Cash for Clunkers list snafu resolved

Some buyers will get the benefit anyway, but only if they acted before the EPA's changes.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Peter Valdes-Dapena, CNNMoney.com senior writer

Maximum cash for clunkers
Vehicles like these will help SUV and truck owners get the biggest bang for their trade-ins.
What's most important to you when choosing where to retire?
  • Affordable homes
  • Low taxes
  • Good health care
  • Low crime
  • Nice weather

Find your next Car


NEW YORK (CNNMoney.com) -- The last-minute snafu that suddenly disqualified some previously eligible vehicles from the Cash for Clunkers program has finally been cleared up.

Last week, just before the program's July 24 official start date, 78 vehicles were made ineligible when the Environmental Protection Agency upped the estimated fuel economy ratings on those vehicles. At the same time, the EPA suddenly lowered the fuel economy ratings for 86 other vehicles, making them eligible.

Acknowledging the confusion caused by the EPA's changes, the National Highway Traffic Safety Administration which manages the Clunkers program, said Thursday that trade-ins made between July 1 and July 24 of vehicles that became ineligible after the switcheroo will be allowed to keep their rebate, NHTSA spokesman Rae Tyson said.

The program officially began on July 24 but retroactively recognizes deals made beginning July 1.

This means that buyers of unclunked cars who jumped on the program's unofficial July 1 start will be pleased. They'll get to keep their rebate. Those who waited and now find that their cars are no longer eligible are out of luck.

But for people who traded in cars that only became eligible after July 24 the opposite is true: Those deals made before July 24 will not get rebates. Those made after that date will qualify, Tyson said.

Cash for Clunkers offers government rebates of up to $4,500 to drivers who trade in cars with combined city and highway fuel economy ratings of 18 MPG or less.

As of Wednesday, nearly 30,000 Clunker transactions had been been submitted to NHTSA, the agency said, requesting a total of almost $96 million in disbursements. The program will end on Nov. 1, or whenever its $1 billion budget has been depleted. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
Don't give my job to Staples Hundreds of U.S. Postal Service workers protested against experimental mini post offices at Staples. Here's why some Washington, D.C. workers don't like the deal. More
Tools to make your money grow You've started saving and built a financial base. Time for a few new strategies and tools to get your money to grow even more. From real estate to IRAs, here are some tips. More
Ready to start saving? Here's how to do it right When you are just starting out or finally starting to get serious about saving, the basics will get you far. Here are more than a dozen tips that will help you lay the base for building your net worth. More
Worry about the hackers you don't know 
Crime syndicates and government organizations pose a much greater cyber threat than renegade hacker groups like Anonymous. Play
GE CEO: Bringing jobs back to the U.S. 
Jeff Immelt says the U.S. is a cost competitive market for advanced manufacturing and that GE is bringing jobs back from Mexico. Play
Hamster wheel and wedgie-powered transit 
Red Bull Creation challenges hackers and engineers to invent new modes of transportation. Play

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.