CASH for JUNKERS RULES & FAQ’s
1. You must buy a NEW CAR. Any brand. Can’t exceed $45k selling price.
2. The dealership you use must be registered. Registration does NOT begin ‘til JULY 24th.
3. You must buy a car getting better fuel economy than your old car.
4. Your TRADE-IN must have a “new” combined city/highway fuel economy of 18 miles per gallon or less.
5. Your TRADE-IN must be in drivable condition. No word YET on SALVAGE, REBUILT or TOTALLED vehicles.
6. Only one trade credit per person(s) registered to the trade-in.
7. You get to take either the Junker credit or trade-in value, not both.
8. Your TRADE-IN must have been manufactured less than 25 years before the date you trade it in.
9. Your TRADE-IN must be continuously insured and registered to the same owner for the full year preceding the trade-in.
10. Your TRADE-IN 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
11. Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.
12. CARS Hotline at (866)-227-7891 M-F 9-5pm EST
13. NHTSA GAS INFO: CLICK HERE For the 2009 Fuel Economy Guide.
14. WHAT VALUE CAN YOU GET FOR YOUR CAR, VAN, SUV, TRADE-IN?
The value of the credit given for the purchase or lease of a category 1 or 2 truck also generally depends on the difference between the combined fuel economy of the vehicle that is traded in and that of the new vehicle that is purchased or leased. If the new vehicle is a category 1 truck that has a combined fuel economy value that is at least 2, but less than 5, miles per gallon higher than the traded-in vehicle, the credit is $3,500. If the new category 1 truck has a combined fuel economy value that is at least 5 miles per gallon higher than the traded-in vehicle, the credit is $4,500.
If both the new vehicle and the traded-in vehicle are category 2 trucks and the combined fuel economy value of the new vehicle is at least 1, but less than 2, miles per gallon higher than the combined fuel economy value of the traded in vehicle, the credit is $3,500. If both the new vehicle and the traded-in vehicle are category 2 trucks and the combined fuel economy of the new vehicle is at least 2 miles per gallon higher than that of the traded-in vehicle, the credit is $4,500. A $3,500 credit applies to the purchase or lease of a category 2 truck if the trade-in vehicle is a category 3 (work) truck that was manufactured not later than model year 2001, but not earlier than 25 years before the date of the trade in.
WORK TRUCKS: A work truck, which is called a category 3 truck under the CARS Act, is subject to special rules. Work trucks are not rated for fuel economy by the EPA. Thus, the eligibility of work trucks for the program does not depend on combined fuel economy. Instead, work trucks may only be traded in under the program if they were manufactured not later than model year 2001 and not earlier than 25 years before the date of the trade in. In addition, work trucks may only be traded in for the purchase of a category 2 truck or another category 3 truck that is of similar size or smaller than the traded-in vehicle. Finally, the Act provides only for a $3,500 credit for trading in a work truck.
The CARS Act limits the amount of funds that can be used to provide credits for purchases or leases of work trucks. Only 7.5 percent of the funds appropriated for the program may be used for credits for work trucks. Once that limit is reached, NHTSA will stop making payments for these transactions. NHTSA will keep the public informed as to the funds that remain available for these credits.
WANT TO READ MORE ABOUT CASH FOR CLUNKERS & JUNKERS CLICK HERE: or HERE: https://www.mycarlady.com/2009/07/03/cash-4-junkers
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Top learn more about getting your best car deal click here: CAR DEALS Sarah Lee is an automotive executive with 20+ years of experience. She writes about Cars, and is a staunch consumer advocate on car related subjects. Her company: MY CARLADY is a car buyer’s service committed to getting you the best deal on your next new or pre-owned vehicle. You can reach her at www.mycarlady.com]]>