Government Offers ‘Cash For Clunkers’

EL PASO, Texas — If you have ever thought about trading in your old car for a new one, this might be the time to do it. The government is offering a hefty incentive to get you in the driver’s seat.

The government program is designed to get old gas guzzlers off the street by giving drivers a credit of up to $4,500 to buy a new car.

It’s called “Cash for Clunkers,” and old car owners and new car dealers have been looking forward to it.

“It’s a wonderful deal,” said Cliff Shamaley, the general manager of Shamaley Pontiac Buick GMC in West El Paso.

He says for the new car buyer, Cash for Clunkers is as good as it gets.

“As far as trade in value goes, this is the best offer I’ve ever seen in my life,” Shamaley said.

This is how it works: the vehicle must be less than 25 years old, or in this case a 1984 or newer model. It must get 18 miles per gallon or less.

It only applies to the purchase or lease of new vehicles.

And the program runs through Nov. 1 or until $1 billion in credit is exhausted.

There is also a catch that may eliminate many people and their vehicle. You must have current insurance for at least one year, as well as current registration.

But if you can get through that red tape, many who may not be able to afford a new car may now be able to.

“I’m looking for a new car,” said Genna Roush. Roush is looking to trade in her old Dodge Neon. She likes the sound of getting up to $4,500 for a car worth nowhere near that.

“That’d be great…I’d be probably making more than what the car is actually worth so that sounds good to me.”

And for dealerships that have been struggling to sell cars in a tough economy, it sounds great, too.

“What they’re trying to do is get the old cars off the streets. It should be enormous here in El Paso, especially being a border town. But you just have to follow the red tape. Not everybody qualifies,” Shamaley said.

Click on the link to the left to find out if your vehicle qualifies for Cash for Clunkers. You can also find out more information about the program at www.cars.gov.