Incentive for Ditching Gas Guzzlers
Good news for Americans who have gas guzzling vehicles they are eager to get rid of, but who may not be able to afford a trade in. The House of Representatives has just approved new legislation known as “cash for clunkers.” It may allow people buying a new car to receive an incentive of up to $4,500 if they will trade in a gas guzzling vehicle for a more fuel efficient one.
There are some strings, of course — aren’t their always? For instance, to qualify for the trade in, a vehicle has to be rated at eighteen miles per gallon and absolutely no more than that. However, that is good new for people who own vans, trucks, or SUVs. If a vehicle gets four miles per gallon more, at least, the owner will get a $3,500 voucher. For cars that get ten miles per gallon more, owners are eligible for an additional thousand dollars.