Popular Hot Rodding Magazine Homepage Popular Hot Rodding

 

Clunker Bill Signed Into Law

Cash For Clunkers

Posted June 25 2009 08:43 PM by Johnny Hunkins 
Filed under: Hard Driving

We fought the good fight, but some good cars will die.  


Let’s all bow our heads and have a silent moment out of respect for all the third-gen Camaros, Buick Regals, Fox Mustangs, Olds Cutlasses, Ford Fairmonts, Caprices, Buick Roadmasters, Crown Vics, Trans Am GTAs, and all the other ’84-and-up performers (and sleepers) that will lose their lives to the new Cash For Clunkers law. On June 25, President Obama signed the Car Allowance Rebate System (CARS) into law as part of a defense spending bill. The federal program will provide either $3,500 or $4,500 when you trade your old car in for a new, more economical one. The particulars: the new car must get 5 mpg or better to qualify for $3,500, or 10 mpg or better for $4,500. Your old car must get 18 mpg or less, and you must have owned it for at least a year. Likewise, the dealer must scrap the old car. (The engine, transmission, and some other parts must be destroyed so they can’t be reused, but other parts can be resold). The rebate goes directly to the dealer, and is applied as a down-payment.

Share This Share This

Reader Comments:

Add a Comment:   (Must Be Registered)
User Name
Password
Comment
Pontiac G6 Research
Pontiac G6 Get updated on all your car buying needs from safety features, to specs, to crash test ratings and options. Get all the information you need if you are interested in buying a new car like the Pontiac G6. The 2010 G6 comes with a L4 standard engine and has a manufacturer suggested retail price of $21,275.00. It has a trade in value of $21,170.00 which should come in handy when you go to shop for your next car. You also might want to research the Lincoln Mark LT and the Chevrolet Camaro.
  • RSS Feed
    • Add to My Yahoo!
    • Add to Google
    • Subscribe on Bloglines
    • Subscribe on NewsGator
    • MyMSN
    • My AOL
    • Add to NetVibes
    • Add to Rojo
    • Add to NEWSBURST
    • Add to Technorati
    SUBSCRIBE TO OUR BLOGS


Get Adobe Flash player