How To Take Advantage Of "Cash For Clunkers"

f?id=4a4933194b54375800847ebf

Still confused about how your old jalopy could be worth $4,000 towards the purchase of a brand new, fuel-efficient car?

Uncle Sam answers all your questions!

START >

Step One: Go To Cars.gov

First, go to the brand new government website, Cars.gov!

Step Two: Check If Your Eligible

Don't start spending that rebate money just yet! Make sure you're eligible by checking out this FAQ.

Step Three: Get Your Paperwork Together

You gotta get your ducks in a row. The government isn't just going to hand out $4,000 to anyone. Make sure you have your paperwork together.

Step Four: Take A Deep Breath

Relax. Breathe easy. The car dealer handles this part, as they send your info to the National Highway Traffic Safety Administration. Why are they handling it? Cause it's a government bureacracy, of course!

Step Five: Wait

All you gotta do is wait... wait for the NHTSA to approve your paperwork.

Step Six: Wait 10 Days

After 10 days of waiting, you get your $4,000 credit. Whoo-hoo! Now, what are you going to blow it on? A new grill? A new TV? A granite countertop? Whatever you do, don't pay down your credit card debt. That's not what the government wants to see.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.