The program is meant to encourage consumers to trade in older, less fuel- efficient vehicles for new vehicles that get better fuel economy by providing a credit worth up to $4,5. Modeled after several programs that have already been successfully implemented in Europe, the program is expected to begin on July 2. November 1, 2. 00. Though final details of the program are still being hashed out by the folks at the National Highway Traffic Safety Administration (NHTSA), below are details of the Cash for Clunkers program as we know them today. The program would offer a credit that allows consumers to save from $3,5. There are also various credits for trucks and work trucks. The program divides cars, trucks, SUVs and minivans into several categories, in most cases based on weight and size of the wheelbase. Vehicles that are traded in are to be crushed, not resold, and the sticker price of the replacement vehicle they purchase is not to exceed $4. Miles- per- gallon figures below refer to the EPA's ? If the mileage of the new car is at least 4 mpg higher than the old vehicle, the credit will be worth $3,5. If the mileage of the new car is at least 1. Category 1 Trucks: These are all SUVs (Chevy Tahoe, Toyota RAV4), minivans (Dodge Caravan) and small pickup trucks such as the Chevy Colorado and Toyota Tacoma. The old vehicle you would like to trade in must have been made in 1. If the mileage of the new vehicle is at least 2 mpg higher than the old vehicle, the credit will be worth $3,5. If the mileage of the new car is at least 5 mpg higher than the old vehicle, the credit will be worth $4,5. Category 2 Truck: These are full- size pickup trucks such as the Ford F- 1. Toyota Tundra, and full- size vans such as the Ford Econoline. Versions of these trucks and vans that earn an EPA combined rating of 1. If the mileage of the new truck is at least 1 mpg higher than the old truck, the credit will be worth $3,5. If the mileage of the new truck is at least 2 mpg higher than the old truck, the credit will be worth $4,5. Category 3 Truck: These are full- size heavy- duty work trucks such as the Ford F- 3. F- 4. 50, etc. Under the agreement, consumers can trade in a pre- 2. Gross Vehicle Weight Rating from 8,5. There will be a finite number of these credits, based on this vehicle class' market share. There are no EPA mileage measures for these trucks; however, because newer models are cleaner than older models, the age requirement ensures that the trade will improve environmental quality. In general, if the improvement in fuel economy between your old car and the car you buy is 1. EPA), the maximum credit will be $4,5. CARS Program Transaction Data and Reports. Active enforcement actions were transferred to the applicable Federal and/or State law enforcement agencies, and any future CARS enforcement actions will be handled by these entities. Cash for Clunkers Program. Did you know that you could receive cash from the government for trading it in to purchase a more energy efficient model in. It is an advertisement for “ Cash for Clunkers,” the Federal program that got a $2 billion increase last week after it proved far more. The Clunkers program appears to be designed at least as much for. About Cash for Clunkers. Currently in 2016 the Cash for Clunkers (CARS) federal funding has been depleted. California Cash for Clunkers Program Renewed for 2016. The requirement for improvement in fuel economy for SUVs, pickup trucks and minivans is lower. For specifics, see above. How will you get the money toward the trade- in? About 1. 0 days later, the eligible amount would be credited as all or part of the down payment on a qualifying new car. Can the credits be combined with other manufacturer incentives? In some cases this will dramatically lower the purchase price of the vehicle. How old does my car need to be? For work trucks, however, any model built before 2. We anticipate that most cars traded in will likely be model- year 2. What types of vehicles qualify? Although knowledge of, and opinions about, the Cash for Clunkers program abounded, questions remained. What was the Cash for Clunkers program? The Car Allowance Rebate System (CARS), colloquially known as 'cash for clunkers', was a $3 billion U.S. Don't Let This Opportunity Pass! This is not a government website and is not in any way part of the Federal Cash For Clunkers program. Cash for Clunkers Program. On July 1, 2009 to Federal Car Allowance Rebate System (CARS) kicked off. What quickly became known colloquially as the Cash for Clunkers program, CARS was a $3. Though the federal cash for clunkers program was controversial in terms of economic utility, it offers some interesting economic tidbits on consumer behavior and on upgrading the fuel efficiency of the automotive fleet in the. This means that many American- made cars and trucks will be eligible for a credit toward the purchase of new vehicles. The categories of vehicles that will qualify fall into four classes: passenger cars, Category 1 (small pickups/SUV/minivan), Category 2 (full- size pickups and vans) and Category 3 (work trucks with a GVWR between 8,5. What kind of mpg will the new vehicle need to get? In passenger cars, if mileage is improved by 1. The mileage improvement levels and credit amounts for the different classes of trucks are listed above. If I trade in a car, truck or SUV, am I obligated to buy the same type of vehicle? The new vehicle must have the improved mpg requirements to qualify. If you refer to our above chart, you can easily see the requirements per vehicle class. You've decided that you want a smaller car. When you look for a new passenger car, you must find a vehicle that improves on the mpg by 4 or 1. It must fulfill both requirements. In this scenario, any new passenger car that gets 2. If you want to qualify for the maximum $4,5. The program can also work if you want to get into a slightly larger vehicle. For example, a 1. Chevrolet Camaro with the V8 engine gets about 1. You could purchase a Category 1 truck or SUV that gets 2. If you want the $4,5. SUV that gets 2. 5 mpg (2. Chevrolet Equinox, 2. Ford Escape Hybrid, 2. Mazda Tribute Hybrid, to name a few). Category 2 trucks can be traded in for a Category 1 or a passenger car as long as it meets both mpg requirements. A Category 3 work truck can only be traded for a Category 2 truck or another Category 3 truck, not a passenger car. Can I trade in more than one vehicle to get multiple credits? Regardless if an eligible vehicle has joint registered owners, a single credit will be issued. Also, you cannot combine credits. Only one credit can be applied to the purchase of a new vehicle. Is there a time limit or cap on the number of vehicles? Unless additional funding is provided, the program will expire by November. Since there is a funding limit, consumers who are interested in taking advantage of this program should contact a participating dealer as soon as funds become available (this will likely be after July 2. There is a special provision in the bill that requires that no more than 7. How long do I need to have owned the vehicle I'm trading in? This program is completely voluntary. What happens to the car that you trade in? The entire vehicle will be crushed or shredded so that the car does not end up on the road again. How will this affect used- car values? However, our analysts don't expect this program to drastically affect used- car values. Where do I find the mpg numbers to see if my vehicle qualifies for the Cash for Clunkers credit? This is a combination of the highway and city mileage for vehicles. Models prior to 2. This information can be found on the window sticker of the car or at
Car Allowance Rebate System (federal Cash for Clunkers program)The CAR Allowance Rebate System (CARS) is a $1 billion government program that helps consumers buy or lease a more environmentally- friendly vehicle from a participating dealer when they trade in a less fuel- efficient car or truck. The program is designed to energize the economy; boost auto sales and put safer, cleaner and more fuel- efficient vehicles on the nation's roadways. Consumers will be able to take advantage of this program and receive a $3,5. Is the payment of the incentive to the dealer treated as a trade- in allowance that reduces the amount of retail sales tax? Read our Special Notice . Proof of registration must be obtained through Department of Licensing (DOL).“The registration you carry in your car doesn’t prove how long you’ve owned the car,” said Alan Haight, Deputy Director of the Department of Licensing. Questions about obtaining proof of registration can be directed to 3. More information about Cash for Clunkers is available at www.
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