WASHINGTON – Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.
The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.
The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.
Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns of large backlogs in the system, prompting the suspension.
UPDATE (July 23, 2009)
Chrysler LLC announced the Double Ca$h For Your Old Car incentive program.
FOR YOUR OLD CAR CHRySleR GRoup llC offeRS NeW “Double CA$H foR youR olD CAR” INCeNtIve pRoGRAm Here’s how it works: Every consumer qualifies to receive up to $4,500 for the purchase of an eligible, new 2009 Chrysler, Jeep or Dodge vehicle ® $4,500 + Consumers with a CARS eligible trade-in can receive a government credit of either $3,500 or $4,500 for the purchase of an eligible new vehicle $4,500 CARS FREQUENTLY ASKED QUESTIONS Legislation has been enacted offering car buyers a $3,500 or $4,500 rebate between July 24 and November 1, 2009, for trading in an old, inefficient vehicle for one that’s new and more fuel efficient. What is the Car Allowance Rebate System (CARS)? The Car Allowance Rebate System (HR 2751— Consumer Assistance to Recycle and Save Act) 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 a less fuel efficient car or truck is traded in. Government officials and the news media have often referred to this legislation as “Cash for Clunkers.” How does CARS work? 1. Determine if you qualify at the cars.gov Web site; then shop for a new car. 2. Bring the title, registration and insurance papers showing continuous registration and insurance coverage for the past full year. 3. When you buy or lease a new vehicle, the dealer handles the submission of all required information to NHTSA. 4. NHTSA ensures that your purchase meets the requirements. 5. About 10 days later, NHTSA will issue a financial credit to the dealer — assuming all program requirements have been met. How do I participate in this program? You can participate in this program by purchasing a new vehicle from a participating new car dealership. The incentive amount will be applied to the new vehicle purchase price or lease price rather than sent to you. Dealers must be registered for the program with the National Highway Traffic Safety Administration (NHTSA). NHTSA provides a list of participating dealerships and qualifying vehicles at the cars.gov Web site. 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. Does my trade-in vehicle qualify? To qualify, your trade-in vehicle must: • Be in drivable condition • Have been continuously insured consistent with state laws and registered to you for at least one year immediately prior to trade-in • Be manufactured less than 25 years before the date of the trade-in (For cars and light-duty trucks, this applies to 1984 and later; work trucks must have been manufactured between 1984 and 2001) • Have a combined mpg of 18 or less (larger GVWR trucks are age-based) Does the new vehicle I want qualify? The qualification of the new vehicle and the incentive amount depend upon the kind of vehicle you want to purchase, its mpg relative to your trade-in vehicle, and in some cases, the kind of vehicle you are trading in. In addition, the purchased vehicle must: • Be new (i.e., legal title has not been transferred to anyone) • Have a manufacturer’s suggested retail price of $45,000 or less Which Chrysler Group vehicles may qualify? • Chrysler: PT Cruiser, Sebring Sedan/Convertible, Town & Country, Aspen • Dodge: Caliber, Avenger, Journey, Nitro (2WD), Grand Caravan, Dakota, Ram LD/HD, Sprinter • Jeep : Compass, Patriot, Liberty (2WD), Grand Cherokee (2WD), Commander ® What is the amount of the rebate? The amount of the rebate 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. Use this chart as a general reference – complete details are available at cars.gov. New vehicle type Passenger car Light-duty truck, SUV, or minivan Large light-duty truck (6,000-8,500 pounds) Work truck (8,500-10,000 pounds) minimum fuel economy for New vehicle 22 mpg (EPA combined) 18 mpg (EPA combined) 15 mpg (EPA combined) $3,500 voucher Mileage improvement of at least 4 mpg Mileage improvement of at least 2 mpg Mileage improvement of at least 1 mpg or trade-in of a work truck Trade-in must be at least pre-2002 $4,500 voucher Mileage improvement of at least 10 mpg Mileage improvement of at least 5 mpg Mileage improvement of at least 2 mpg Details subject to change. FOR YOUR OLD CAR How will this affect trade-in value? Under this program, your trade-in vehicle will be scrapped rather than resold by the dealer. Therefore, the new vehicle’s price will be reduced by the incentive amount instead of the amount the dealer would normally give you for trade-in. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle. 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 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. What if my vehicle is not listed in find a Car? If your vehicle is a large truck or van with a Gross Vehicle Weight Rating (GVWR) of more than 8,500 lb, EPA fuel economy estimates for your vehicle do not exist because manufacturers are not required to provide mpg ratings for those vehicles. 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, and to be eligible, the vehicle’s date of manufacture must be less than 25 years from the date you trade it in. Other restrictions may also apply. 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. Does the program apply if I want to buy a used car? No. The program does not apply to the purchase of used vehicles. 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. Am I going to have to pay taxes on the allowance? No. The legislation specifically identifies that the CARS allowance is NOT to be identified as income by the IRS. FOR YOUR OLD CAR
UPDATE (July 21, 2009)
NHTSA will have the details available on July 24th, 2009.
