How to get Cash for your old Clunker
There is no question about it. The United States economy is facing a crisis the likes of which has not been seen in recent history. Unemployment has reached levels which haven't been seen since the Great Depression. Foreclosures in the United States have also reached record highs.You can drive down any street in almost any neighborhood and see the effects of the recent economic downturn. Homes are becoming dilapidated, and property values continue to fall at an alarming rate. Homeowners are being forced to walk away from places they have called home because they can no longer afford the mortgage payments.With the election of a new President, Americans began, for the first time in a long time, to feel hope. A new stimulus bill, which was rushed through Congress at breakneck speed, promised Americans some new hope. One of the plans for the economic stimulus is called "Cash for Clunkers", and seemed to be just what the auto industry needed to make a turn in the right direction. Nobody, not even Congress, anticipated just how well Cash for Clunkers would work out.Cash for Clunkers is a program designed to give consumers a $4500 tax break for trading in vehicles which get less than 17 miles per gallon of gasoline. Not only is it designed to help stimulate sales of vehicles, but to also help cut down on pollution and greenhouse emissions.During its first week, the Cash for Clunkers promotion ran out of money. Congress initially set aside one billion dollars in order to make the program effective. As of July 30, 2009, Cash for Clunkers had used the entire one billion dollars toward the program.What does this mean for you? If you are planning on purchasing a new vehicle, and have a gas-guzzler in your garage right now, it is the time to jump. Congress is working on adding another one billion dollars to their Cash for Clunkers incentive, and extending the deadline to September 30, 2009. While there is still some opposition in congress among Republicans, it appears there is enough steam behind this bill to get it pushed through.If you are looking to cash in on your old gas guzzler, now is the time to buy something new. The Cash for Clunkers program has given some power back to the average consumer. It has helped stimulate a much-needed portion of the American economy. It also has the long-term goal of eliminating pollution and greenhouse gas emissions to help create cleaner air for the entire world to breathe.
