August 4, 2009
Cash for Clunkers Car List and Which Cars are Eligible
There is a heated debate going on across the country on cash for clunkers. The bill that has stimulated the slumbering auto industry in the country is being furiously opposed by Republicans across the board.
I’ve got my own personal proof of this when I tried to tradein my 2006 Jeep Commander for a 2010 Jeep Wrangler. I was told the new car didn’t have good enough fuel economy ratings to be eligible for a Cash for Clunkers Voucher.
Congress passed the Automotive Stimulus package that gives consumers up to $4500 vouchers for the purchase of a new vehicle.
| Summary of Car Allowance Rebate System – Cash for Clunkers Voucher Qualifications | |||
| Min. Fuel Economy for New Vehicle | $3,500 Voucher | $4,500 Voucher | |
| Passenger Car | 22 mpg | Mileage improvement of at least 4 mpg | Mileage improvement of at least 10 mpg |
| Light-Duty Truck | 18 mpg | Mileage improvement of at least 2 mpg | Mileage improvement of at least 5 mpg |
| Large Light-Duty Truck | 15 mpg | Mileage improvement of at least 1 mpg or trade-in of a work truck | Mileage improvement of at least 2 mpg |
| Commercial trucks |
Trade-in must be at least pre-2002 | ||
Eligibility criteria for clunkers
* Vehicle must be less than 25 years old on the trade-in date.
* Only the purchase or 5 year minimum lease of new vehicles qualify.
* Generally, trade-in vehicles must get 18 or fewer MPG (some very large pickup trucks and cargo vans have different requirements).
* Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in.
* Trade-in vehicles must be in driveable condition.
* The program runs from July 1, 2009 until Nov 1, 2009 or when the funds are exhausted, whichever comes first.
* The program requires the scrapping of the eligible trade-in vehicle and that the dealer disclose to the customer an estimate of the scrap value of the trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
* Customers will pay state tax on the rebate.
Cash for Clunkers Car List Confusion
Some car shoppers are finding that their trade-in vehicles, which qualified for a Cash for Clunkers rebate last week, don’t this week because of changes in the EPA’s fuel economy ratings.
In some cases, car buyers say, dealers are backing out of sales they’ve already made because the EPA changed the fuel economy figures on their trade-in.
Hyundai Motor America has been helping its dealers close Cash for Clunkers deals since July 1 by providing them with cash advances equal to the expected CARS rebate, a Hyundai spokesman said. As of Friday, about 14% of Hyundai sales were Cash for Clunker deals, according to the automaker. Last month, Hyundai sold about 38,000 cars.
It is unclear if any of Hyundai’s deals so far were made ineligible by the changes, said Hyundai spokesman Phil Leinert, or how the automaker might deal with situations in which a car’s eligibility changed.
Brian Benstock, owner of Paragon Honda in New York City, said he’s done 33 Cash for Clunkers deals since July 1. So far, he said, he has had no problems because of altered fuel economy numbers.
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