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Greater NY Auto Dealers Launch Cash for Clunkers Consumer Guide


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"Consumers Should Buy Now Before the Money Runs Out"

SEE ALSO: "Cash For Clunkers" Consumer Guide

New York, NY July 21, 2009: "The Cash for Clunkers program is a tremendous incentive to encourage people to trade-in their old vehicles for newer, safer, more fuel efficient and less polluting cars and trucks, but they must act fast before the money runs out, " said Mark Schienberg, president of the Greater New York Automobile Dealers Association (GNYADA). To help consumers navigate the Government's Cash for Clunkers program GNYADA has published a consumer guide which will be available at all area dealerships or online at www.gnyada.com/guide/cars.

"This money is only available for a limited time so it is critical that New Yorker's take advantage of it now. Once the money runs out there is no more!" he continued.

"The success of similar programs in Europe has shown that this is an important measure in helping to kick-start new car sales which will ultimately help to stimulate the economy and create new jobs in communities across our area," said Schienberg.

Key elements of the program are:
* The $1 billion program is authorized from July through November
* It will provide for rebates of between $3,500 and $4,500 when consumers trade in a vehicle toward the purchase of a new qualifying model.
* There is no income limitation for the rebate but the maximum purchase price is $45,000.
* The vehicle that is traded in will have to be scrapped.

The measure is expected to help boost auto sales by creating a significant cash incentive to replace older cars and trucks with newer, higher mileage, less polluting vehicles.

About the Greater New York Automobile Dealers Association (GNYADA)
GNYADA is a not-for-profit organization representing 650 franchised automobile dealerships in the metro area of New York, which sell more than 800,000 cars each year. Its members generate over $1 billion for state and local governments and employ approximately 52,000 individuals (directly and indirectly) in metro New York. GNYADA also owns and operates the Center for Automotive Education & Training (CAET) in Whitestone, Queens.