Cash for clunkers Q&A
- July 28, 2009 - 9:03 PM
Q Can I buy any kind of vehicle through the program?
A The new vehicle needs to meet the fuel-efficiency requirements and have a manufacturer's suggested retail price of less than $45,000. Used car purchases don't qualify.
Q Can I get the clunker rebate plus the value of my trade-in?
Q What happens to my old vehicle?
A The trade-in vehicle will be scrapped within six months at a government-approved salvage facility.
Q How will this program affect other dealer and manufacturer incentives?
A Dealers must use the rebate in addition to -- instead of as a substitute for -- other rebates and discounts available to consumers. Many automakers are combining internal incentives with the government rebates to lure customers to showrooms. Dealers are also required to disclose the best estimate of the salvage value of each vehicle.
Q Does any money change hands?
A No. If a consumer qualifies for a government rebate, the amount of the rebate is deducted from the vehicle's sticker price and the dealer is later reimbursed by the National Highway Traffic Safety Administration.
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