Cash For Clunkers: Earn $4,500 For Your Gas Guzzler

Cash For Clunkers: Earn $4,500 For Your Gas Guzzler

If you trade your old vehicle for one that gets better mileage the government could provide you with federal vouchers of up to $4,500. An addition to the $106 billion dollar wartime spending bill, the Cash for Clunkers provision is an attempt to get gas-guzzlers off the road.

If you own a car that’s bought after 1984 that gives you 18 miles to the gallon or less, you’re good to go. For a trade with a car that gives you 22 mpg, you get $3,500. But you’d get $4,500 if the new car is 10 mpg higher in fuel efficiency.

So who qualifies?

  • Your vehicle must be less than 25 years old on the trade-in date
  • Only purchase or lease of new vehicles qualify
  • Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
  • Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
  • You don’t need a voucher, dealers will apply a credit at purchase
  • It needs to be worth less4,500
  • You cannot trade it in for a car that costs more than45,000

via Cash For Clunkers: Earn $4,500 For Your Gas Guzzler.

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  1. OPS_admin says:

    Correct karenc. I donated an old pickup to Salvation army several years ago. They towed it away

  2. karenc says:

    If your car doesn’t qualify for a voucher, you can get a tax deduction by donating it to charity. You can select from a very large list of charities to benefit at Cars4Charities. Call 866.448.3487 or go to http://www.cars4charities.org.

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