Tuesday, July 28, 2009

Cash for Clunkers Gotchas



CBS has a new web site called MoneyWatch.com. It provided this story:

Here are five catches for Cash for Clunkers you may not have heard about:
  • Your clunker must be road-ready with at least a year’s insurance history in your name.
  • It must be less than 25 years old.
  • The vehicle you buy must be new, not used.
  • If you want to lease the new car, the contract must be for at least five years.
  • The manufacturer’s suggested retail price (MSRP) of the vehicle you buy can’t exceed $45,000.
source: http://moneywatch.bnet.com/saving-money/article/cash-for-clunkers-5-secrets-and-3-smart-tips/322848/

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