Cash for Clunkers List Changes
For those that have been following our coverage on the Cash for Clunkers program, also known as the Car Allowance Rebate System (CARS) - there was a recent update to the list of cars that are eligible for the rebate. As a result the mileage rates for approximately 100 older vehicles have changed, rendering many as ineligible.
The changes were a result of a double-check on over 30,000 fuel efficiency stats from cars built since 1984 by the Environmental Protection Agency.
"As a result of the review, roughly an equal number of vehicles became eligible as those found to be not eligible," told the EPA in a statement. "Eligibility for about 100 vehicles was affected."
This last minute switch has taken the gas out of many car shoppers that were looking to take advantage of the rebate to upgrade their clunkers; causing those whose vehicles were dropped off the list to have to walk away from deals that were waiting for the program to go into effect this week. To be qualified for the $1 billion dollar program, the clunker needs to have an EPA city and highway combined gas consumption rating of 18 miles per gallon or less.
Buyers get a $3,500 incentive for a new car that gets anywhere from 4 to 9 mpg more and $4,500 for 10 mpg or more. The new car has to have at least 22 mpg combined rating as determined by the EPA. The Cash for Clunkers program will end on November 1st or whenever the 1 billion dollars earmarked for the program has been fully dispersed.
The EPA didn't provide any reasons for why the original ratings were incorrect. Anyone looking to cash in on this program should look at the list of recently disqualified cars to make sure that their vehicle qualifies, as well as check with the car dealership before committing to the sale.