After almost running out of money earlier this month, then getting an infusion of funds from Congress, the government's wildly popular cash-for-clunkers program will end at 8 p.m. August 24, according to the U..S. Department of Transportation.
That doesn't mean you have until the clock runs out to take advantage of the program, officially known as the Car Allowance Rebate System. That 8 p.m. Monday deadline applies to dealers, who must submit their paperwork to the government by then to get reimbursed. Some dealers already have stopped participating.
The program provides rebates up to $4,500 for trading in an old gas guzzler for a new, more fuel-efficient vehicle. If your car is worth more than that, don't bother rushing to a dealership this weekend to take advantage of the program. You'll probably get more money selling your car on your own (see Three Tips for Safely Selling Your Car Online).
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
But if your clunker isn't worth much, first see if it qualifies for the program. Then check out this great list of questions and answers about the program from The New York Times.
-
Dow Hits New Intraday High on Fed Day: Stock Market TodayNot even the most important stock in the world could keep the oldest equity index down on a significant day for markets.
-
Savings Goal CalculatorTools Want to know how much you need to save each month to reach your financial goals? Our calculator helps you build a realistic savings plan.
-
21 Last-Minute Gifts for Grandparents Day 2025 to Give Right NowHoliday Tips Last-minute gifting is never easy. But here are some ideas to celebrate Grandparents Day.
-
Texas Sales Tax-Free Weekend 2025Tax Holiday Here's what you needed to know about the Texas sales tax holiday.
-
Alabama Tax-Free Weekend 2025Tax Holiday Here’s everything you need to know about the 2025 back-to-school Alabama sales tax holiday.
-
Best States to Buy Chocolate Candy Tax-FreeState Taxes There’s something spooky this Halloween, and it’s not just the ghouls. Find out if your state’s sales tax takes a bite out of sweet savings.
-
Florida Back-to-School Tax-Free Holiday 2025Sales Taxes The new tax-free holiday in Florida brought month-long savings on computers, clothing and other school supplies.
-
Five Reasons You Shouldn't Shop Amazon's Prime Big Deal DaysSmart Buying Are Amazon Prime Big Deal Days still a good deal? We'll break it down.
-
Five Ways to Save on Vacation Rental PropertiesTravel Use these strategies to pay less for an apartment, condo or house when you travel.
-
How to Avoid Annoying Hotel Fees: Per Person, Parking and MoreTravel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
