back to articles | December 31, 2018 | Dale Peterson

Categories: Auto Loans & Financing

Cash for Clunkers Financing

The government of the United States is offering $3,500 and $4,500 vouchers for vehicles traded in toward the purchase of a new car.

Here is a quick overview of the Cash for Clunkers program.

  1. Visit the for current information about the program.
  2. Determine if you qualify for the program and locate a dealer.
  3. When you purchase or lease a new vehicle the dealer handles the submission to the NHTSA.
  4. NHTSA ensures that your purchase meets all of the requirements.
  5. About 10 days later the NHTSA credits the dealer if all requirements were met.

There are several restrictions to the program and it doesn't last forever.

  • New car purchases only (no used vehicles allowed)
  • Car must be purchased between July 1, 2009 and November 1, 2009
  • No cars older than 25 years
  • You must be able to drive your car to the dealership for trade in

For a complete list of restrictions visit

Don't wait. This is a first come first serve program. The funds to the program are limited and it will end before November 1, 2009 once the funds are gone.