"PHOENIX -- Having driven the equivalent of six smoke-belching laps of the planet, Tony Metzler figured his aging Chevrolet Blazer SUV would not make a good trade for a new car. Until now that is.
With a $1 billion federal "Cash for Clunkers" program that pays consumers $3,500 or $4,500 in credit to swap aging gas-guzzlers for new, more fuel efficient models, he made the plunge. ...
The program signed into law by President Barack Obama in June offers a trade-in credit of up to $4,500 to owners of cars built since 1984, with fuel economy of 18 miles per gallon or less."
Tim Gaynor reports for Reuters July 9, 2009.
"'Cash for Clunkers' Wins Over U.S. Drivers, Dealers"
Source: Reuters, 07/10/2009