Cash For Clunkers: The Real Deal

27 Jul Cash For Clunkers: The Real Deal

Lately you can’t turn on your TV or radio without hearing new car dealers ads for the federal government’s “cash for clunkers” program, officially re-named “Car Allowance Rebate System,” or CARS, an effort to stimulate new car sales while getting a few old gas guzzlers off the roads.  But don’t get scammed; there are some limits to the program, and there are some situations that the program is not your best bet–for example, if your old car is worth more than $4500.  Check out this summary of the cash for clunkers program or the official government CARS web site before you decide to take on a new car loan.  Or call the government hotline at (866) CAR-7891.

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Däna (pronounced "Donna") Wilkinson, has been a bankruptcy lawyer in South Carolina for 20 years. She is certified as a bankruptcy specialist by the South Carolina Supreme Court.
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