Our car is 18 years old and we’re hanging by a thread. Any word on how soon it will be passed? Also, on March 30th President Obama said he would like the program to be retroactive to that date. Any idea how this would work if I have to buy a car in the next couple of weeks — this is some tough waiting, - my sticker is running out. It’s kind of a bummer when banks get bailed out right away and we have to wait so long with barely any info –help!

Unfortunately, just like any sort of legislation, it’s hard to say when or even if Cash for Clunkers will pass. Bill # S.247 is still in its earliest stages. It was introduced on January 14, 2009 and has been referred to the Energy and Natural Resources Committee for review. It may be months before the bill is voted on by either the Senate or the House of Representatives, and even longer before the program is enacted if it passes.

Keep in mind that if your vehicle is over 11 years old, under the current wording of the bill, you would only be eligible for a $2,500 voucher. Though, if you bought a vehicle that classifies as fuel efficient (42 mpg or better) you may be eligible for an extra $1,000.

We hope this answers your question!