The CARS government program, better known as “Cash For Clunkers” is ready to be taken advantage of by owners of very old cars. Here is a quick summary of the program including rules, regulations, and information about the various categories of trucks:

Older Trade-In Vehicles:
* Must be in drivable condition
* Have been continuously insured to the same owner for at least a year prior to trade-in
* Manufactured in model year 1984 or later
* Have a combined fuel economy of 18 mpg or less.

New Vehicles (divided in to 4 categories) – The mpg values are EPA combined city/highway fuel economy as posted on the window sticker of the new vehicle.

Passenger Cars: New passenger cars with mileage of at least 22 mpg are eligible for discounts. If the mileage of the new car is at least 4 mpg higher than the old vehicle, the discount will be worth $3,500. If the mileage of the new car is at least 10 mpg higher than the old vehicle, the discount will be worth $4,500.

Light-Duty Trucks: New light trucks or SUVs with mileage of at least 18 mpg are eligible for discounts. If the mileage of the new truck or SUV is at least 2 mpg higher than the old truck, the discount will be worth $3,500. If the mileage of the new truck or SUV is at least 5 mpg higher than the old truck, the discount will be worth $4,500.

Large Light-Duty Trucks: New large trucks (pick-up trucks and vans weighing between 6,000 and 8,500 pounds) with mileage of at least 15 mpg are eligible for discounts. If the mileage of the new truck is at least 1 mpg higher than the old truck, the discount will be worth $3,500. If the mileage of the new truck is at least 2 mpg higher than the old truck, the discount will be worth $4,500.

Work Trucks: Consumers can trade in a pre-2002 work truck (defined as a pick-up truck or cargo van weighing from 8,500-10,000 pounds) and receive a discount worth $3,500 for a new work truck in the same or smaller weight class. Dicounts are limited to 7.5 percent of total funds. There are no EPA mileage measures for these trucks. However, because newer models are cleaner than older models, the age requirement ensures that the trade will improve environmental quality. Consumers can also “trade down,” receiving a $3,500 voucher for trading in an older work truck and purchasing a smaller light-duty truck weighing from 6,000 – 8,500 pounds.