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Cash for Clunkers program means big savings




(7/27/2009) By Adam Lekfoe - The U.S. Department of Transportation officially kicked off the "Cash for Clunkers" program Monday. In an effort to stimulate new car sales the government is giving out rebates if you recycle and update your ride.

This is a program that could save people possibly thousands of dollars.

Cash for Clunkers officially started Monday, but many dealerships began offering the deal on Friday.

The weekend was filled with nonstop phone calls and people driving in old cars at some dealerships.

The only real issue is the qualifications. If you can handle the paperwork the price is too good to pass up.

When you have racked up miles on an old car it can be tough to say goodbye. For the owners of these cars it was pretty easy.

"Excitement is the key word we are seeing right now. And you do not see that a lot in the car busines," said Ravi Singh, Anderson Ford.

For Anderson Ford in Grand Island the weekend was filled with this excitement. 8 cars were moved off the lot with the Cash for Clunkers program. It is a number that is growing quickly.

"We are moving inventory, it is kind of tough replacing the inventory we are moving. So this program is going pretty good," Singh said.

Lots of cars leaving means a lot of paperwork.

"I have not left my office all day until now," said Singh.

Some dealerships see all that paperwork as the main downfall of this program.

"When I sell a car usually it is about an 1/8th of an inch thick. Now it has gotten into about a half inch," said Tim Roe, Roe Buick Pontiac.

The main focus of the paperwork is qualifications. From gas mileage to the age of your car, everything must be in agreement.
At Roe Buick and Pontiac none of their Buicks fit the criteria.

"It is somewhat frustrating. Our Buick customers understand it, they wish it would, but they understand," Roe said.

Roe has seen success with their Pontiacs.
With this major rebate they expect to get rid of that inventory quickly.

"The consumer can really win right now," said Roe.

The program will provide a total of $1 billion in rebates.

With 80 percent of dealerships nationwide participating both dealerships do not expect it to last very long.

"That money can go pretty quick. You are talking in possibly less than a month," said Singh.

"Short term I think it might be 6 weeks tops," said Roe.

It has only been a few day and already Cash for Clunkers is moving some metal.

The qualifications depend on your car and the car you are buying. Your car must be less than 25 years old. It must have a combined fuel economy of 18 miles per gallon. And it must have been insured and registered for the past year.

For a complete list of all the qualifications and to see whether you can trade in your clunker head to http://www.cars.gov

Attached Files: 727clunk.jpg 


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