Smart Spending

Last Call for Clunkers

By Brad Tuttle | @bradrtuttle | August 21, 2009 | +

The Cash for Clunker clock is running out. The government incentive program officially expires on Monday, August 24, at 8 p.m., so this is the last weekend you can score up to $4,500 for turning in your old gas guzzler in exchange for a more fuel-efficient model.

But don’t rush into any decision. Even with the government handout, you very well may get more bang for your buck with a no-interest lease or by buying used. And you never know: Today’s clunker may be tomorrow’s classic.

Related Topics: cars, Cash for Clunkers, government, Saving & Spending, Smart Spending

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  • tanboontee

    Is the cash-for-clunker scheme working?

    There doesn’t seem to be any clear-cut answer, it is open to interpretation and argument.

    One could have imagined that if the real intention of the government was to save the car industry, why not print more money and give every American having a driving license $10,000 cash to purchase a new gas-frugal car straight away? It may add up to a trillion dollars, but that represents only less than 10% of the total national debt.

    Give it a try.

  • http://money.blogs.time.com/2009/12/15/the-year-of-living-cheaply-a-retrospective/ The Year of Living Cheaply: A Retrospective – It's Your Money – TIME.com

    [...] 24 Last chance to get up to $4,500 for your hunk-of-junk automobile via Cash for Clunkers, in which nearly 700,000 old gas guzzlers were swapped for more fuel-efficient (and likely, [...]

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