Cash for Clunkers Gets Green Light - House and Senate OK
Supporters of the Cash for Clunkers Bill got some good news.
House and Senate lawmakers seem to have agreed on a $106 billion dollar wartime spending bill that includes $1 billion dollars for the Cash for Clunkers program.
Consumers looking to get assistance with a new fuel efficient car purchase are one step close to qualifying for a $3,500 or $4,500 cash voucher. This coupled with existing manufacturer incentives can add up to big savings.
For example, Hyundai is offering a $3,000 rebate on the purchase of a 2009 Hyundai Sonata. If a consumer traded in an old clunker getting 15 mpg, their total cash incentives from the CFC program and Hyundai would total $7,500. That total package will be very motivational for cash strapped Americans.
Detroit Auto News
According to a Detroit Auto News email blast:
"House and Senate negotiators reached agreement late Thursday
on a $106 billion wartime spending bill that includes $1 billion for a "cash
for clunkers" program to boost auto sales.
The House and Senate are expected to pass the compromise version of the
spending bill next week. But the $1 billion set aside for the auto-purchase
program is far short of the full cost of such an effort, estimated at $4
billion. The $1 billion is expected to fund the program through Sept. 30,
the end of this fiscal year, according to two congressional sources close to
the negotiations who asked to remain anonymous."
