Is ‘Cash for Clunkers’ for Chumps?


The Car Allowance Rebate System, informally called “Cash for Clunkers,” was passed by Congress in June to help jump-start struggling auto sales and to improve the environment.

But some critics say the program may be economically and even environmentally counter-productive.

It will be administered by the National Highway Traffic Safety Administration through participating new car dealers who can handle the paperwork when you buy the vehicle.

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