Cash for Clunkers Updates and News (C.A.R.S. Consumer Assistance to Recycle and Save)
Update:
President Barack Obama has officially signed Cash for Clunkers into law as part of a larger defense spending bill today. The final version gives the Transportation Department 30 days to organize the rules and regulations for the program, and puts the burden of deciding which vehicles qualify squarely on the shoulders of dealers. Vehicles being traded in must be less than 25 years old, and their replacement must get 5 mpg better if it’s a truck, 10 mpg better if it’s a car. Again, dealers are responsible for having the older vehicles scrapped. The program should go live by the end of July
What is Cash for Clunkers??
Cash for Clunkers, is a federal program passed by Congress and expected to be signed into law by President Obama. The program would encourage consumers to trade in older, less fuel efficient vehicles for new vehicles that get better fuel economy by providing vouchers worth up to $4,500. Modeled after several programs that have already been successfully implemented in Europe.
Though final details of the program have yet to be established, below are broad aspects of the Cash for Clunkers program as we know them today. The program would offer vouchers that allow consumers to save from $3,500 to $4,500 on a new-car purchase, and there are also various credits for trucks and work trucks.
Many website have very conflicting dates and information about this program. We have started and email alert system that will email you any updates as they become available.
As a "Cash for Clunkers Participating Dealer" we will keep you informed of all the details and program rules as they become available.
In the mean time we have listed below the following sections; Summary of the program, Fuel Mileage Charts, What Hubert Vester Toyota Scion can do for you?, as well as a"Frequently Asked Questions" section. Hopefully this information will assist you in your research.
Submit form below to sign up for updates and to see if your vehicle will qualify
How will it work?
Hubert Vester Toyota Scion is participating in the US Government's Cash for Clunkers Bill (C.A.R.S. Program). As of July 24th, 2009 President Obama has signed the legislation and we are within 30 days of the program having all details laid out!
Hubert Vester Toyota Scion has the most fuel efficient up of new vehicles, so you've definitely come to the right place!
Example of a Cash for Clunkers qualifying scenario (as the bills sits today):
If you have a 1995 Dodge Caravan with 100,000 miles in good condition, your Caravan could be valued around $1,000. If you decided to purchase a Toyota Corolla or Scion XD then you could qualify for a $3,500 - $4,500 rebate from the government. The rebate would be given to Hubert Vester Toyota Scion, as a participating dealership, and you will be allowed to use the credit amount as the down payment for your new vehicle.
So...at Hubert Vester Toyota Scion we will help with your DMV work, getting applicable rebates from the vehicle's manufacturer, handling your loan, and working with the government to get your applicable Cash for Clunkers rebate too! You really don't have to do anything extra!....as the bill currently sits.
| Summary of Cash for Clunkers Agreement |
| |
Minimum Fuel Economy for New Vehicle |
$3,500 Voucher |
$4,500 Voucher |
| Passenger Car or minivan |
22 mpg (EPA combined) |
Mileage improvement of at least 4 mpg |
Mileage improvement of at least 10 mpg |
| Light-duty truck |
18 mpg (EPA combined) |
Mileage improvement of at least 2 mpg |
Mileage improvement of at least 5 mpg |
Large light-duty truck
(6,000-8,500 pounds) |
15 mpg (EPA combined) |
Mileage improvement of at least 1 mpg or trade-in of a work truck |
Mileage improvement of at least 2 mpg |
Work truck
(8,500-10,000 pounds) |
|
Trade-in must be at least pre-2002 |
Fuel mileage chart for New Toyota's
Toyota cars
|
Model |
MPG City |
MPG Highway |
MPG Combined |
Tank Size |
Combined Miles/Tank |
Tanks/Month (12,000 miles/year) |
Cost/Month @ $3/gal |
|
Avalon |
19 |
28 |
24 |
18.5 |
435 |
2.46 |
$136.53 |
|
Camry |
22 |
33 |
28 |
18.5 |
509 |
2.00 |
$111.00 |
|
Camry Hybrid |
33 |
34 |
34 |
18.5 |
620 |
1.59 |
$88.25 |
|
Camry Solara |
21 |
31 |
26 |
18.5 |
481 |
2.25 |
$124.88 |
|
Corolla |
26 |
35 |
31 |
13.2 |
403 |
2.53 |
$100.19 |
|
Matrix |
26 |
32 |
29 |
13.2 |
383 |
2.70 |
$106.92 |
|
Prius |
51 |
48 |
50 |
11.9 |
589 |
1.72 |
$61.40 |
|
RAV4 |
22 |
28 |
25 |
15.9 |
398 |
2.62 |
$124.97 |
|
Tacoma |
20 |
26 |
23 |
21 |
483 |
2.16 |
$136.08 |
|
Venza |
21 |
29 |
25 |
17.7 |
443 |
2.35 |
$124.79 |
|
Yaris |
29 |
36 |
33 |
11.1 |
361 |
2.82 |
$93.91 |
|
Model |
MPG City |
MPG Highway |
MPG Combined |
Tank Size |
Combined
Miles/Tank |
Tanks/Month (12,000 miles/year) |
Cost/Month @ $3/gal |
|
4Runner |
16 |
21 |
19 |
23 |
426 |
2.42 |
$166.98 |
|
FJ Cruiser |
17 |
21 |
19 |
19 |
361 |
2.92 |
$166.44 |
|
Highlander |
20 |
27 |
24 |
19.2 |
451 |
2.26 |
$130.18 |
|
Highlander Hybrid |
27 |
25 |