Make the most of this program by buying a fuel-efficient Kia:
Here is a list of eligible Kia vehicles with their adjusted combined EPA MPG ratings:
While the CARS Act makes transactions on and after July 1 potentially eligible for credits under the CARS program, NHTSA, government agency tasked with administering the program, is working on addressing and resolving all of the detailed issues in the implementing regulations. The final rules will be issued around July 23.
Congress has passed the "Cash for Clunkers" legislation that would give car buyers a $3,500 or $4,500 voucher for trading in an old, inefficient vehicle for a new, more-efficient one between July 1 and November 1, 2009!
CARS FREQUENTLY ASKED QUESTIONS Legislation has been enacted offering car buyers a $3,500 or $4,500 rebate between July 23 and November 1, 2009 for trading in an old, inefficient vehicle for one that’s new and more efficient. What is the Car Allowance Rebate System (CARS)? The Car Allowance Rebate System (HR 2751— Consumer Assistance to Recycle and Save Act) 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 a less fuel efficient car or truck is traded in. Government officials and the news media have often referred to this legislation as “Cash for Clunkers.” How does CARS work? 1. Determine if you qualify at the cars.gov Web site; then shop for a new car. 2. Bring the title, registration and insurance papers showing continuous registration and insurance coverage for the past full year. 3. When you buy or lease a new vehicle, the dealer handles the submission of all required information to NHTSA. 4. NHTSA ensures that your purchase meets the requirements. 5. About 10 days later, NHTSA will issue a financial credit to the dealer — assuming all program requirements have been met. How do I participate in this program? You can participate in this program by purchasing a new vehicle from a participating new car dealership. The incentive amount will be applied to the new vehicle purchase price or lease price rather than sent to you. Dealers must be registered for the program with the National Highway Traffic Safety Administration (NHTSA). NHTSA provides a list of participating dealerships and qualifying vehicles at the cars.gov Web site. 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. Does my trade-in vehicle qualify? To qualify, your trade-in vehicle must: • Be in drivable condition • Have been continuously insured consistent with state laws and registered to you for at least one year immediately prior to trade-in • Be manufactured less than 25 years before the date of the trade-in (For cars and light-duty trucks, this applies to 1984 and later; work trucks must have been manufactured between 1984 and 2001) • Have a combined mpg of 18 or less (larger GVWR trucks are age-based) Does the new vehicle I want qualify? The qualification of the new vehicle and the incentive amount depend upon the kind of vehicle you want to purchase, its mpg relative to your trade-in vehicle, and in some cases, the kind of vehicle you are trading in. In addition, the purchased vehicle must: • Be new (i.e., legal title has not been transferred to anyone) • Have a manufacturer’s suggested retail price of $45,000 or less Which Chrysler Group vehicles may qualify? • Chrysler: PT Cruiser, Sebring Sedan/Convertible, Town & Country, Aspen • Dodge: Caliber, Avenger, Journey, Nitro (2WD), Grand Caravan, Dakota, Ram LD/HD, Sprinter • Jeep : Compass, Patriot, Liberty (2WD), Grand Cherokee (2WD), Commander ® What is the amount of the rebate? The amount of the rebate 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. Use this chart as a general reference – complete details are available at cars.gov. New Vehicle Type Passenger Car Light-duty truck, SUV, or Minivan Large light-duty truck (6,000-8,500 pounds) Work truck (8,500-10,000 pounds) Minimum Fuel Economy for New Vehicle 22 mpg (EPA combined) 18 mpg (EPA combined) 15 mpg (EPA