After months of declining car sales and closing dealerships, the auto industry may be getting a second wind. With the success of “Cash for Clunkers”, car sales are on the rise.
Officially known as the Car Allowance Rebate System, the program rewards people for turning in older gas guzzlers for new, more fuel efficient vehicles. Americans across the country can get a $3,500 to $4,500 voucher to replace their clunker. The exact credit depends on how much more fuel efficient the new vehicle is.
Editors at Edmunds.com have been flooded with questions from readers about who and what qualifies for the program. And despite a number of rules and regulations, experts say “Cash for Clunkers” has been the most successful of all the government stimulus plans this year.
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