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Govenment Car Incentives

Cash for Clunkers Information

Missed out on 'Clunkers?' There are Still Breaks*
Missed out on Cash for Clunkers? According to MSNBC, Uncle Sam still has a few bones to throw your way if you buy a car before the end of the year. Both tax credits and deductions are available on new car purchases made before Dec. 31. The tax relief won't rival what you might have received if you traded in your gas guzzler, but it can help lower your tax bill - or boost your refund - when you file your return in April. All buyers, including those who took advantage of Cash for Clunkers, are eligible to deduct their sales taxes. The federal stimulus bill included a deduction for the sales tax and other fees charged on any new car purchase made after Feb. 17 and before Jan. 1. What's more, the deduction is limited to the first $49,500 of the purchase price. If you live in one of the states that doesn't have sales tax - Alaska, Delaware, Hawaii, Montana, New Hampshire, and Oregon - you can deduct any fees imposed by state or local governments. On top of the sales tax deduction, people who buy certain hybrid vehicles can also get a tax credit. A list, last updated Oct. 9, of the eligible cars is available on the Internal Revenue Service Web site, at www.irs.gov. Click here for more on available tax credits for consumers purchasing new vehicles.

*article from AIADA ... American International Automotive Dealers Association

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Previous Information...

"CARS" (Car Allowance Rebate System), also known as "Cash for Clunkers", or "Cash for Guzzlers" is a Government program operated by the NHTSA (National Highway Traffic Safety Administration) to offer U.S. drivers an incentive to purchase a new, more fuel-efficient, vehicle. This will get more new cars on the road, and get old gas-guzzling models off them.

There are a few requirements to receive the $3,500 or $4,500 credit. These include:

* Your vehicle must be less than 25 years old on the trade-in date
* Only purchase or lease of new vehicles qualify
* Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
* Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
* You don't need a voucher, dealers will apply a credit at purchase
* Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
* The vehicle that you are trading in is required to be destroyed. Therefore, the value you negotiate with the dealer for your trade in is not likely to exceed its scrap value. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle.

There are other stipulations for work trucks.

The Cash for Clunkers program!

You may use this program to receive credit on either a purchase or a lease of a new vehicle through us if you are trading in a qualifying model. We are happy to answer any questions you may have, so please call us with any concerns!

When you stop in, we'll take a look at your vehicle and determine which cars on our lot will qualify for the CARS credit. Because of our wide selection and large inventory, you should have a number of vehicles to choose from. You can browse our current inventory of new cars here. Call us today or visit us in person. We'll make the entire process easy for you!

If you would like us to contact you regarding the Cash for Clunkers program and help you determine if your vehicle is eligible, just fill out our contact form and we'll be in touch.

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