User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


70° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Find local businesses
on the KELO Pages!

 

Money Matters: Cash For Clunkers

June 30, 2009, 9:50 PM by Angela Kennecke

We've told you how the new Cash for Clunkers federal rebate program signed by President Obama is expected to put more of a strain on the already tight used car market.  But a lot of people are asking how this new rebate program works to put them into a new vehicle.

The first thing you need to know is that it's no longer called Cash for Clunkers, but rather the Car Allowance Rebate System, or C.A.R.S for short.

Basically, if you want to get into a new car, you may be able to get $3500 or $4500 to go toward a new one. But it's important to note that is not on top of the trade-in value of your vehicle. Local dealers expect to see cars in the $500 to $1,000 price range coming in.

Here's how you know if your car qualifies for the trade in credit:

• It has to be less than 25 years old.

• It gets 18 miles a gallon or less.

• It's drivable, registered and has been insured for the past year.

The law allocates $1 billion for the program, which is being administered by the National Highway Traffic Safety Administration.  The NHTSA has 30 days to put out the details of the plan, which will end November 1.

You don't need a voucher. The car dealer will apply the rebate. Beware of scams going around online that ask consumers to pre-register. That's not part of the program. Cars traded in on the program will be scrapped.

Car Allowance Rebate System

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

You may also like

Sutton Bay CEO Dies In UTV Rollover Crash

8/25/2014 2:34 PM

The CEO of Sutton Bay Resort in central South Dakota died after rolling his 2014 Polaris Ranger late Sunday night.

Full Story
Authorities Search For Missing Inmate

8/24/2014 10:43 AM

31-year-old Bridget Franzen failed to report to a work release job on Saturday, August 23.

Full Story
SF Mother, Daughter Admit To Large Drug Conspiracy

8/27/2014 10:54 AM

Faith Rasmussen, 21, and her 55-year-old mother Theresa Rasmussen admit they were bringing marijuana from California to South Dakota and distributing ...

Full Story
Car vs. School Bus Crash Near Inwood, Iowa

8/26/2014 11:31 AM

Authorities in northwest Iowa are investigating a serious crash involving a car and a school bus.

Full Story
SF Drug Ring Involved 220 lbs. Of Marijuana

8/27/2014 5:48 PM

Her boyfriend was killed during a botched robbery in December in northwest Sioux Falls. Faith Rasmussen and her mother, Theresa, have now pleaded guil...

Full Story | Watch


Events