The Cash for Clunkers program will allow anyone to trade in a vehicle that gets 18 mpg or less in exchange for a $3,500 voucher towards the purchase of a new car that gets at least 22 mpg. The voucher increases to a maximum of $4,500 if the new car gets at least 10 mpg more than the clunker being traded in. Truck owners will get $3,500 for trading in and buying a new truck or SUV that is 2 mpg more fuel efficient and $4,500 for one that's at least 5 mpg better.
The Senate could vote on the war-spending bill that contains provisions for the Cash for Clunkers program as early as tonight, so stay tuned.
[Source: Boston Herald | Image: Theo Heimann/Getty]