Congress just passed the "Cash for Clunkers" program which offers government incentives to trade-in older gas guzzlers for new more energy efficient vehicles. For your car or truck to qualify for the cash for clunkers government program it must meet the following criteria:
- Must have a combined MPG of 18 or less.*
- It must be in drivable condition.
- Manufactured in model year 1984 or later.
- Has been continuously insured consistent with State laws and registered to you for at least one year immediately prior to trade-in.
* Combined MPG is a blend of highway and city MPG. To determine your cars combined MPG you can look it up at: fueleconomy.gov
Under the program owners could get vouchers starting at $3,500 if they trade-in a vehicle that gets 18 mpg or less for a new vehicle that gets 22 mpg or better. The incentive grows to $4,500 if they trade in their 18 mpg or less vehicle for a new vehicle that gets 10 or more mpg over their old vehicle.
When Does Cash for Clunkers Start:
It was just passed by Congress on June 18, 2009 and is headed to the White House for signature by the President. Once signed by the President it is estimated to take up to 30 days for the Department of Transportation to get the program up and running so we are looking at early August as a start date.
My parents have been waiting to take advantage of the new Cash for Clunkers legislation. They have a 1994 Chrysler LHS that they are looking to trade-in on a new car. Unfortunately, when we looked up the combined MPG for the LHS it came to 19, just 1 mpg over the requirement. ugh!!
Congress just passed the "Cash for Clunkers" program which offers government incentives to trade-in older gas guzzlers for new more energy efficient vehicles. For your car or truck to qualify for the cash for clunkers government program it must meet the following criteria: