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cash for clunkers 

Cash For Clunkers Program 2009


Under the Cash For Clunkers program, consumers may trade in their old, gas-guzzling vehicles and receive vouchers worth up to $4,500 to help pay for new, more fuel efficient cars and trucks.

Whether you buy a new or used vehicle, fuel efficiency--good gas mileage--is high on the list of most buyers' concerns. The difference between choosing a fuel-efficient car or one that guzzles gas, will either save or cost you money over the life of the vehicle, which could be substantial. Fuel efficiency varies widely from one car to the next.

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Fuel economy in a vehicle is the amount of gas required to move the vehicle over a certain distance.

EPA is responsible for providing fuel economy (gas mileage) data that is posted on the window stickers of new vehicles. These fuel economy estimates help consumers compare the fuel economy of different vehicles. EPA has also redesigned the fuel economy window sticker posted on all new cars to be easier to read and comprehend.

EPA has created new techniques to determine the City and Highway miles per gallon (MPG). The new techniques will bring the MPG estimates closer to the fuel economy consumers actually achieve on the road by taking into account conditions such as higher speeds, aggressive driving, cold temperature operation and use of air conditioning. This will give drivers a more accurate estimate of the fuel economy they are likely to achieve on the road.

You can find current EPA fuel economy data at fueleconomy.gov

 

Cash For Clunkers

 

 

The Car Allowance Rebate System (CARS), also known as Cash for Clunkers, allows drivers to trade in their older, less fuel efficient cars, trucks and SUVs for a cash voucher that can be used to purchase a new, more efficient vehicle. The program is expected to encourage the early retirement of up to 1 million vehicles.

The Cash for Clunkers program divides eligible new cars and trucks into four categories; miles per gallon figures refer to Environmental Protection Agency (EPA) window sticker values:

 

  • Passenger Cars
    • The old vehicle must get 18 mpg or less.
    • New passenger cars with mileage of at least 22 mpg are eligible for vouchers.
    • If the mileage of the new car is at least 4 mpg higher than the old vehicle, the voucher will be worth $3,500.
    • If the mileage of the new car is at least 10 mpg higher than the old vehicle, the voucher will be worth $4,500.
  • Light-Duty Trucks
    • The old vehicle must get 18 mpg or less.
    • New light trucks or SUVs with mileage of at least 18 mpg are eligible for vouchers.
    • If the mileage of the new truck or SUV is at least 2 mpg higher than the old truck, the voucher will be worth $3,500.
    • If the mileage of the new truck or SUV is at least 5 mpg higher than the old truck, the voucher will be worth $4,500.
  • Large Light-Duty Trucks (pick-up trucks and vans weighing between 6,000 and 8,500 pounds)
    • New large trucks with mileage of at least 15 mpg are eligible for vouchers.
    • If the mileage of the new truck is at least 1 mpg higher than the old truck, the voucher will be worth $3,500.
    • If the mileage of the new truck is at least 2 mpg higher than the old truck, the voucher will be worth $4,500.
  • Work Trucks (pick-up trucks and vans weighing between 8,500 and 10,000 pounds)
    • There are no EPA mileage measures for these vehicles. However, because newer models are cleaner than older models, an age requirement ensures that the trade improves environmental quality.
    • Pre-2002 work trucks can receive a voucher worth $3,500 for a new truck in the same or smaller weight class.

The number of vouchers is limited to one per customer, including joint registered owners of a single eligible trade-in vehicle. In addition, the voucher cannot be applied to the purchase of used vehicles.

 

Chairman Henry A. Waxman, Subcommittee Chairman Edward J. Markey, Chairman Emeritus John D. Dingell, Congresswoman Betty Sutton, Congressman Jay Inslee, and Congressman Bart Stupak reached an agreement on a "Cash for Clunkers" program that will help the auto industry while cleaning our air. This agreement is based on H.R. 1550,introduced by Congresswoman Sutton, and H.R. 520, introduced by Congressman Inslee.

Under the Cash For Clunkers program, consumers may trade in their old, gas-guzzling vehicles and receive vouchers worth up to $4,500 to help pay for new, more fuel efficient cars and trucks. The program will be authorized for up to one year and provide for approximately one million new car or truck purchases. The agreement divides these new cars and trucks into four categories. Miles per gallon figures below refer to EPA “window sticker” values.

Here are the important things to remember:

Your vehicle must be less than 25 years old on the trade-in date


Only purchase or lease of new vehicles qualify


Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)


Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in


You don't need a voucher, dealers will apply a credit at purchase


Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.


The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.



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