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Recent Legislation Proposed To Get Gas-Guzzlers Off The Roads

images-211.jpgThe 111th Congress is just a week old, and they have already proposed legislation that will affect the car world.  The House and Senate have both proposed new legislation hoping to get vehicles that are fuel-inefficient off of roads.  This program, which is called “Cash for Clunkers” would provide owners of old gas-guzzlers cash.  For example, a 1999 Ford Explorer would get between $2,500-$4,500 so they could buy a new vehicle.

So, what is the catch here?  First of all, the car would have to be a model year 2004 or earlier, and get 18mpg or less.  Also, the car must be drivable and it had to have been registered for the last 120 days or more.

The tricky part, however, is that after you get the reimbursement slip, you must buy a used or new vehicle that has a fuel economy rating that exceeds the CAFÉ target set for its vehicle class by 25%.

This bill can be helpful for many people, especially if you are interested in buying a new car that gets good gas mileage.  Just keep in mind that you will have other expenses to consider, such as new car warranties and maintenance costs.

Posted on Friday, January 16th, 2009 at 5:31 pm In New Car Warranties  

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