Cash for Clunkers
Cash for Clunkers Program… The term that defined an industry.
On July 1, 2009 to Federal Car Allowance Rebate System (CARS) kicked off. What quickly became known colloquially as the Cash for Clunkers program, CARS was a $3 billion program by the U.S. Federal Government encouraging people driving old junk cars, inefficient, smoggy cars to trade or sell the car for new, more efficient and environmentally friendly cars by offering credits between $3,500 and $4,500 dollars
Cash for Clunkers was so popular, the original $1 billion allocated to the program was spent in only 30 days. Congress budgeted another $2 billion, which ran out on August 24th, 2009, marking the end of Federal Cash for Clunkers.
All told, CARS (aka Cash for Clunkers) resulted in 690,114 cars sold for a total cost to the U.S. Government of $2.88 billion. Of those nearly 700,000 cars, 19.4-percent were Toyota, 17.6-percent General Motors, 14.4-percent Ford, 13.0-percent Honda and 8.7-percent Nissan.
CLICK TO GET AN OFFER
Cash for Clunkers, a lasting impact…
But, the effect of Cash for Clunkers was felt far beyond those 690.114 cars. It defined an industry. When the CARS program went live, DamagedCars.com was already two years old. We were already paying cash for cars, or at least checks for clunkers.
With the end of CARS in August, 2009, an entire industry had sprung up around the idea of buying damaged, salvage, junk, wrecked and old clunker cars, with DamagedCars.com as a pioneer in the field. High scrap prices, thanks to even higher oil prices, helped more people buy newer, safer, cleaner, more fuel efficient cars after selling junk cars.
Fast forward to 7 years later, and the Federal Cash for Clunkers program is a footnote in history. But, the term cash for clunkers lives on and so does DamagedCars.com.
So, if you want cash for your clunker or just need to sell your damaged, wrecked or broken-down car, give us a call at 1-877-877-7911 or click the link at the top of the page to “Get an Offer”. We will give you a fast, guaranteed offer. Because, at DamagedCars.com, we buy cars in less-than-perfect condition, nationwide since 2007.
Cash for Clunkers Purchases: