Congress has passed the cash-for-clunkers bill and it will be signed by the President. CNNMoney reports that it will have little impact on new car sales. The vouchers are in replacement, rather than in addition, to the value of your trade-in. NADA has published a chart that summarizes eligibility requirements (Cash for Clunkers Program Eligibility Chart).
If you are thinking of buying an old car in order to get the voucher for a new car, forget it. The law requires that you owned the clunker for more than a year and the offer expires on November 1, 2009. Go to Cars.gov.
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