After Change.gov and Recovery.gov, the Obama administration has now launched a new website called www.Cars.Gov. This website will offer information on how to trade in your old car for a more fuel efficient car.
Congress passed the $1 Billion Cash-For-Clunkers plan and sent it to President Obama for his signature and consent last week. This program will help new car buyers to get $3,500-$4,500 when they trade in their old gas guzzling and inefficient cars for brand new energy efficient cars.
According to the Cars.Gov website, here are the five most important things you should know about this plan:
1. Your vehicle must be less than 25 years old on the trade-in date.
2. Only purchase or lease of new vehicles qualify.
3. Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements).
4. Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in.
5. You don’t need a voucher, dealers will apply a credit at purchase.
While this new plan was passed very recently, scammers are already jumping to cash in on this program. So beware of scammers and phony websites. As per CNNMoney,
Some purported “Cash for Clunkers” Web sites are asking consumers to provide personal information, including names, addresses and social security numbers, so they can “register” for the program, said Patricia Swift-Oladeinde, a spokeswoman for the National Highway Traffic Safety Administration (NHTSA), the government agency assigned to administer the program.
Other Web sites tell car shoppers they will put them in touch with authorized “Cash for Clunkers” dealers in their area, she said.
Head to www.Cars.Gov for more info on the Car Allowance Rebate System (CARS).
Check if you car can be traded in – For complete eligible vehicles list under the Cash For Clunkers program.
To find out mileage rating of your trade-in vehicle, go to www.fueleconomy.gov/feg/sbs.htm