CASH FOR CLUNKERS

Cash For Clunkers vouchers will be huge in bank approvals

CFC: You'll have to hurry

The federal government did not blink in giving billions of dollars in bank bailouts but the Cash For Clunkers program was originally funded for only $1 billion dollars.

It ran out of money in six days.

There's another $2 billion now available, but at $3,500 to $4,500 per voucher, how long do you think that will last? Smart money is betting through the end of August -- TOPS.

Bottom line: When it comes to Cash For Clunkers, be ready to move fast. When it comes to that very last step -- financing what you and the government money didn't cover -- we can help you get approved.

Let's skip the hype and get right down to what's important to a bank making a loan approval decision -- the ratio of the amount of the loan to the value of the car.

Just a few years ago, borrowing 95 percent of the car value was routine. Now, in the wake of the credit crunch, the average downpayment is more like 12 percent.

Just imagine how your chance of approval goes up if your downpayment is instantly $3,500 to $4,500 more! Imagine how your payment will go down!

To qualify for a voucher, your vehicle must be rated at 18 mpg or less, and your new vehicle must get 22-to-28 mpg. For all the details, visit www.cars.gov, or go straight to where you can see which vehicles qualify for cash for clunkers.

HERE'S WHY IT"S A GOOD IDEA TO COMBINE CARLOAN.COM AND CASH FOR CLUNKERS. Seeing an auto dealer on an appointment basis, financing in progress, changes everything.

At a time when dealers are swamped with "ups" just showing up on a lot, by working through us, you'll be able to set an appointment at a time of your own convenience, and the finance department people will have your information ready to roll. How sweet is that? Goverment money and great service to boot! Click here!