July 09, 2009

Exchange old car for CAD $3,500!

Here is good news for those who have old cars as gas guzzlers.

On these days, media is flapping about Cash Clunker Program. Actually, in Canada, it is not coming to be an official statement yet. However, Environment Minister Jim Prentice said Saturday he's reviewing whether Canada should follow the United States and several European countries in offering consumers a substantial financial incentive to scrap their clunkers and buy new vehicles.

Prentice said he's met with a number of auto manufacturers over the past few months to discuss the prospect of giving Canadians $3,500 to trade in their older, polluting vehicles. This measure is still on consideration because Prentice wants to evaluate the effectiveness of an existing program.

Makers and sellers of cars have been aggressively lobbying Ottawa to adopt the measure, contending it will significantly boost sales in the sagging auto sector while reducing greenhouse gas emissions.

In Alberta, drivers who scrap vehicles made in 1995 or earlier can get up to $490 for a bicycle, up to a year's worth of monthly transit passes, or $300 cash.

Source form Leader-Post

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