With the Senate close to a vote that would approve an additional $2 Billion dollars for the Cash for Clunkers program it is interesting to note that the average fuel economy increase under the program is 9.6 mpg or a 61% improvement from the cars being traded to the cars.
Average Fuel Economy
New vehicles Mileage: 25.3 MPG
Trade-in Mileage: 15.8 MPG.
Overall increase: 9.6 MPG.
The Cash for clunkers guidelines include:
Cars–Cars and trucks must be 1984 models or newer. The most recent and complete and sortable list of cash for clunkers qualifying cars is HERE.
MPG–Eligible cars must get 18 mpg or less in combined highway/city rating
Paperwork–Owners need to show dealers their car's title, and proof of insurance and registration.
Car Rebates–
$3500 if the car gets at least 4 mpg more than the trade-in or $4500
rebate if the car gets at least 10 mpg or more than trade-in.
Truck Rebates–
For SUV's pick-up or minivans, a rebate of $3500 if the new vehicle
gets at least 2 mpg higher than the old vehicle or $4500 if it gets at
least 5 mpg more than the trade-in.
