Cash for Clunkers Program Heads to Obama

A $1-billion program is headed to President Barack Obama that could give you an incentive to get rid of your gas guzzler.

It's-called the Cash for Clunkers plan, which would give a voucher worth up to several thousand dollars to trade in a used car for something more fuel efficient.

It passed the U.S. Senate Thursday after getting through the House earlier this month.

To qualify for the incentive, your current vehicle must have been built since 1984 and get 18 miles per gallon or less.

The new car must get at least 22 miles per gallon and cost less than $45,000.

If the new car gets four more miles per gallon than the old car, you'll get a $3,500 voucher. If it gets ten miles per gallon more, you'll receive a voucher for $4,500.

Separate guidelines apply to small and large duty trucks. Fuel efficiency standards are less stringent for those vehicles.

People in the Valley are just starting to find out about this potential money-saving option.

A number of Valley car dealers are still sorting out the details of the program to see if it will actually be a benefit.


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