The U.S. House of Representatives has increased the budget for cash for clunkers program from $1 billion to $2 billion on Friday.
The cash for clunkers program helps you trade your old cars for newer environment friendly ones and get a rebate of $4500. The program, which is updated on Friday, has become more popular than anticipated.
Take advantage of the extension of the program and check if your clunker is qualified for cash now!
Your trade-in vehicles must meet the following requirements:
. have been manufactured less than 25 years before the date you trade it in
. have a new combined city/highway fuel economy of 18 miles per gallon or less
. be in drivable condition
. be continuously insured and registered to the same owner for the full year preceding the trade-in
. The trade-in vehicle must have been manufactured not earlier than 25 years before the date of trade in and, in the case of a category 3 vehicle, must also have been manufactured not later than model year 2001
Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.