RSSConsumers get feds’ ‘cash for clunkers’
From: The Washington Times | July 19, 2009
Consumers are snapping up cars ahead of the new federal “cash for clunkers” program, reserving popular models before inventories run out, auto dealers around the country say. The Car Allowance Rebate System, or CARS, won’t begin paying rebates until Friday. The program offers up to $4,500 to car buyers trading in qualified cars and trucks. Shoppers are already putting down deposits to hold cars until the program kicks in. “We’ve been reserving cars for customers, taking deposits,” said Vince Sheehy, owner of 17 dealerships and the largest Ford dealer in the Washington area. “At our Springfield location, we now have …
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Many “clunkers” won’t qualify for a voucher because they don’t meet the mileage requirement or because they don’t run. In those cases car donation is an excellent option. By donating car to charity, the donor receives a tax deduction and the charity receives some much needed revenue.