Cash for Clunkers
In terms of the vehicles being traded-in, they must be owned and insured by the customer for at least one year, and they can’t be more than 25 years old. These vehicles are to be scrapped immediately after trade-in. Dealers will be provided with a list of entities (scrap businesses) that are approved to dispose of trade-ins in your area.
For new vehicles being purchased, there are different criteria for passenger cars and light trucks. The Routan, Tiguan and Touareg fall into the latter grouping.
Passenger Cars:
- Eligible new vehicles must achieve a minimum combined EPA fuel economy of 22 MPG.
- Vehicles can be purchased or leased, provided the lease term is at least 5 years.
- A $3,500 voucher will be granted if the new vehicle being purchased achieves at least 4 MPG more than the vehicle being traded in.
- A $4,500 voucher will be granted if the new vehicle being purchased achieves at least 10 MPG more than the vehicle being traded in.
Light Trucks:
- Eligible new vehicles must achieve a minimum combined EPA fuel economy of 18 MPG.
- Vehicles can be purchased or leased, provided the lease term is at least 5 years.
- A $3,500 voucher will be granted if the new vehicle being purchased achieves at least 2 MPG more than the vehicle being traded in.
- A $4,500 voucher will be granted if the new vehicle being purchased achieves at least 5 MPG more than the vehicle being traded in.
The Department of Transportation will soon establish a web site www.cars.gov that will be updated with specific program details as those are developed.
