Cash for Clunkers programs kicks off

If you have been thinking about trading in your old gas guzzler in exchange for something newer with better fuel efficiency, then now is the time to start looking! The government’s “cash for clunkers” program has officially started, and the benefits to car buyers is great.

Depending on your old car you are eligible for anywhere from $3,500 to $4,500 instant rebate taken at the dealership, and should really give a lot of people the incentive they need to get out and finally pick up a new car.

There are a couple of rules that you have to consider. Your trade in car must be less than 25 years old, and have an average fuel efficiency of less than 18 miles per gallon. In addition, you must trade in for a new car, it can not be applied towards the purchase of a used vehicle. The new car must have a price under $45,000.

Maybe $4,500 is not enough incentive to get you to your local car lot… well, how about $9,000 for your old clunker? Sound too good to be true? That is what I thought when my mom called and told me about the possibility, but sure enough, Chrysler has announced that it will match the government’s incentive with one of its own. So if you qualify for the $4,500 incentive then you can go pick up a new Chrysler at a $9,000 discount.

I know I have a 2000 Jeep Cherokee sitting in my driveway that has been wrecked several times, has 170,000 miles on it, and I could probably sell for about $1,500 if I was lucky. All of a sudden I am in a position where I could feasibly get around $10,000 credit for it on the Chrysler lot. It may be too good of a deal to pass up. I mean, the Jeep cost $8,000 when it was bought 6 years and 100,000 miles ago. Pretty good deal to say the least.

I did not really believe it when I heard it, but I went to the Chrysler site and sure enough, on the home page there it is… it shows that you can pick up a Chrysler PT Cruiser with a sticker price of $18,720 and after $9,000 worth of incentives the final price tag is sitting at $9,720. Definitely a good deal.

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