Clunker Bill
The Cash For Clunkers Bill 2009
The Cash For Clunkers Bill 2009, otherwise known as the Clunker Bill will provide a voucher for cash off the price of a new car or truck that is more fuel efficient than the car or truck you may now be driving. The Clunker Bill is being pushed by the auto industry and car dealers to assist the struggling auto industry. The Cash For Clunkers Bill would provide car shoppers with a cash voucher worth $3500 or $4500 depending on the gas mileage of the new vehicle. The buyer would need to turn in a vehicle rated at 18 MPG or less and buy one getting 22 MPG or greater. Pickup trucks and SUV's would be eligible but would have a different standard to obtain the Cash For Clunkers Voucher. The clunker bill would cost about $4 Billion dollars but would send in cash direct to the struggling car dealers.
UPDATE The Cash For Clunkers program was suspended 7/30/2009 due to fears that the program would be out of money. The government allocated an additional 2 billion in cash for clunker funding on 7/31/2009.
Clunkers Not Fuel Efficient
To be eligible for the Cash For Clunkers credit voucher you must trade in your car or truck that has been in use and registered for at least one year. You must get 18 MPG or fewer with that vehicle and buy a new car or truck $45,000 or less and get 4 MPG or more better than your old clunker. Trucks and SUV's must also get 18 MPG or less. The new truck only needs to get 2 MPG better but your cash voucher is just $3500 vs. $4500 with cars. The exception is if the new truck or SUV gets 5 MPG better you get the full $4500 voucher. You can combine your Cash For Clunker voucher with any other offer or sale the car dealer may be having at the time. The government is now voting on the Cash For Clunkers bill which passed and is now law. The government website for the Cash For Clunkers 2009 program is FuelEconomy.Gov