Hyundai Makes the First Cash 4 Clunkers Trade
Hyundai has been really jumping onboard the customer satisfaction train these days. They were the first to enact a Customer Assurance Program and now they are going ahead with the CARS Act – also known as Cash For Clunkers. In fact, only 6 days after the government passed this Car Allowance Rebate System bill into law a Virginia woman used her voucher to pick up a Hyundai.
Katherine Michon of Arlington, Virginia, traded a 1995 Ford Explorer for a 2009 Hyundai Elantra Touring – that’s an upgrade from 15 mpg to average 26 mpg. Not a bad CARS upgrade. According to the program, consumers are eligible for up to $4500 in rebates through the CARS program. According to Hyundai, 13 of its models qualify for the CARS program, which mandates new cars achieve at least 22 mpg combined, while light trucks need to carry an average of 18 mpg.
Many vehicles will not be eligilbe for a cash for clunkers voucher. Those not eligible include cars older than 1984, cars that get better than 18mpg, and cars that don’t run. All of these vehicles are eligible for tax deduction is they are donated to charity.