Cash for Clunkers Scams

Beware of Cash For Clunkers Scams!

Just this week the “Cash for clunkers” bill was passed, however the scammers are already hard at work and fraudulent web sites have begun to pop up. The only official site is http://www.cars.gov/

In fact any site that uses the term ‘Cash for Clunkers” is not an official site since the name of the program is actually Car Allowance Rebate System. The only site to rely on is the official site at http://www.cars.gov/

Regulators have 30 days to set up all the details and a system for collecting and distributing vouchers, which would make it late July or August the before the vouchers are available.

The customer does not have to apply or register for any part of the program so be wary of any web site that requires you to give any personal information..

Program Guidelines

Your vehicle must be less than 25 years old on the trade-in date
Only purchase or lease of new vehicles qualify
Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in

Breakaway Honda

You don't need a voucher, dealers will apply a credit at purchase
The fuel MPG is based on the data at http://www.fueleconomy.gov/ using the new fuel economy formula under the red bar for combined City Hwy mileage.

Career Day at Breakaway Honda

On April 14th and 15th Breakaway Honda sponsored a career day for local middle schools and High Schools.

Students were introduced to both the sales and service aspects of the Automotive industry.

http://www.breakawayhonda.com/dealership/news.htm

http://www.prlog.org/10219781-greenville-honda-dealer-host-career-day.html

Tax Breaks for New Cars

New car buyers may be eligible for tax breaks on their new car purchase. According to the IRS consumers who purchase a new car, light truck, motorcycle or motor home with a value less than $49,500 will be eligible for a tax deduction for the amount of sales tax paid on that vehicle. To qualify the purchase must of been made after Feb 16Th 2009 and before January 1st 2010. The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers. The deduction is available regardless of whether a taxpayer itemizes their return.
It may not be taken on 2008 tax returns.

Breakaway Honda