Selecting The Best New Car For The Cash For Clunker Rebate

Friday, July 24th, 2009

The cash for clunker program officially started yesterday July 23rd (or today according to some media reports) and, in reading the media coverage for the program, I was struck by how difficult they make everything sound.

Is the cash for clunker program complex? Yes, but it’s not terribly difficult to figure out if you qualify. Please check out our articles which will give you all the basic information you need to know in order to proceed.

10 Things You Need To Know About The Cash For Clunker Program

8 Easy Steps to a New Fuel Efficient Car

All you need to do is spend some time reading the two links above and you will know what you need to do.  It’s also a good idea to read the CARS Act itself. The language of the CARS Act is pretty readable–I’ve seen much worse legalese.  So please don’t get overwhelmed by all the ‘noise’ about how hard and confusing the cash for clunkers program is because it isn’t. Just educate yourself.

Now on to the real topic of today’s post… what are the best cars to buy for the cash for clunker rebate program? If you recall, in a previous post I mentioned it only makes sense to get as much money as you can, which means aiming for a $4500 rebate.  To qualify for a $4500 cash for clunker credit, you need to purchase a new vehicle that improves gas mileage by at least 10 mpg over the trade-in vehicle.  Here’s a list of cars that should fulfill that requirement:

Model; MSRP; Price Range

2010 Toyota Prius, $22,000; $17,500
2009 Hyundai Sonata, $18,700; $12,200
2009 Mini Cooper, $18,550; $14,050
2009 Nissan Altima, $19,900; $13,900
2009 Pontiac Vibe, $16,100l; $9,100
2009 Honda Odyssey, $26,355; $21,855
2009 Subaru Forester, $19,995; $15,495
2009 Toyota Venza, $25,975; $21,475
2009 Ford Escape, $20,435; $13,435
2009 Toyota Tacoma, $15,170; $9,170
2009 Ford Escape, $20,435; $13,435
2009 Toyota Tacoma, $15,170; $9,170

Visit manufacturer’s websites in order to decide which vehicle to buy. It’s also a good idea to subscribe to Consumer Reports (an online subscription costs just $26 for the year) and read their reviews of whichever car you decide to purchase.

In addition, check out additional offers and rebates from dealers and manufacturers that can be bundled with the cash for clunker credit to further lower purchase price.

And if your car doesn’t qualify for the cash for clunker program, don’t worry. Dealers and car manufacturers are putting special deals together so no one is left out. Chrysler announced it will provide a $4500 credit to car buyers that don’t qualify for the cash for clunker rebate. Now is a great time to shop for a car, regardless of whether or not you own a clunker.

Tags: cars for clunker, cars for clunkers, cash for clunker rebate, clunker bill, clunker program, clunker rebate
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