%20is%20a%20program%20initiated%20by%20the%20government%20of%20the%20United%20States%20of%20America%20which%20aims%20at%20removing%20the%20fuel%20inefficient%20cars%20from%20the%20roads%20and%20also%20helps%20revive%20the%20present%20condition%20of%20the%20automobile%20industry.%20It%20has%20been%20promoted%20in%20a%20large%20manner%20with%20the%20news%20and%20the%20advertising%20industry%20as%20the%20mediums.The%20program%20was...){kind=link}
The Cash For Clunkers Program
The Cash for Clunkers Program, formally known as the Car Allowance Rebate System
(CARS) is a program initiated by the government of the United States of America which aims at removing the fuel inefficient cars from the roads and also helps revive the present condition of the automobile industry. It has been promoted in a large manner with the news and the advertising industry as the mediums.The program was initiated in the beginning of July 2009. It took time to completely evaluate the initial claims but by the end of the month, the first installment of the money that was allotted to the program was finished. This led to an additional funding; double the original amount to restart the project.
The results have been promising, the fuel efficiency of the cars that have been brought are 60% less than what has been sold. This is much more than what had been estimated initially in the plans. Even with such great success rate, the program has not failed to find its share of criticism. With claims that the government is manipulating the statistics and publishing false data, it is being speculated that the government is doing this to gain vested interests from the company that is being promoted the most under the cash for clunkers banner.
According to the estimates, approximately 3 lack vehicles old vehicles have been taken off the roads of the cities making a move towards better environmental conditions. The cars that are turned in are supposedly scraped. In lieu of the old car, a cash voucher is given to the person bringing in the car which can be availed against the purchase of a new car. There are certain ground rules that regulate the ways in which the cars are purchased by the dealers and the amount of payments that are done.
Some of the conditions are that the car has to have a manufacturing date of less than 25 years and has to be a registered one with a minimum mileage of 18. I.e. the car has to be in a decent condition for it to be turned in. The amount that will be paid in return surprisingly depends on the car that will be brought and not on what you have sold.
The car that you buy must have a minimum mileage of 22. The credit increases with the increase in this number. The same applies for the SUV's and the minivans, but they have 18MPG as the lower limit. The car that will be brought has to be a new one. In case the owner wishes to take a lease, the lease has to be for a minimum of 5 years in order to qualify for the cash for clunkers program.
This advantage that this program has shown for the car manufacturing companies is that because the addition that the people do in their homes after selling their old cars has to be a new unregistered one, the market prospects have increased significantly. More cars are being sold and the economy is looking for an upturn in the future.
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