combined) $3,500 Voucher Mileage improvement of at least 4 mpg Mileage improvement of at least 2 mpg Mileage improvement of at least 1 mpg or trade-in of a work truck Trade-in must be at least pre-2002 $4,500 Voucher Mileage improvement of at least 10 mpg Mileage improvement of at least 5 mpg Mileage improvement of at least 2 mpg Details subject to change. How will this affect trade-in value? Under this program, your trade-in vehicle will be scrapped rather than resold by the dealer. Therefore, the new vehicle’s price will be reduced by the incentive amount instead of the amount the dealer would normally give you for trade-in. The law requires the dealer to disclose to you an estimate of the scrap value of your trade-in vehicle. 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 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. What if my vehicle is not listed in Find a Car? If your vehicle is a large truck or van with a Gross Vehicle Weight Rating (GVWR) of more than 8,500 lb, EPA fuel economy estimates for your vehicle do not exist because manufacturers are not required to provide mpg ratings for those vehicles. 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, and to be eligible, the vehicle’s date of manufacture must be less than 25 years from the date you trade it in. Other restrictions may also apply. 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. Does the program apply if I want to buy a used car? No. The program does not apply to the purchase of used vehicles. 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. Am I going to have to pay taxes on the allowance? No. The legislation specifically identifies that the CARS allowance is NOT to be identified as income by the IRS.
As of Friday, June 19, 2009, The "Cash for Clunkers" legislation has passed the House and Senate and is waiting to be signed into law by the President.
Currently we do not have detailed information about how the Cash for Clunkers program will work. The legislation takes affect as of July 1, 2009. However, it may take a little time to work out details of the program and set up a procedure for dealerships to get registered with the program. So, it may be a few weeks, or as long as a month, before buyers will be able to participate.
We will update this page as we get more information. Information below is updated on June 23rd, 2009.
To qualify, your trade-in vehicle must:
Be in driveable condition
Have been continuously insured consistent with State laws and registered to you for at least one year immediately prior to trade-in
Be manufactured less than 25 years before the date of the trade-in
Have a combined MPG of 18 or less (this does not apply to category 3 trucks)
The program was intended to help replace older vehicles -- model year 1984 or later -- and would not make financial sense for customers owning an older car with a trade-in value greater than $3,500 or $4,500.
You also must purchase a new (i.e., legal title has not been transferred to anyone) vehicle with a manufacturer's suggested retail price $45,000 or less.
The legislation requires that your trade-in be scrapped or parted out rather than resold by the dealer. Therefore, the new vehicle's price will be reduced by the incentive amount instead of the amount the dealer would normally give you for trade-in.
How Much Cash Can I Get?
The incentive amount ($3500 or $4500) depends upon the kind of vehicle you want to purchase, its MPG relative to your trade-in vehicle, and in some cases, the kind of vehicle you are trading in.
The program starts on July 1st. NHTSA is calling this program Car Allowance Rebate System (CARS). This is a government program that helps you purchase a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle. NHTSA has setup an informational website: Cars.gov
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
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.
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.
