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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Patricia Trinchero who wrote (213541)7/31/2009 3:37:23 PM
From: atticus4pawsRead Replies (2) of 306849
 
Well, since I just went through the program on Monday, and read the legislation the prior day, I have to disagree with you. We can leave it at that. However, here is the relevant part of the legislation. Sounds like dealers where you live are playing with fire.

2. Eligibility of Trade-in Vehicles
The CARS Act establishes four criteria for an eligible trade-in vehicle. The trade-in vehicle must:

(1) be in drivable condition;

(2) have been continuously insured, in accordance with State law, and registered in the same owner’s name for the one-year period immediately prior to the trade-in;

(3) have been manufactured not earlier than 25 years before the date of trade-in and, in the case of a category 3 vehicle, also be from a model year not later than model year 2001; and

(4) have a combined fuel economy value of 18 miles per gallon or less,10 if it is a passenger automobile, a category 1 truck, or a category 2 truck.
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