Indianapolis Mitsubishi Dealer Gears Up for Cash for Clunkers

PRLog (Press Release) - Jun 27, 2009 -
You do not need a voucher and you are not required to sign up or enroll in this program. Andy Mohr Mitsubishi will apply a credit, reducing the price you pay at the time of your purchase or lease, provided the vehicle you buy or lease and the vehicle you trade in meet the program requirements.
Your trade-in vehicle must have been manufactured less than 25 years before the date you trade it in, have a "new" combined city/highway fuel economy of 18 miles per gallon or less,
be in drivable condition, be continuously insured and registered to the same owner for the full year preceding the trade-in.
The trade-in vehicle must have been manufactured not earlier than 25 years before the date of trade in and, in the case of a category 3 vehicle, must also have been manufactured not later than model year 2001
Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.
Go to http://www.fueleconomy.gov/feg/sbs.htm and click on the model year of your vehicle, the make, and then the model. Under the words "ESTIMATED NEW EPA MPG" in the red banner, there is a red number with the word "COMBINED" under it. That is the new combined city/highway fuel economy for your vehicle. You may then enter the make, model, and model year of a new vehicle you may want to buy and see its combined MPG for comparison.

The amount of the credit is $3,500 or $4,500, and generally depends on the type of vehicle you purchase and the difference in fuel economy between the purchased vehicle and the trade-in vehicle. Different requirements apply for work trucks
The law requires your trade-in vehicle to be destroyed. Therefore, the value you negotiate with Andy Mohr for your trade-in vehicle is not likely to exceed its scrap value. The law requires the dealers to disclose to you an estimate of the scrap value of your trade-in vehicle.  The CARS Act applies to new vehicles. Thus, used vehicles do not qualify under the program.

The new vehicle must have a manufacturer’s suggested retail price of not more than $45,000. That price appears on the window sticker on new vehicles. The new vehicle must also achieve minimum combined fuel economy levels. For passenger automobiles, the new vehicle must have a combined fuel economy value of at least 22 miles per gallon. For category 1 trucks, the new vehicle must have a combined fuel economy value of at least 18 miles per gallon. For category 2 trucks, the new vehicle must have a combined fuel economy value of at least 15 miles per gallon. Category 3 trucks have no minimum fuel economy requirement; however, there are special requirements that apply to the purchase of category 3 vehicles.

As noted above, the CARS Act also requires that NHTSA make available on an Internet website a comprehensive list of new vehicles that meet the requirements of the program. Until that information is posted on the program’s website, consumers may determine whether a new vehicle meets the fuel economy requirements of the program in two ways. First, the combined fuel economy of a new vehicle will be posted under the heading "Combined Fuel Economy" on the window sticker ("Monroney label") of a new vehicle. Second, you may also find the combined fuel economy value of a new vehicle by visiting http://www.fueleconomy.gov/feg/findacar.htm and searching for their vehicle to find its combined fuel economy value. When searching that website, consumers will need to know their vehicle’s model year, make, model, engine size, and transmission type.