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Clytie Bunyan, Business Editor
Deal gets gas guzzlers off nation’s roadways
Thinking about buying a new car? Don’t forget the "cash for clunkers” option, if you have a gas guzzler.
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For more details about the Consumer Assistance to Recycle and Save Act, go to cars.gov or nhtsa.dot.gov.
It provides $3,500 or $4,500 vouchers, enticements to get you to trade in your old vehicle for a new fuel-efficient one — worth less than $45,000.
The money is available courtesy of the Consumer Assistance to Recycle and Save Act, signed into law nearly two weeks ago.
But not everyone may qualify to get the vouchers. Before you rush to the nearest dealer, make sure your old vehicle was made after 1984 and is still in drivable condition (only to be crushed or shredded when it’s turned in). When you turn over the keys, it has to be for a vehicle that continuously was insured for at least one year.
Its combined fuel efficiency must be 18 mph or less. In exchange, the new vehicle’s fuel efficiency value should be 22 mpg — 18 mpg for things such as SUVs, pickups and minivans.
The amount of the voucher would depend on how much more fuel efficient the new vehicle is than what the government considers a polluting clunker.
Another thing to consider is the value of the trade-in.
A vehicle that’s valued more than $4,500 may not be a smart trade.
There are still some rules about this program to be resolved.
The National Highway Traffic Safety Administration will have those ready to implement the program by July 24, but transactions beginning July 1 through Nov. 1 that meet stated requirements will be honored.
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