What is a "Clunker"? Qualifying vehicles, 'clunkers', are drivable vehicles manufactured within the last 25 years that have been registered and insured for at least one year prior to the trade in date. In straight talk, no junk yard beaters or used car 'flips' will be allowed. Vehicles must have mileage ratings of no more than 18 MPG as per FuelEconomy.gov and yes, it will be verified!
How much will I get? That is depends on what you purchase...
Passenger Cars: New passenger cars will qualify under the program only if they have a fuel economy of at least 22 MPG. If the new model gets four more miles to the gallon than the old car, you qualify for the $3,500 credit. With a 10 MPG improvement or more, you can qualify for a $4,500 credit.
Trucks and SUVs: For light trucks, SUVs and minivans, the new vehicle has to get at least 18 MPG and can offer as little as a 2 MPG improvement over the old one to qualify for $3,500. With a minimum 5 MPG improvement, you can qualify for $4,500.
What type of vehicle can I buy to be eligible? A new previously unregistered vehicle that has an MSRP of under $45,000.00 and if leasing the lease term must be at least 5 years.
Of course there are a ton of websites with more info however please be careful, there are already scam sites that are misleading folks and costing people money. The Nissan Guy suggests you check out the CARS.gov site, it is the governments own site after all and believe it or not they break it down fairly simply, heck even I understood it! So grab the keys to the ole Camaro and I will see you soon!