Here is the text of the law:
TITLE XIII--CONSUMER ASSISTANCE TO RECYCLE AND SAVE PROGRAM Sec. 1301. Short Title- This title may be cited as the `Consumer Assistance to Recycle and Save Act of 2009'. Sec. 1302. Consumer Assistance to Recycle and Save Program- (a) Establishment- There is established in the National Highway Traffic Safety Administration a voluntary program to be known as the `Consumer Assistance to Recycle and Save Program' through which the Secretary, in accordance with this section and the regulations promulgated under subsection (d), shall-(1) authorize the issuance of an electronic voucher, subject to the specifications set forth in subsection (c), to offset the purchase price or lease price for a qualifying lease of a new fuel efficient automobile upon the surrender of an eligible trade-in vehicle to a dealer participating in the Program; (2) register dealers for participation in the Program and require that all registered dealers-(A) accept vouchers as provided in this section as partial payment or down payment for the purchase or qualifying lease of any new fuel efficient automobile offered for sale or lease by that dealer; and (B) in accordance with subsection (c)(2), to transfer each eligible trade-in vehicle surrendered to the dealer under the Program to an entity for disposal; (3) in consultation with the Secretary of the Treasury, make electronic payments to dealers for eligible transactions by such dealers, in accordance with the regulations issued under subsection (d); and (4) in consultation with the Secretary of the Treasury and the Inspector General of the Department of Transportation, establish and provide for the enforcement of measures to prevent and penalize fraud under the program. (b) Qualifications for and Value of Vouchers- A voucher issued under the Program shall have a value that may be applied to offset the purchase price or lease price for a qualifying lease of a new fuel efficient automobile as follows: (1) $3,500 VALUE- The voucher may be used to offset the purchase price or lease price of the new fuel efficient automobile by $3,500 if-(A) the new fuel efficient automobile is a passenger automobile and the combined fuel economy value of such automobile is at least 4 miles per gallon higher than the combined fuel economy value of the eligible trade-in vehicle; (B) the new fuel efficient automobile is a category 1 truck and the combined fuel economy value of such truck is at least 2 miles per gallon higher than the combined fuel economy value of the eligible trade-in vehicle; (C) the new fuel efficient automobile is a category 2 truck that has a combined fuel economy value of at least 15 miles per gallon and-(i) the eligible trade-in vehicle is a category 2 truck and the combined fuel economy value of the new fuel efficient automobile is at least 1 mile per gallon higher than the combined fuel economy value of the eligible trade-in vehicle; or (ii) the eligible trade-in vehicle is a category 3 truck of model year 2001 or earlier; or (D) the new fuel efficient automobile is a category 3 truck and the eligible trade-in vehicle is a category 3 truck of model year of 2001 or earlier and is of similar size or larger than the new fuel efficient automobile as determined in a manner prescribed by the Secretary. (2) $4,500 VALUE- The voucher may be used to offset the purchase price or lease price of the new fuel efficient automobile by $4,500 if-(A) the new fuel efficient automobile is a passenger automobile and the combined fuel economy value of such automobile is at least 10 miles per gallon higher than the combined fuel economy value of the eligible trade-in vehicle; (B) the new fuel efficient automobile is a category 1 truck and the combined fuel economy value of such truck is at least 5 miles per gallon higher than the combined fuel economy value of the eligible trade-in vehicle; or (C) the new fuel efficient automobile is a category 2 truck that has a combined fuel economy value of at least 15 miles per gallon and the combined fuel economy value of such truck is at least 2 miles per gallon higher than the combined fuel economy value of the eligible trade-in vehicle and the eligible trade-in vehicle is a category 2 truck. (c) Program Specifications(1) LIMITATIONS(A) GENERAL PERIOD OF ELIGIBILITY- A voucher issued under the Program shall be used only in connection with the purchase or qualifying lease of new fuel efficient automobiles that occur between July 1, 2009 and November 1, 2009. (B) NUMBER OF VOUCHERS PER PERSON AND PER TRADE-IN VEHICLE- Not more than 1 voucher may be issued for a single person and not more than 1 voucher may be issued for the joint registered owners of a single eligible trade-in vehicle. (C) NO COMBINATION OF VOUCHERS- Only 1 voucher issued under the Program may be applied toward the purchase or qualifying lease of a single new fuel efficient automobile. (D) CAP ON FUNDS FOR CATEGORY 3 TRUCKS- Not