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HOW MUCH MILEAGE CAN YOU GET OUT OF 'CLUNKERS'?

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Saturday, August 1, 2009

What's a clunker?

To qualify for the government's Car Allowance Rebate System, trade-ins must be less than 25 years old and get less than 18 miles per gallon (though rules differ for large pickup trucks and cargo vans).

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How much is the rebate?

Vehicle owners can get a credit of $3,500 or $4,500 toward the purchase of a new car. The credit depends on what you buy and the difference in mileage between the new vehicle and the trade-in.

How do I figure out my mileage?

Go to http://www.fueleconomy.gov/feg/sbs.htm and find your trade-in's year, make and model.

How long will the offer last?

It ends Nov. 1 or earlier if funds run out. Congress is considering more money for the program.

What happens to my trade-in?

It must be disabled and scrapped. Dealers can charge $50 to scrap it, but you get any scrap value.

Where can I find more information?

Go to http://cars.gov.

SOURCE -- U.S. DEPARTMENT OF TRANSPORTATION


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