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The Car Allowance Rebate System ( CARS ), colloquially known as " cash for clunkers ", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel-efficient vehicle when trading in a less fuel-efficient vehicle. The program was promoted as a post-recession stimulus ...
Buy here, pay here. In the used car market in the United States and Canada, buy here, pay here, often abbreviated as BHPH, refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. [ 1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have ...
Staged crash. A staged crash, or crash for cash is when criminals maneuver unsuspecting motorists into crashes in order to make false insurance claims. The cars generally suffer little damage in relation to the large demand that is then fraudulently submitted. According to the Coalition Against Insurance Fraud, staged car crashes are a growing ...
Actual cash value (ACV) ACV is used to determine how much of a payout you will receive for a totaled vehicle. It is determined by the replacement cost of your vehicle minus depreciation, which ...
Demand for vehicles, however, has not dropped, leading to skyrocketing prices for used cars. From 2020 to 2021, prices on Shift’s platform went up nearly 40%, from around $16,400 to a nearly ...
Fisker has a willing buyer for its remaining inventory of all-electric Ocean SUVs, and has asked the Delaware Bankruptcy Court judge overseeing its Chapter 11 case to approve the sale. If approved ...
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