Back From the Dead
Cash for Clunkers lives on at select dealerships as the 2009 Automotive Stimulus Program
By Joshua Condon Sep 8, 2009 2:09PM
As has been previously reported, the government's Cash for Clunkers program moved new cars. Which is probably why a group of 73 dealers wants to keep it alive -- in spirit, at least -- several weeks after the program ended.
As Consumer Reports notes, it's called the 2009 Automotive Stimulus Program, and it works much the way Clunkers did: Trade-in allowances can be boosted (up to 20 percent over Kelly Blue Book Value, with a max of $4,500) if the new car gets better mileage than the trade-in. Specifically, a new car that gets two miles per gallon more than the trade-in earns the old car a 10 percent premium; five extra miles per gallon earns 20 percent.
The program applies to all types of cars, and unlike the government's Cash for Clunkers deal, the trade-ins won't be crushed. You can check out the dealership association's Web site for details or to find a participating dealer.
As Consumer Reports notes, it's called the 2009 Automotive Stimulus Program, and it works much the way Clunkers did: Trade-in allowances can be boosted (up to 20 percent over Kelly Blue Book Value, with a max of $4,500) if the new car gets better mileage than the trade-in. Specifically, a new car that gets two miles per gallon more than the trade-in earns the old car a 10 percent premium; five extra miles per gallon earns 20 percent.
The program applies to all types of cars, and unlike the government's Cash for Clunkers deal, the trade-ins won't be crushed. You can check out the dealership association's Web site for details or to find a participating dealer.
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