“Cash for Clunkers” was included in the Supplemental Appropriations Act of 2009 (H.R. 2346) … it should help … reduce greenhouse gas emissions, our dependence on oil, and stimulates new-vehicle sales to help our economy … people who trade in a vehicle made in 1984 or later that gets 18 miles per gallon or less can get a taxpayer-financed voucher to buy a new vehicle getting better gas mileage
- Passenger cars must get at least 4 mpg better milage for a $3,500 voucher or 10 mpg better for a $4,500 voucher
- Light trucks and SUVs, must get at least 2 mpg better milage for a $3,500 voucher or 5 mpg for a $4,500 voucher
- Pick-ups and vans weighing between 6,000 and 8,500 pounds (the new vehicle must get at least 15 mpg) the voucher is $3,500 for new vehicles getting at least 1 mpg better than the old one or $4,500 for 2 mpg or better.
Mileage requirements are EPA combined city/highway mpg as posted on window stickers or at http://www.fueleconomy.gov.
To qualify, the new vehicle must .. “be purchased or leased between July 1 and November 1, 2009” … trade in must go to a participating dealer … the dealer must agree to scrap the clunker but can sell parts except for engine blocks and drive trains … trade-in vehicles must be “drivable” and “continuously insured and registered to the same owner for at least one year”
Once President Obama signs the bill, the administration has 30 days to publish a website that includes complete guidelines for determining eligible trade-ins, details on participation and a list of new vehicles that meet program requirements …