Cash for Clunkers Ending

Cash for Clunkers Ending. Yes, U.S. Transportation Secretary Ray LaHood said on Thursday that the Cash for Clunkers program will be over on Monday. What's the main reason why it will end on Monday? It's two words: clunky bureaucracy. Car dealers are finding it difficult to get the money the US government has allocated. It can be remembered that in the first two weeks of the program, the $1 billion allocation was immediately depleted.

Here's what U.S. Transportation Secretary Ray LaHood said in a news release:

“This program has been a lifeline to the automobile industry, jump-starting a major sector of the economy and putting people back to work. At the same time, we’ve been able to take old, polluting cars off the road and help consumers purchase fuel efficient vehicles.”

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Cash for Clunkers Voucher

CARS.gov announced yesterday that the Cash For Clunkers Voucher program is already available. This program allows car traders to get a voucher documentation if the purchaser's desired car is not in the lot and in the pipeline. In other words, it is now possible for car purchasers to order vehicles that aren’t in stock at a dealership using a voucher. People will now be able to get the car that they really want using the Cash for Clunkers rebate. Here is exactly how it is stated in the program :

"NHTSA has clarified that consumers who want to purchase new vehicles not yet on dealer lots can still be eligible for the CARS program. Dealers and consumers who have reached a valid purchase and sale agreement on a vehicle already in the production pipeline will be able to work with the manufacturer to receive the documentation needed to qualify for the program."

I don't know why it is called Cash for Clunkers voucher when in fact if you read the information in the program carefully, you will see that it is "documentation needed to qualify for the Cash for Clunkers program." You do not need a voucher when you apply for the program; dealers will just apply a credit at purchase.

Cash for Clunkers will run until November 1 so have quite a lot of time to grab a new car.

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Cash for Clunkers Toyota

25 Toyota vehicles qualify for the Cash fo Clunkers program. Here is the list of Cash for Clunkers Toyota qualifying cars :

Toyota
* Avalon
* Camry
* Camry Hybrid
* Corolla
* FJ Cruiser
* Highlander
* Highlander Hybrid
* Matrix
* Prius
* Sienna
* Solara
* RAV4
* Tacoma
* Tundra
* VENZA
* Yaris
* 4Runner

Scion
* tC
* xB
* xD

Lexus
* ES 350
* GS 350
* IS 250/C
* RX 350
* RX 450h

There are 25 vehicles within the Toyota family that qualify for Cash for Clunkers. Choose among 17 available Toyota car, truck, SUV and hybrid models, five available Lexus models, or select from Scion's full lineup of vehicles. Learn more about the vehicles by clicking on a link below. Vehicles equipped with certain options may not qualify for the Cash for Clunkers program.

Learn more about this here.

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Cash for Clunkers Requirements

Here is the Cash for Clunkers Requirements and Procedures for Consumer Assistance to Recycle and Save Program :

Source: U.S. Department of Transportation

This final rule sets forth requirements and procedures for the voluntary vehicle trade-in and purchase/lease program under the Consumer Assistance to Recycle and Save Act of 2009. This program helps consumers pay for a new, more fuel efficient car or truck from a participating dealer when they trade in a less fuel efficient car or truck. The rule establishes a process by which dealers can register in order to participate in the program and establishes the criteria this agency will use to determine which disposal facilities are eligible to receive and either crush or shred the trade-in vehicles. It also sets forth the criteria that trade-in vehicles and new vehicles must meet in order for purchases and leases to qualify for assistance under this program and establishes the requirements that must be met by consumers, dealers, disposal facilities and others. Finally, the rule sets forth enforcement procedures and provisions for punishing fraud and other violations of the program requirements.

You may also download a complete copy here.

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Cash for Clunkers Qualifying Cars

Yesterday there were reports that the Cash for Clunkers program is set to be suspended. But that will not happen anymore (at least for now) because the US government has increased the budget for the program from $1 billion to $2 billion. Reuters and the New York Times reported thata:

"The U.S. government will not suspend its $1 billion "cash for clunkers" auto sales incentive even though confirmed sales and pending transactions neared the limit of 250,000 vehicles much sooner than expected, an Obama administration official said on Thursday night.

And does your car qualify, you ask now? Here is a quick guide:

Your trade-in vehicle must

* have been manufactured less than 25 years before the date you trade it in
* have a “new” combined city/highway fuel economy of 18 miles per gallon or less
* be in drivable condition
* be continuously insured and registered to the same owner for the full year preceding the trade-in
* The trade-in vehicle must have been manufactured not earlier than 25 years before the date of trade in and, in the case of a category 3 vehicle, must also have been manufactured not later than model year 2001

Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.

So on with the program, and everyone's happy. And here's a complete list of Cash for Clunkers Qualifying Cars

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Cash for Clunkers Suspended

Cash for Clunkers Suspended. Not yet. The suspension will start Friday midnight. The program is suspended when it became obvious that the $1 billion allocated by Congress for it is quickly depleted. $1 billion is not enough. Auto dealers told the Wall Street Journal that they "will stop accepting cars for trade-in under the program until they are sure funds are available."

The National Automobile Dealers Association has released a statement:

We do not have confirmation yet of DOT suspending the clunkers program, but if the program is indeed suspended, NADA will continue to work with the Department of Transportation to emphasize the importance that every dealer is reimbursed for a valid deal. We will also work with the Obama Administration and members of Congress to meet the demonstrated consumer interest in the cash-for-clunkers program.

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Cash for Clunkers List

Just before the Cash for Clunkers official start date, it was somewhat fouled up. The Environmental Protection Agency upped the estimated fuel economy ratings on 78 vehicles and lowered ert on 86 other vehicles. This has caused a confusion, because many vehicles were suddenly made ineligible for the program and at the same time many other vehicles were also made eligible. People were confused because of the changes. But now the problem is resolved, the National Highway Traffic Safety Administration which manages the Clunkers program, has acknowledge the confusion caused by the EPA's changes and made an announcement Thursday that trade-ins made between July 1st and July 24th of vehicles that became ineligible after the fuel economy ratings switch will be allowed to keep their rebate.


Here's a link to the Cash for Clunkers List

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Cash for Clunkers Eligible Vehicles

If you are thinking about trading your old clunker for some cold cash which you cn use to buy a new car, it is good to see the list of Cash for Clunkers eligible vehicles. So here is a list of those vehicles, if your old clunky car's make is not in the list, I think you can't trade it for cash under this program.

Cash for Clunkers Eligible Vehicles

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