NEWSROOM
DMV Gives Trade-in Credit for Clunkers
August 10, 2009
The Division of Motor Vehicles (DMV) announces that new vehicles purchased in the Federal Government's Car Allowance Rebate System - commonly called Cash For Clunkers - can have the clunker value deducted from the purchase price of the new vehicle before calculating the document fee.
Example:$20,000 for new car - $4,500 for clunker = $15,500 new car price, so doc fee = $15,500 x 3.75%.
