If you’re wanting to trade in your old car, and you’re hoping to cash in on the ‘Clunker’ money currently being offered by the government program, you might want to double check that your vehicle is still eligible.
A review of fuel-economy data has changed the eligibility of 164 trade-in vehicles in the “cash for clunkers” program.
According to the EPA, 78 vehicles that used to qualify as trade-ins no longer do and 86 that didn’t originally qualify now do.
The change, they say, is due to a review of the fuel-economy of 30,000 vehicles over 25 years, as required by legislation. The review was completed last week and caused the mileage data to change upward or downward due to rounding.
The program took effect over the weekend and allows consumers to get a rebate of up to $4,500 if they trade in a vehicle with 18 mpg or less. In order to get the rebate, you must also have owned the vehicle and kept insurance on it for at least a year.
Click here to check the Fuel Economy of your vehicle.
The "cash for clunkers" program is set to run through November, but due to popularity, it may run out of funding before then.
Source: Associated Press
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