"Cash for Clunkers" (CARS) was originally billed as a "green" program, but the huge response has turned it into a stimulus for automakers as well. Knowing a good idea when they see it, a group of auto dealers has banded together to create a private automotive stimulus plan of their own at Autostimulusplan.com/.
The private automotive stimulus plan is designed to fill in the gaps of the "Cash for Clunkers" program. That means that while there are exceptions from eligibility for the CARS program, the new program will allows most consumers who don't meant those requirements to still get up to a $4,500 rebate.
For example, this private automotive stimulus plan will take all vehicles from 2006 or older, not just those making 18 MPG or less. Unfortunately, there is not a set rebate for trade-ins, meaning each deal is different. There's a calculator, but it's non-operational right now, and the only way to find out information on a possible deal is to fill out a form and get a call from a participating dealer.
Here are the Private Automotive Stimulus Plan Requirements:
- Current vehicle is a 2006 or older
- Current vehicle is operable
- Current vehicle has been owned for a minimum of 6 months
- Current vehicle has been registered for a minimum of 6 months
- Current vehicle has been insured for a minimum of 6 months
- The replacement vehicle has to be more fuel efficient
- Incentives vary based on current vehicle and desired vehicle
So, in the private automative simulus plan, 1) above is more liberal, 2) - 6) are about the same, and 7) is worse.
However, regardless of whether or not "Cash for Clunkers" runs out of money and ends early, this program will run through Nov. 1st. This private automotive stimulus plan was originally scheduled to begin on Aug. 14th, but was moved up a week due to the incredibly positive CARS feedback.
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