more than 7.5 percent of the total funds made available for the Program shall be used for vouchers for the purchase or qualifying lease of category 3 trucks. (E) COMBINATION WITH OTHER INCENTIVES PERMITTED- The availability or use of a Federal, State, or local incentive or a State-issued voucher for the purchase or lease of a new fuel efficient automobile shall not limit the value or issuance of a voucher under the Program to any person otherwise eligible to receive such a voucher. (F) NO ADDITIONAL FEES- A dealer participating in the program may not charge a person purchasing or leasing a new fuel efficient automobile any additional fees associated with the use of a voucher under the Program. (G) NUMBER AND AMOUNT- The total number and value of vouchers issued under the Program may not exceed the amounts appropriated for such purpose. (2) DISPOSITION OF ELIGIBLE TRADE-IN VEHICLES(A) IN GENERAL- For each eligible trade-in vehicle surrendered to a dealer under the Program, the dealer shall certify to the Secretary, in such manner as the Secretary shall prescribe by rule, that the dealer-(i) has not and will not sell, lease, exchange, or otherwise dispose of the vehicle for use as an automobile in the United States or in any other country; and (ii) will transfer the vehicle (including the engine block), in such manner as the Secretary prescribes, to an entity that will ensure that the vehicle-(I) will be crushed or shredded within such period and in such manner as the Secretary prescribes; and (II) has not been, and will not be, sold, leased, exchanged, or otherwise disposed of for use as an automobile in the United States or in any other country. (B) SAVINGS PROVISION- Nothing in subparagraph (A) may be construed to preclude a person who is responsible for ensuring that the vehicle is crushed or shredded from(i) selling any parts of the disposed vehicle other than the engine block and drive train (unless with respect to the drive train, the transmission, drive shaft, or rear end are sold as separate parts); or (ii) retaining the proceeds from such sale. (C) COORDINATION- The Secretary shall coordinate with the Attorney General to ensure that the National Motor Vehicle Title Information System and other publicly accessible systems are appropriately updated on a timely basis to reflect the crushing or shredding of vehicles under this section and appropriate reclassification of the vehicles' titles. The commercial market shall also have electronic and commercial access to the vehicle identification numbers of vehicles that have been disposed of on a timely basis. (d) Regulations- Notwithstanding the requirements of section 553 of title 5, United States Code, the Secretary shall promulgate final regulations to implement the Program not later than 30 days after the date of the enactment of this Act. Such regulations shall-(1) provide for a means of registering dealers for participation in the Program; (2) establish procedures for the reimbursement of dealers participating in the Program to be made through electronic transfer of funds for the amount of the vouchers as soon as practicable but no longer than 10 days after the submission of information supporting the eligible transaction, as deemed appropriate by the Secretary; (3) require the dealer to use the voucher in addition to any other rebate or discount advertised by the dealer or offered by the manufacturer for the new fuel efficient automobile and prohibit the dealer from using the voucher to offset any such other rebate or discount; (4) require dealers to disclose to the person trading in an eligible trade-in vehicle the best estimate of the scrappage value of such vehicle and to permit the dealer to retain $50 of any amounts paid to the dealer for scrappage of the automobile as payment for any administrative costs to the dealer associated with participation in the Program; (5) consistent with subsection (c)(2), establish requirements and procedures for the disposal of eligible trade-in vehicles and provide such information as may be necessary to entities engaged in such disposal to ensure that such vehicles are disposed of in accordance with such requirements and procedures, including-(A) requirements for the removal and appropriate disposition of refrigerants, antifreeze, lead products, mercury switches, and such other toxic or hazardous vehicle components prior to the crushing or shredding of an eligible trade-in vehicle, in accordance with rules established by the Secretary in consultation with the Administrator of the Environmental Protection Agency, and in accordance with other applicable Federal or State requirements; (B) a mechanism for dealers to certify to the Secretary that each eligible trade-in vehicle will be transferred to an entity that will ensure that the vehicle is disposed of, in accordance with such requirements and procedures, and to submit the vehicle identification numbers of