A clunker is a car that is in poor condition, often due to age or neglect. The term can also refer to a car that is not worth repairing or keeping.
Why is an old car called a banger?
One theory is that the term "banger" originated in the UK, where old cars are often referred to as "bangers" because they make a lot of noise. Another theory is that the term "banger" is derived from the fact that old cars often break down or "bang" into things. How does Cash for Clunkers work? The Car Allowance Rebate System, commonly referred to as "Cash for Clunkers," was a $3 billion U.S. federal scrappage program begun in July 2009 and ended in November of that year. The program was designed to provide economic incentives to U.S. citizens to purchase more fuel-efficient vehicles.
Under the program, consumers who traded in a qualifying vehicle received a rebate of $3,500 or $4,500, depending on the fuel efficiency of the new vehicle purchased. In order to qualify, the new vehicle had to have a fuel economy rating at least 4.5 miles per gallon (mpg) higher than the vehicle being traded in, and the combined fuel economy rating of the new vehicle could not be less than 22.5 mpg.
In order to receive the rebate, consumers had to submit an application to the National Highway Traffic Safety Administration (NHTSA) along with proof of purchase of the new vehicle, proof of ownership and insurance for the trade-in vehicle, and a signed declaration that the trade-in vehicle would be destroyed and not resold.
The program was popular, with over 700,000 applications submitted and rebates totaling more than $2.8 billion paid out. However, it was also criticized for benefiting wealthy consumers more than low-income consumers, and for not doing enough to promote the purchase of truly fuel-efficient vehicles. Does the state of California buy old cars? Yes, the state of California buys old cars. The state has a program called the California Cash for Clunkers Program, which provides incentives for people to trade in their old, inefficient cars for new, more fuel-efficient models. How long did Cash for Clunkers program last? The Cash for Clunkers program lasted for a total of six weeks, from July 1st to August 31st, 2009. During this time, participating car owners could trade in their old, inefficient vehicles for a voucher worth up to $4,500 towards the purchase of a new, more fuel-efficient car. In total, the program cost approximately $3 billion and resulted in the trade-in of over 700,000 vehicles.
Where did cash for clunkers cars go?
The Cash for Clunkers program, also known as the Car Allowance Rebate System (CARS), was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel-efficient vehicle when trading in a less fuel-efficient vehicle. The program was designed to boost the sales of new vehicles and therefore spur economic activity and increase employment.
Under the program, qualifying car owners were eligible for a rebate of $3,500 or $4,500 when they traded in their old vehicle for a new, more fuel-efficient one. The rebates were available on a first-come, first-served basis and the program was open to U.S. residents only.
The program was implemented in 2009 and ran until November 2009. A total of 690,114 vehicles were sold under the program.
The rebates were funded by the U.S. government and were paid out to participating dealerships. The dealerships, in turn, passed the rebates on to the consumers.