Trade Your Clunkers If They Have The Right Value
Cash for clunkers program or car allowance rebate system is basically a federal program that was sanctioned by the US President B. Obama on 24th June 2009.
It's basically instituted in order to encourage common folks to trade in their older models for newer ones having a better mileage/ fuel economy by providing a credit payment of $3500 to 4500.
Credit facilities are also available for large vehicles like SUV's, trucks, trailers etc. This program has features that have been seen in the European countries where such schemes have been implemented.
In order to enable smooth running of this program, the NHTSA was given the go ahead to outline the details and implement this program in a proper and smooth manner.
To provide good and quality alternatives for your old clunkers, the CARS program has segregated cars, SUV's, Trucks and vans into a total of four categories on the basis of their make and features which comprise wheelbase, their weight and the approximate length of the vehicle in question.
The program states that vehicles that have been traded in for newer ones cannot be resold and have to be compulsorily destroyed.
For those who would like to trade in their clunkers for newer versions they should be reminded that they need to keep their wits about their shoulders while stepping into any deal. For those wanting to trade in their current vehicles that are priced more than $4,500 the benefits of this program are not meant for you.
The description of the vehicles categories as per the cash for clunkers program:
The program has in a very clear cut manner laid down the boundaries so as to assist in the proper segregation of the used vehicles.
• passenger automobile
• category 1 truck
• category 2 truck
• category 3 truck
Passenger automobile:
This is defined as a vehicle strictly used for traveling on public roads and broadways with a GVWR less that 10,000 and capable of seating/ transporting up to 10 individuals.
Category 3 vehicles like trucks and other assorted automobiles etc are not included in this calss.
Category 1, 2 and 3 truck:
Category 1 truck includes SUV's, pickup trucks, minivans, and medium sized transport vehicles with a GVWR lesser than or equal to 8500 pounds. The vehicles in this class have a wheelbase of around 115 to 124 inches and not more than that.
The vehicles that are covered under category 2 trucks are large pickup vehicles having a wheel base of more than 124 inches; while category 3 trucks include the very large pickup truck models having a GVWR more than 8500 and less than 10000 pounds.
As with all the other classes the category 3 truck vehicles are scrutinized on the basis of their year of manufacture and it is important that your pickup/vehicle is a pre-2002 model so as to ensure you get a good deal.
While trading in your category 3 vehicle you can either opt for a category 2 vehicle or a category 3 vehicle whose GVWR is not more than the vehicle that is traded in.