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Fast Facts: Cash for Clunkers
- Participation in the CARS program must be between July 1, 2009 and November 1, 2009, or while funds last. http://www.cars.gov/
- Qualified consumers will get $3,500 or $4,500 toward the purchase of an approved vehicle at the time the vehicle is purchased. http://www.cars.gov/
- Dealers are still required to provide consumers with any other advertised rebates or discounts in addition to the CARS credit. http://www.cars.gov/
- Consumers should expect to conduct their deals at the dealership of choice, not on the internet. http://www.cars.gov/
- Dealers are allowed to deduct $50 in administrative costs for estimating the scrap value of the eligible trade-in vehicle. http://www.cars.gov/
- All information collected through the CARS program will be kept confidential. Social Security numbers are not required for a CARS transaction. http://www.cars.gov/
- The Cash for Clunkers program ran out of its initial $1 billion in funding after its first week. http://www.washingtonpost.com/wp-dyn/con...
- The U.S. Sentate voted 60 to 37 on August 6, 2009 to extend the popular "Cash for Clunkers" bill giving the program an additional $2 billion in funding. http://money.cnn.com/2009/08/20/autos/ca...
- The Cash for Clunkers program ended on August 24, 2009. http://blogs.thecarconnection.com/marty-...
- 690,114 clunkers vehicles were traded in and $2.88 billion spent. http://blogs.thecarconnection.com/marty-...
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The Ford Cash for Clunkers website, Let Ford Recycle Your Ride, was launched by Ford Motor Company just 24 hours after President Obama signed the government sponsored CARS program into law.http://www.autoblog.com/2009/06/25/ford-launches-cash-for-clunkers-eligibility-calculator/
The Car Allowance Rebate System (CARS), better known as Cash for Clunkers, was a U.S. government-sponsored economic stimulus plan designed to boost auto sales by giving consumers up to $4,500 off the purchase of a new fuel-efficient vehicle when they traded in a less fuel-efficient vehicle. The Cash for Clunkers program went into effect on July 1, 2009, and came to end on August 24, 2009. The Cash for Clunkers program resulted in 690,114 clunker trade-ins and finished slightly under budget at $2.88 billion.http://blogs.thecarconnection.com/marty-blog/1034657_cash-for-clunkers-ends-under-budget-sort-of
What Happens to the Clunkers?
- Car buyers bring their eligible clunkers to the car dealership and get a credit of $3,500 to $4,500 on a new fuel-efficient car.
- The car dealers then have to submit a reimbursement claim to the government.
- On the lot, the dealers are supposed to replace the engine's oil with a solution of sodium silicate in order to irreparably damage the engine.
- The clunkers are then sent to the scrapyard, and the recyclers have 180 days to sell any parts before the clunker must be shredded.
(August 17, 2009 edition of Time Magazine, page 14, by Justin Fox)
Ford to Build More Popular Models
In July 2009, the popular Cash for Clunkers government incentive program drove U.S. auto sales to their highest levels of the year. In fact, Ford's sales were up 2.4 percent from the same period last year, which was Ford's first monthly increase in two years.http://www.washingtonpost.com/wp-dyn/content/article/2009/08/03/AR2009080300915.htmlAugust 13, 2009: Ford to Boost Production of Focus and Escape: In order to keep up with demand of its popular Focus and Escape models, Ford plans to build 10,000 more Focuses and Escapes this quarter to replenish depleted showrooms. These popular Ford models were top sellers under the Cash for Clunkers program.http://www.miamiherald.com/business/breaking-news/story/1184302.html
Top Cash for Clunkers Trade-Ins
Various models of the Ford Explorer top the list of the top Cash for Clunkers trade-ins.http://autos.yahoo.com/articles/autos_content_landing_pages/1036/top-cash-for-clunkers-trade-ins-and-new-cars/- 1998 Ford Explorer
- 1997 Ford Explorer
- 1996 Ford Explorer
- 1999 Ford Explorer
- Jeep Grand Cherokee
- Jeep Cherokee
- 1995 Ford Explorer
- 1994 Ford Explorer
- 1997 Ford Windstar
- 1999 Dodge Caravan
Top 10 Cash for Clunkers New Cars
The top-selling vehicle under the Cash for Clunkers program is the Ford Focus.http://autos.yahoo.com/articles/autos_content_landing_pages/1036/top-cash-for-clunkers-trade-ins-and-new-cars/-
Featured Video
Ford's GVP for Marketing and Communications, Jim Farley, talks about the new Cash for Clunkers program that passed in the US Senate. Under the program, Ford has over 20 new models that qualify including Fusion, Escape, F-series, Flex, MKT, Taurus, and Transit Connect. Visit www.ford.com for more details on the Cash for Clunkers incentive plan and details on the Ford vehicles that qualify.
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Ford Cash for Clunkers Qualication Calculator
Ford's "Cash for Clunkers" user-friendly website provides consumers with all the information they need to determine whether or not they are eligible for the Obama Administration's Car Allowance Rebate System (CARS) program.
The Ford Cash for Clunkers website answers frequently asked questions about the CARS rebate program, and feature an eligibility calculator. With this calculator, consumers can select their current vehicle to determine if it's eligible as a trade-in vehicle under the CARS program. If you trade-in vehicle is eligible, you can then choose a new car among 20 Ford, Lincoln and Mercury fuel efficient vehicles that qualify under the Cars Allowance Rebate System."http://www.cashforclunkers.ford.com/"
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