Cash For Clunkers Program Gets A New Life As Congress Approves $2 Billion

by Trendy

Congress has approved another two billion dollars for the Cash For Clunkers program this morning. The program was about to be suspended by the White House as almost all the one billion dollars initially approved were said to have been used up in week one. The House of Representatives voted 316-109 that added two billion dollars to the program’s kitty. President Obama was in favor of adding more money to the program that will hopefully take out about 750,000 gas guzzlers off the road and bring in more fuel efficient cars. The program is already proving to be a blessing in disguise as dealers across the country are reporting huge consumer interest in it. Dealerships across the country were running scared this morning when news about the program being suspended was reported in the media. The approval of more money for the Cash For Clunkers program should help settle more nerves in the auto industry. Will congress and the president add more money (to the existing $3 billion) to this program if it proves to be a great success? It remains to be seen if there will be a political will to throw more money at this program.

The Cars.gov website that was setup by the Obama administration is said to have faced problems with heavy traffic. The website helps set up processing of rebates for consumers using the Cash For Clunkers program. Cars.gov and FuelEconomy.gov are the two official sites that provide complete information about the Cash For Clunkers program. FuelEconomy.gov helps consumers make sure that their trade-in vehicle’s combined city and highway fuel economy is above 18 miles per gallon. FuelEconomy.gov also provides a complete of cars makes and models that will qualify under the program for a trade-in and $4,500 rebate.

To find out mileage rating of your trade-in vehicle, go to www.fueleconomy.gov/feg/sbs.htm

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