The House on Tuesday passed a $4 billion plan to subsidize new car sales for consumers called the “Cash for Clunkers” program. The program would give consumers up to $5,000 to turn in older gas guzzlers and buy new cars if also passed by the senate.
How would it work?
The government will send up to $5,000 to the selling dealer on your behalf if you meet ALL of the following criteria:
1. You trade in a car that has been registered and in-use for at least a year
2. Your trade in has a combined city/highway fuel-economy rating of 18 or fewer miles per gallon (Check your vehicles combined rating)
3. Your trade in is at least 8 years old
4. Your new car is less than $35,000
Original Article – http://money.cnn.com/2009/06/09/news/economy/cash_for_clunkers/index.htm
Wednesday, 12. August 2009
Kevin,
I performed a google search as follows: provident funding appraisal denial. As a result, I came up with your name. I believe there are thousands in the same boat as us and that the loan denials is based rates going up after we locked in. If so, there may be an incredible class action lawsuit against Provident Funding. Your thoughts?
Mike Moss