Get Cash for Your Clunker!: Tip-of-the-Day #148


Do you own a gas guzzler that sets you back hundreds of dollars in gas every month? Now you can trade it in! A new bill has been passed that lets consumers turn in their gas-guzzling cars and trucks for vouchers worth up to $4,500 toward more fuel-efficient vehicles! This is clearly an effort to both boost sales of new vehicles but also to encourage more of the population to “go green.”

Under the House bill, car owners can get a voucher worth $3,500 if they trade in a vehicle getting 18 miles per gallon or less, for one getting at least 22 miles per gallon. The value of the voucher grows to $4,500 if the mileage of the new car is 10 mpg higher than the old vehicle.

Owners of SUVs, pickup trucks or minivans that get 18 mpg or less can receive a voucher for $3,500 if their new truck or SUV is at least 2 mpg higher than their old vehicle (for all of you that just CAN’T live without the extra space). The voucher will increase to $4,500 if the mileage of the new truck or SUV is at least 5 mpg higher than the older vehicle. And, consumers can also receive vouchers for leased vehicles!

If you’ve been thinking it may be time to make a change and save some cash…I’d say now you have all the incentive you need!

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