Leading U.S. automotive retailers recently launched a dealer funded stimulus program to provide up to $4,500 in incentives to compliment the government’s program Cash for Clunkers (CARS Program) and to compensate for some of the gaps that don’t allow consumers to purchase pre-owned vehicles or chose a short term lease.
Under the dealer funded Automotive Stimulus Program all vehicles older than 2007 are eligible regardless on their current mpg.
Program Requirements:
- Current vehicle is older than 2007
- Current vehicle is operable
- Current vehicle has been owned for a minimum of 6 months
- Current vehicle has been registered for a minimum of 6 months
- The replacement vehicle has to be more fuel efficient by a minimum of 2 mpg
Incentives vary based on the consumer’s current vehicle and desired vehicle, as well as state laws that regulate advertising and promotion. The Automotive Stimulus Program ends Nov. 1 and will continue if the government’s program expires before that date.
The flood of enthusiasm for the program has lead to scams targeting consumers.
Tips to Avoid the Scams:
- Be wary of any sites that asks for personal financial information
- Avoid any website that says you need to pre-register
- Do not provide your social security number or credit card number
- Do not give your information out it may result in identify theft
- You are not require to sign up for the program, participating new car dealers will add a trade-in credit to your vehicle assuming it meets program requirements
- Don’t be fooled by Web sites that portray themselves as an official Web site for the dealer stimulus plan; the official site is www.AutoStumulusPlan.com.
- Make sure you receive all manufacturer rebates in addition to the trade-in credits for your vehicle
To save even more money, join OdoClub the industry’s fist personal road miles rewards program. Members of OdoClub earn rewards for every mile they drive. The program is absolutely free for consumers and is funded through dealer participation.
Join today at www.OdoClub.com. It’s Free. It’s Easy. It’s Rewarding.
- OdoClub, It Pays to Drive
