How is my Cash for Clunkers Credit Amount Determined?

For passenger cars, if the improvement in fuel economy between the trade and the new vwehicle is between 4-10mpg, the rebate anount will be $3,500. If the improvement is more than 10mpg, the rebate is $4,500.


The value of the credit given for the purchase or lease of a category 1 or 2 truck also generally depends on the difference between the combined fuel economy of the vehicle that is traded in and that of the new vehicle that is purchased or leased. If the new vehicle is a category 1 truck that has a combined fuel economy value that is at least 2, but less than 5, miles per gallon higher than the traded-in vehicle, the credit is $3,500. If the new category 1 truck has a combined fuel economy value that is at least 5 miles per gallon higher than the traded-in vehicle, the credit is $4,500.