Cash For Clunkers Qualifying Cars

The Cash For Clunkers Program initiated by Congress this year is a great step in rebooting the auto industry and maybe even our economy. However, after spending 96 million dollars in less than a week buying back “clunkers” the government might be reluctant in continuing this program.

Originally, the Cash For Clunkers program was allotted $1 Billion dollars to buy back gas guzzling autos that averaged less than 23 miles per gallon. Each person would then be given a $4,500 credit when purchasing a new car after trading in their “clunker.”

Many consumers have complained about the tedious process that doubles the paperwork and stiffens negotiations when buying a car not like car rental. Granted most are getting more than what their car’s blue book is worth, it definitely comes at a cost. The government is currently rethinking the entire program and even contemplating suspending it indefinitely.