The federal government's Cash for Clunkers rebate system has been wildly successful, but the program has certainly left some potential car buyers out. Car dealers, however, don't want to miss out on those sales. A group of automotive retailers have launched their own alternative program in an attempt to catch buyers who've slipped through the cracks of the governments' rebate plan.
Motor Trend reports, "The program, organized by a group of more than 60 dealers across the country, aims to capitalize on the increased showroom traffic spurred by the CARS "Cash for Clunkers" program. No scrapping is involved with the Automotive Stimulus Program, though it does have its own set of rules." Qualifying buyers receive incentives ranging from $500 to $4,500 directly from the dealership, though this offer cannot be combined with the government's rebate.
In a press release, the dealerships explain, "To qualify for an incentive, a consumer must select a new or pre-owned vehicle that gets 2mpg better mpg than their current vehicle, which is the same requirement the government program has for SUV's, but this applies to all vehicles under the dealers plan. If a consumer does not have a trade, they can participate if they select a vehicle with 2mpg better than the government's mpg requirement of 17mpg."
Fox News notes, "Unlike the federally-funded program, the dealers are declaring all vehicles older than 2007 models to be eligible for trade-ins, and they are allowing the money to be used to buy or lease both new and used cars."
Program details are available at Autostimulusplan.com. The website doesn't provide a list of participating dealerships - instead promising to connect shoppers with a nearby dealership only if they provide contact information.
Motor Trend comments, "We're not sure how much additional money above normal dealer incentives this program will provide or if it's mostly a creative way to wrap existing rebates. Regardless, it's a catchy program that has potential."
If you're in the market for a new car, check out the U.S. News rankings of this year's best cars as well as this month's best car deals.
