Tuesday, July 21, 2009

Beware of Cash for Clunkers Scams

Clunker There will never be a shortage of people out there trying to take advantage of new programs or trends, according to Ohio Attorney General Richard Cordray. The new Cash for Clunkers program, officially known as CARS, is no exception.

Cordray is already aware of a number of scammers and imposters setting up websites to take advantage of people trying to earn a $3,500 or $4,500 rebate by turning in their old, inefficient cars. The sites ask consumers to “preregister” and provide their Social Security numbers.

It goes without saying: Do not do this. Sites that promise to put you in touch with authorized dealers in your area are likewise malarkey.

The National Highway Traffic Safety Administration notes that the rules of CARS are clear: There is no need to register to participate. Dealers will apply the credit you earn from your clunker at the time you purchase your new car.

If you want more information from a reliable source, check out Cars.com’s Cash for Clunkers Guide.

New CARS Program Giving Rise to Scams (Akron Beacon Journal)

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