New Chrysler Incentive Doubles Cash-for-Clunkers Rebate
In a bid to get inventory moving out of showrooms in a hurry, Chrysler has decided to offer a new incentive program that would double the value of the government's cash-for-clunkers program.
Chrysler will offer $4,500 off (or 0 percent financing for 72 months) on most of its 2009 inventory - excluding the Dodge Challenger, Sprinter, Jeep Wrangler and all SRT products. The $4,500 incentive is even available on vehicles that do not meet the requirements for the cash-for-clunkers program, which was recently signed off on by President Obama.
Cash-for-Clunkers, or CARS (Car Allowance Rebate System) gives a $4,500 rebate on a new car when it gets 10 mpg or more better fuel mileage than the one traded in. The rebate is $3,500 on vehicles that get 4 to 9 mpg better or trucks that get 2 to 4 mpg better.
Chrysler, now under new leadership from Italian automaker Fiat is hoping the incentive will help sales rebound. Chrysler has been hit particularly hard this year with sales down 45.7 percent for the first six months.
When combined, these two offers mean a $17,090, Dodge Caliber SE could leave showrooms for as little as $8,090.
Chrysler's "Double Ca$h for Your Old Car," incentive starts July 23 and runs through August.
I'm still confused and can't get a straight answer. If my trade in mpg is 20 which is stated on the fueleconomy.gov website...i do not qualify for any clunker cash at all on anything? If the new purchase got 30 mpg per the gov I am improving 10 mpg but I'm starting with more than the minimum 18 mpg so still nothing? Is it either or or is it both a requirement? I know the rules are not final yet but it is confusing?
I'm still confused and can't get a straight answer. If my trade in mpg is 20 which is stated on the fueleconomy.gov website...i do not qualify for any clunker cash at all on anything? If the new purchase got 30 mpg per the gov I am improving 10 mpg but I'm starting with more than the minimum 18 mpg so still nothing? Is it either or or is it both a requirement? I know the rules are not final yet but it is confusing?
obviously we don't have the official. deal.. but this is what we're given so far:
cars.gov is where you get the most info.
For new vehicles:
passenger car for new, 22mpg combined minimum, improvement of 4mpg for 3500 and 10mpg for 4500
light duty truck, suv, minivan. new: 18mpg combined, 2mpg improvement for 3500, and 5mpg for 4500
large light duty truck. 15mpg combined, 1mpg improve for 3500, 2mpg for 4500
I'm still confused and can't get a straight answer. If my trade in mpg is 20 which is stated on the fueleconomy.gov website...i do not qualify for any clunker cash at all on anything? If the new purchase got 30 mpg per the gov I am improving 10 mpg but I'm starting with more than the minimum 18 mpg so still nothing? Is it either or or is it both a requirement? I know the rules are not final yet but it is confusing?
correct. to qualify:
- be driveable condition
- insured consistent w/ state law for past year
- be manufactured less than 25 years before the date of trade-in. (84 or later for cars, trucks would be 84-2001)
- have a combined mpg of 18 or less (Larger GVWR trucks are age-based)
its a shame that Chrysler doesn't currently have anything that really gets great mileage.. so unless you go from an SUV to a car, it's gonna be really hard to get the full amount
"The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate."
So if you trade in a 04 suv that got like 8mpg.. the dealer could not give you the $10k its worth. Only the scrap value..
Now if I tried to trade in the 1987 Escort wagon I have. scrap value of $300 (thats what the junkyard offered for it) + 3500 rebate if I can find something thats 4mpg better + chrysler rebate $4500 = $8300. not bad.
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New Chrysler Incentive Doubles Cash-for-Clunkers Rebate
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