the vehicles disposed of and the new fuel efficient automobile purchased with each voucher; (C) a mechanism for obtaining such other certifications as deemed necessary by the Secretary from entities engaged in vehicle disposal; and (D) a list of entities to which dealers may transfer eligible trade-in vehicles for disposal; and (6) provide for the enforcement of the penalties described in subsection (e). (e) Anti-Fraud Provisions(1) VIOLATION- It shall be unlawful for any person to violate any provision under this section or any regulations issued pursuant to subsection (d) (other than by making a clerical error). (2) PENALTIES- Any person who commits a violation described in paragraph (1) shall be liable to the United States Government for a civil penalty of not more than $15,000 for each violation. The Secretary shall have the authority to assess and compromise such penalties, and shall have the authority to require from any entity the records and inspections necessary to enforce this program. In determining the amount of the civil penalty, the severity of the violation and the intent and history of the person committing the violation shall be taken into account. (f) Information to Consumers and Dealers- Not later than 30 days after the date of the enactment of this Act, and promptly upon the update of any relevant information, the Secretary, in consultation with the Administrator of the Environmental Protection Agency, shall make available on an Internet website and through other means determined by the Secretary information about the Program, including-(1) how to determine if a vehicle is an eligible trade-in vehicle; (2) how to participate in the Program, including how to determine participating dealers; and (3) a comprehensive list, by make and model, of new fuel efficient automobiles meeting the requirements of the Program. Once such information is available, the Secretary shall conduct a public awareness campaign to inform consumers about the Program and where to obtain additional information. (g) Record Keeping and Report(1) DATABASE- The Secretary shall maintain a database of the vehicle identification numbers of all new fuel efficient vehicles purchased or leased and all eligible trade-in vehicles disposed of under the Program. (2) REPORT ON EFFICACY OF THE PROGRAM- Not later than 60 days after the termination date described in subsection (c)(1)(A), the Secretary shall submit a report to the Committee on Energy and Commerce of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate describing the efficacy of the Program, including-(A) a description of Program results, including-(i) the total number and amount of vouchers issued for purchase or lease of new fuel efficient automobiles by manufacturer (including aggregate information concerning the make, model, model year) and category of automobile; (ii) aggregate information regarding the make, model, model year, and manufacturing location of vehicles traded in under the Program; and (iii) the location of sale or lease; (B) an estimate of the overall increase in fuel efficiency in terms of miles per gallon, total annual oil savings, and total annual greenhouse gas reductions, as a result of the Program; and (C) an estimate of the overall economic and employment effects of the Program. (h) Exclusion of Vouchers From Income(1) FOR PURPOSES OF ALL FEDERAL AND STATE PROGRAMS- A voucher issued under this program or any payment made for such a voucher pursuant to subsection (a)(3) shall not be regarded as income and shall not be regarded as a resource for the month of receipt of the voucher and the following 12 months, for purposes of determining the eligibility of the recipient of the voucher (or the recipient's spouse or other family or household members) for benefits or assistance, or the amount or extent of benefits or assistance, under any Federal or State program. (2) FOR PURPOSES OF TAXATION- A voucher issued under the program or any payment made for such a voucher pursuant to subsection (a)(3) shall not be considered as gross income of the purchaser of a vehicle for purposes of the Internal Revenue Code of 1986. (i) Definitions- As used in this section-(1) the term `passenger automobile' means a passenger automobile, as defined in section 32901(a)(18) of title 49, United States Code, that has a combined fuel economy value of at least 22 miles per gallon; (2) the term `category 1 truck' means a nonpassenger automobile, as defined in section 32901(a)(17) of title 49, United States Code, that has a combined fuel economy value of at least 18 miles per gallon, except that such term does not include a category 2 truck; (3) the term `category 2 truck' means a large van or a large pickup, as categorized by the Secretary using the method used by the Environmental Protection Agency and described in the report entitled `Light-Duty Automotive Technology and Fuel Economy Trends: 1975 through 2008'; (4) the