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Program logo The Toyota Corolla was the program's top seller according to U.S. DoT [1] The Ford Explorer 4WD was the program's top trade-in according to the U.S. DoT [1]. The Car Allowance Rebate System (CARS), colloquially known as "cash for clunkers", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel ...
The vehicle must be new, and the original use for the vehicle by the taxpayer receiving the credit should not change. The tax credit will only be given to the original purchaser of the vehicle, and not to a secondhand owner. If the vehicle is being lease, the tax credit can be claimed by the leasing company alone.
A pre-purchase inspection is an independent, third-party professional service that evaluates a vehicle’s condition before a purchase offer is made.Consumer protection organizations such as the Federal Trade Commission, [1] the American Bar Association, [2] insurance companies, and states recommend an independent pre-purchase inspection.
Using a 40(k) loan to purchase a car could be a smart move if it's the least expensive option. Before using this option, consider the potential drawbacks, including fees and missing out on ...
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The purchase price consumers pay for new cars is driven by four main factors, according to Cox Automotive: inventory availability, manufacturer incentives, dealer discounts and the value of the ...
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Furthermore, through the cash-for-clunkers program (scrappage program), those who wish to purchase an electric car will receive vouchers of over €5,000 total in return for their used car. [168] For hybrid vehicles, with or without plug-in capabilities, a €550 grant is offered, plus an additional €160 grant for hybrid vehicles emitting ...