26 |
19.2 |
499 |
2.00 |
$115.20 |
|
Tacoma |
20 |
26 |
23 |
21 |
483 |
2.16 |
$136.08 |
Scion models
|
Model |
MPG City |
MPG Highway |
MPG Combined |
Tank Size |
Combined Miles/Tank |
Tanks/Month (12,000 miles/year) |
Cost/Month @ $3/gal |
|
tC |
21 |
29 |
25 |
14.5 |
363 |
2.87 |
$124.85 |
|
xB |
22 |
28 |
25 |
14 |
350 |
2.98 |
$125.16 |
|
xD |
27 |
33 |
30 |
11.1 |
333 |
3.11 |
$103.56 |
Frequently Asked Questions
5 Important Things to Know
§ Your vehicle must be less than 25 years old on the trade-in date
§ Only purchase or lease of new vehicles qualify
§ Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
§ Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
§ You don't need a voucher, dealers will apply a credit at purchase
What is the Car Allowance Rebate System?
The Car Allowance Rebate System is a new program from the government that will help you pay for a new, more fuel efficient car or truck from a participating dealer when you trade in a less fuel efficient car or truck.
Do I need to get a voucher or sign up for this program?
No. You do not need a voucher and you are not required to sign up or enroll in this program. Participating new car dealers will apply a credit, reducing the price you pay at the time of your purchase or lease, provided the vehicle you buy or lease and the vehicle you trade in meet the program requirements. The dealer will then obtain reimbursement from the government.
How do I know if a dealer is participating in the program?
The law requires dealers to be registered to participate in the program.
How do I know if my car or truck is an eligible trade-in vehicle?
There are several requirements (but you also have to meet certain conditions for the car or truck you wish to buy). We can help you determine whether you have an eligible trade in vehicle by submitting your information in the contact form on this page.
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
Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.
How do I find out when my vehicle was manufactured?
The month and year of manufacture (e.g., 1-96 (January 1996)) appear on the safety standard certification label that is located on the frame or edge of the driver’s door in most vehicles.
How do I find out the combined city/highway fuel economy rating of my trade-in vehicle?
Go to http://www.fueleconomy.gov/feg/sbs.htm and click on the model year of your vehicle, the make, and then the model. Under the words "ESTIMATED NEW EPA MPG" in the red banner, there is a red number with the word "COMBINED" under it. That is the new combined city/highway fuel economy for your vehicle. You may then enter the make, model, and model year of a new vehicle you may want to buy and see its combined MPG for comparison.
Does the program apply if I want to lease a vehicle, or must I purchase a vehicle?
Under the program, you may purchase a new vehicle or lease a new vehicle, provided the lease period for the new vehicle is at least five years.
Is there a cap on the price of the vehicle I can buy or lease under the program?
Yes. The manufacturer's suggested retail price cannot exceed $45,000.
Does the program apply if I want to buy a used car?
No. The program does not apply to the purchase of used vehicles.
What is the amount of the credit?
The amount of the credit is $3,500 or $4,500, and generally depends on the type of vehicle you purchase and the difference in fuel economy between the purchased vehicle and the trade-in vehicle. Different requirements apply for work trucks.
In addition to the credit, will I get the full value of my trade-in vehicle?
No. The law requires your trade-in vehicle to be destroyed. Therefore, the value you negotiate with the dealer for your trade-in vehicle is not likely to exceed its scrap value. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle.
I don’t drive an American car but I would like to trade in my old car for a newer, more fuel efficient one. Is this program only for American cars?
No. You may trade in or buy a domestic or a foreign vehicle.
I have a truck and I cannot find its fuel economy rating. Is it an eligible trade-in vehicle?
Maybe. Some trucks, such as work trucks, were never rated for fuel economy. For these trucks, age is the only criterion for determining whether they are eligible trade-in vehicles. If you have one of these trucks, it must be from model year 2001 or earlier, but also the date of manufacture must be less than 25 years from the date you trade it in, to be an eligible trade-in vehicle. Other restrictions may also apply.
I just traded in my old car for a new vehicle last month. Will I get some money back?
No. The program does not apply retroactively.
*** The information on this page has been written to inform all visitors with the latest news regarding the C.A.R.S. program. Information on this page has been gathered from informational and government sites. Hubert Vester toyota scion does not warrant or guarantee any information above as the final program details and incentives have not been released.
