be continuously insured consistent with applicable State law.
6. Must be registered to the same owner for a period not less than 1 year immediately prior to the trade.

To be eligible for the credit (the new vehicle you are trading in for must, at least, have a combined (highway/city) fuel economy improvement of  one of the following:)

Cars: 4 mpg above trade-in’s fuel efficiency
Light Duty Truck: 2 mpg above trade-in
Large Light Duty Truck: 1 mpg above trade-in
Work Trucks: No mpg requirement. Trade-in vehicle must be model year 2001 or older.

To be eligible for the $4,500 credit:

Car: 10 mpg above trade-in
Light Duty Truck: 5 mpg above trade-in
Large Light Duty Truck: 5 mpg above trade-in
Work Truck: $4,500 credit not available for these

Thanks to the Car Allowance Rebate System, customers will get either $3500 or $4500 for their trade (depending on which criteria they meet).  They must purchase a NEW vehicle to qualify and the trade-in has to be scrapped after the dealer takes it in.  (So if you’re emotionally attached to your old clunker, this might not be the right program for you.  But if you’d like to receive $4500 for your 1987 Deville — as opposed to the $1500 you might normally receive on trade — then don’t let this opportunity pass you by.   The program is designed to get the older, not-so-fuel efficient vehicles off the road.  (We should point out that we in no way meant to offend anyone out there who might currently own a 1987 Deville with 277,000 miles on the odometer  — or for that matter anyone who wears suit jackets with elbow patches).

There is a tentative date scheduled for this program of July 2009 through November 1, 2009 which is to be determined by when the program is finalized.