Some people are finding out their old car can earn them some quick cash, as long as they follow the guidelines.
Steve Robinson wants to trade in his old buick but isn't certain the new cash for clunkers program is for him. Thanks to the new federal initiative car owners like him could earn thousands of dollars towards a new car. Robinson isn't sold on the concept.
"Each and every tax payer is paying for this program. It's a way to raise taxes and jeopardize my children's future," says Robinson.
Car owners can earn up to a $4,500 voucher if they trade in their old car. Here's the catch you have to buy a new more fuel-efficient vehicle than the one you currently own. Vince Caccese is the general sales manager for Midlands Honda. He thinks the program can make a big difference.
"We take in a lot of cars worth a lot less than $3,400 or $4,500. So those customers should try to benefit from it," says Caccese.
He says car owners would get a voucher worth $3,500 if they trade in a vehicle getting 18 miles per gallon or less. The voucher's value would grow to $4,500. If the new car gets 10 miles per gallon more than the old one. Caccese thinks the program will stimulate the economy by bringing customers to showrooms and help the environment
"I think it will get a lot of the old ,run-down cars off the road," says Caccese.
Robinson thinks if getting rid of old gas guzzlers is the government's main concern, there are better plans.
"No matter if its a brand new car or an older one, as long as it meets the criteria the government specifies," says Robinson.
The program is supposed to go into effect tomorrow; but Caceese says the government can add new rules until July 24. He thinks most car dealerships probably won't offer "cash for clunkers" until then. Also car owners must meet certain requirements to be eligible.