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Car trade in allowance program

You don't need a clunker to cash in on government car incentive programs.

Kentucky's new, car trade in allowance program begins tomorrow, and Stacy Ellison has more on what you can save, and how.

Gary Settles sold his first ford back in 1979.

He says the recently ended cash for clunkers program and soon to be state new car trade in allowance have been the boost the auto industry needed.

The new program is set for September 1st.

Say you bought a $25,000 dollar new car and traded in your old one valued at $10,000, the vehicle usage tax, which is 6%, would be applied to the $15,000 dollars difference instead of the $25,000 dollar cost of the new car.

Settles doesn't expect the same crowds pulled by the cash for clunker program, but does anticipate some traffic.

$25 million dollars is set aside for the new car trade in allowance.

The program will continue until the money runs out.

stacy ellison wkyt 27 newsfirst.


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