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The well-known Cash for Clunkers plan, a heavily-debated government program, was started in 2009 to jump start the ailing automotive industry during the financial crisis. Customers showed great reaction to the program trading in gas-guzzling used vehicles for small, new, fit, and fuel-sipping counterparts. This program took millions of new cars out of circulation which, in return, are now affecting the used car markets today.
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