term `category 3 truck' means a work truck, as defined in section 32901(a)(19) of title 49, United States Code; (5) the term `combined fuel economy value' means-(A) with respect to a new fuel efficient automobile, the number, expressed in miles per gallon, centered below the words `Combined Fuel Economy' on the label required to be affixed or caused to be affixed on a new automobile pursuant to subpart D of part 600 of title 40, Code of Federal Regulations; (B) with respect to an eligible trade-in vehicle, the equivalent of the number described in subparagraph (A), and posted under the words `Estimated New EPA MPG' and above the word `Combined' for vehicles of model year 1984 through 2007, or posted under the words `New EPA MPG' and above the word `Combined' for vehicles of model year 2008 or later on the fueleconomy.gov website of the Environmental Protection Agency for the make, model, and year of such vehicle; or (C) with respect to an eligible trade-in vehicle manufactured between model years 1978 through 1985, the equivalent of the number described in subparagraph (A) as determined by the Secretary (and posted on the website of the National Highway Traffic Safety Administration) using data maintained by the Environmental Protection Agency for the make, model, and year of such vehicle. (6) the term `dealer' means a person licensed by a State who engages in the sale of new automobiles to ultimate purchasers; (7) the term `eligible trade-in vehicle' means an automobile or a work truck (as such terms are defined in section 32901(a) of title 49, United States Code) that, at the time it is presented for trade-in under this section-(A) is in drivable condition; (B) has been continuously insured consistent with the applicable State law and registered to the same owner for a period of not less than 1 year immediately prior to such trade-in; (C) was manufactured less than 25 years before the date of the trade-in; and (D) in the case of an automobile, has a combined fuel economy value of 18 miles per gallon or less; (8) the term `new fuel efficient automobile' means an automobile described in paragraph (1), (2), (3), or (4)-(A) the equitable or legal title of which has not been transferred to any person other than the ultimate purchaser; (B) that carries a manufacturer's suggested retail price of $45,000 or less; (C) that-(i) in the case of passenger automobiles, category 1 trucks, or category 2 trucks, is certified to applicable standards under section 86.1811-04 of title 40, Code of Federal Regulations; or (ii) in the case of category 3 trucks, is certified to the applicable vehicle or engine standards under section 86.1816-08, 86-007-11, or 86.008-10 of title 40, Code of Federal Regulations; and (D) that has the combined fuel economy value of at least(i) 22 miles per gallon for a passenger automobile; (ii) 18 miles per gallon for a category 1 truck; or (iii) 15 miles per gallon for a category 2 truck; (9) the term `Program' means the Consumer Assistance to Recycle and Save Program established by this section; (10) the term `qualifying lease' means a lease of an automobile for a period of not less than 5 years; (11) the term `scrappage value' means the amount received by the dealer for a vehicle upon transferring title of such vehicle to the person responsible for ensuring the dismantling and destroying of the vehicle; (12) the term `Secretary' means the Secretary of Transportation acting through the National Highway Traffic Safety Administration; (13) the term `ultimate purchaser' means, with respect to any new automobile, the first person who in good faith purchases such automobile for purposes other than resale; (14) the term `vehicle identification number' means the 17 character number used by the automobile industry to identify individual automobiles; and (15) the term `voucher' means an electronic transfer of funds to a dealer based on an eligible transaction under this program. (j) Appropriation- There is hereby appropriated to the Secretary of Transportation $1,000,000,000, of which up to $50,000,000 is available for administration, to remain available until expended to carry out this section.
Prices and offers subject to normal credit approval. Vehicles subject to prior sale. Prices are plus government fees and taxes, any finance charges, any dealer document preparation charge, any emission testing charge and any CA Tire Fee. MSRP is Manufacturer's Suggested Retail Price.
Please contact us to verify the information, pricing and availability of the vehicles listed. *Rebates may include National and Regional consumer cash offers. Bonus Cash programs may have eligibility requirements and only available for customers who satisfy these requirements (Owning/Leasing select Makes/Models, Serving in the Military, etc.) For Basic eligibility and documentation requirements, visit Bonus Cash Information Page. Please call us at (877) 655-4333 to get complete details.
