Just passed as an `add-on` to the $106 billion Iraq War Spending Bill - part of $20 billion in `extras`, like this program, Cash for Clunkers.
Source: http://cars.gov/
The process: http://cars.gov/flow-chart.html
Hmm...lets see its 2009 - 25 = 1984
So if I have a car that is prior to 1984, I've owned that vehicle for more than a year, and then buy/lease a new car that's less than $45,000 I will get $3,500 to $4,500 credit?
I guess since the government owns GM and Chrysler this is way to prop up their stocks.
Source: http://cars.gov/
The process: http://cars.gov/flow-chart.html
- 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
Hmm...lets see its 2009 - 25 = 1984
So if I have a car that is prior to 1984, I've owned that vehicle for more than a year, and then buy/lease a new car that's less than $45,000 I will get $3,500 to $4,500 credit?
I guess since the government owns GM and Chrysler this is way to prop up their stocks.