Cash For Clunkers - Car Allowance Rebate System (CARS)
Cash for clunkers - also known as the Car Allowance Rebate System (CARS) - is a United States federal scrap page program that is used to help provide an incentive for people to help increase the economy. It gives residents the chance to purchase a newer and more fuel efficient car by trading in their much older and less fuel efficient model.
Cash for clunkers - also known as the Car Allowance Rebate System (CARS) - is a United States federal scrap page program that is used to help provide an incentive for people to help increase the economy. It gives residents the chance to purchase a newer and more fuel efficient car by trading in their much older and less fuel efficient model.
This particular program was created in order to provide a boost and stimulus to the failing economy and boost the sales in the auto industry. At the same time there would be safer and more fuel efficient and cleaner vehicles on the road. The program started officially in July1, 2009 but claims did not begin until July 24th.
The estimates that were released from the Department of Transportation showed that $1 billion had been appropriated for the cash for clunkers program and this had been exhausted on July 30, 2009. This was a shock to many including the federal government who had expected the program to run till November 1, 2009.
It has become such a high demand among residents and consumers and such a great opportunity for them to save money by getting rid of their old gas guzzler and trading it in for a model that would be more fuel efficient. According to the government and the auto industry more than 250,000 vehicles were sold through the program in under a week.
Because of its high support Congress has agreed that another $2 billion be used to keep the program running through the help of the Obama administration. This was approved by the House Of Representatives on July31st and then again by the Senate on August 6th. On August 7th President Obama signed the bill and the stated that the added funds would be available by Labor Day.
The majority of the cars that were traded in had a fuel efficiency of 15.8 mile per gallon. These people were able to purchase a new car that had a 25.4 miles per gallon fuel efficiency or better. This is a 61% improvement and allows for better savings and less fuel emissions being pushed into the air because of the clean way in which they run.
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