In order to get the $3,500 rebate, a new passenger car must get at the least 22 miles per gallon, no matter what the old car's
gas mileage
is. The stipulation is this, the new vehicle's MPG rate has to be at least 4 miles more per gallon than the one you are trading in. So if you have an old ford, that gets 20 miles per gallon, the new car you choose to purchase must get 24 miles per gallon to qualify. If you improve your gas mileage by at least 10 MPG you qualify for the $4,500 rebate. There are different requirements for each vehicle type. If you are planning on buying a Light-Duty, Large Light-Duty, or Commercial Truck there is a link in the resources section below to help you determine how to get the Cash for Clunkers rebate for this type of vehicle purchase.
- CNN