Federal Cash For Clunkers Plan Nearing Compromise

After months of debate, Congress appears close to reaching a compromise “Cash for Clunkers” plan that would give consumers up to $4,500 if they turn in their old car and use the money to buy a new, more fuel-efficient replacement.

Late Tuesday, the House Committee on Energy and Commerce released a fact sheet that outlines the plan, which includes elements of two competing bills in the House and another in the Senate.

Under the plan, consumers can turn in cars or light-duty trucks that get less than 18 miles a gallon. If they buy cars that have “window sticker” mileage ratings of at least four miles a gallon more than their old cars, they will receive a voucher worth $3,500. If they buy cars that get at least 10 miles a gallon more than their old car, they receive $4,500. (Readers can check the “window sticker” mileage ratings of cars going back to 1985 at fueleconomy.gov.)

2009 BimmerFest Photo Gallery

2010 Mercedes-Benz E-Class Photo Gallery

If you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com

There are photos and then there are AutoSpies.com photos!

Share on Facebook

Read Article

AMiodynski - 5/6/2009 5:09:14 PM

+1 Boost

So, my $1,000 beater with a heater just became a $3,500 to $4,500 car !!! Nice, thank you :)

toolatetorace - 5/8/2009 9:48:21 AM

+1 Boost

.... Only if you trade it in one a new car and the 3500.00 will be taken off from the list price , usually the normal discount on a new car purchase anyway

thstone - 5/6/2009 6:19:55 PM

+2 Boost

One of the best ideas to come along from the Gov during this entire auto crisis. Give the bailout $$$ to the people and let them distribute it to the automaker of their choice. s

Anyone thinking of turning in their 15mpg SUV for a 2009 400HP Camaro that gets 25mpg (hwy) just for the $4,500 savings?

Agent00R - 5/7/2009 1:11:34 AM

+2 Boost

There is something I dislike about this program.

Can't quite put my finger on it, yet.

TexLandRover - 5/7/2009 7:12:11 PM

+1 Boost

This makes no sense. What condition does this "clunker" have to be in. There are some "year" restrictions I think. If you push in that beauty pictured above in the article into a dealership, does that get you $4500? Come on, lets get real. There is no real fair way to make this program work. Bet it'll come crashing down about 3 weeks into the hand out party.

toolatetorace - 5/8/2009 9:44:16 AM

+1 Boost

The picture of the car reminds me of a phrase that is heard by many as they search out a car for parts to help in a resoration or they ask, what the hell are you saving that for? " I'm going to fix it up someday " , the owner replies . After the years pass by and mother nature decomposes it , one day it is finally gone . You stop by and ask what happpened to the car ?? The former owner said , I was told it had to go and sold it for scrap .