Planning, Economic Development, & Public Health News

Headline: Cash for Clunkers – How to Qualify for a Rebate

Date: Updated 8.3.2009

Source: US News & World Reports

Excerpt: What Qualifies. & What To Do Next. Below.

“What Qualifies.”

“When it comes to Cash for Clunkers, both the car you’re turning in and the new car you’re buying need to qualify for the program. Under the program rules, old cars must be less than 25 years old (that means if your car was built before 1985, you’re out of luck). When it was new, it needed to have a combined EPA-estimated fuel economy of 18 miles per gallon or less. The EPA estimate must be based on the newer fuel economy ratings that the EPA instituted in 2008, NOT the fuel economy ratings on the car’s original sticker. It must be in running condition and registered to you for at least one year.  The EPA recently updated its ratings on some old cars, making some that were eligible for the program just a few days ago now ineligible.  Before you hit the dealership, make sure you check your old car’s fuel economy rating on the EPA’s website.”

“If your old car meets these requirements, start shopping for a qualified new car.  In order to qualify for the voucher, you need to buy or lease a new car — used cars aren’t eligible for purchase under the program. If you’re leasing, the lease must run for at least five years. The new car can be of any make, foreign or domestic, but it must have a base MSRP less than $45,000, though options can drive the final price over $45,000. If you’re buying a new car, it must have a combined EPA fuel economy rating of 22 miles per gallon or more.  If you’re looking to buy a compact truck or SUV, the combined EPA fuel economy rating must be at least 18 miles per gallon.  If you want a full-size truck or SUV, it must have a combined fuel economy rating of 15 miles per gallon or better.”

Author: Jamie Page Deaton