>> Tuesday, August 4, 2009
If you are not sure if your old car qualifies for the Cash for Clunkers program, it is good to check out the list from Edmunds. The list is so complete and by the look of it, almost every other old clunker could qualify.
Here are some guidelines for qualifying:
* 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.
As to the Cash for Clunkers Car List I am talking about, just click the link. I could not post it here because it's too many.