These answers are based on the provisions of the Consumer Assistance to Recycle and Save Act of 2009.
What is the Car Allowance Rebate System?
The Car Allowance Rebate System is a new program from the government that will help you pay for a new, more fuel efficient car or truck from Jefferson Chevrolet when you trade in a less fuel efficient car or truck.
Do I need to get a voucher or sign up for this program?
No. You do not need a voucher and you are not required to sign up or enroll in this program. Jefferson Chevrolet 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. Jefferson Chevrolet will then obtain reimbursement from the government.
How do I know if my car or truck is an eligible trade-in vehicle?
There are several requirements (but you also have to meet certain conditions for the car or truck you wish to buy). Jefferson Chevrolet can help you determine whether you have an eligible trade in vehicle.
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
Note that work trucks (i.e., very large pickup trucks and cargo vans) have different requirements.
How do I find out when my vehicle was manufactured?
The month and year of manufacture (e.g., 1-96 (January 1996)) appear on the safety standard certification label that is located on the frame or edge of the driver’s door in most vehicles.
How do I find out the combined city/highway fuel economy rating of my trade-in vehicle?
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.
Does the program apply if I want to lease a vehicle, or must I purchase a vehicle?
Under the program, you may purchase a new vehicle or lease a new vehicle, provided the lease period for the new vehicle is at least five years.
Is there a cap on the price of the vehicle I can buy or lease under the program?
Yes. The manufacturer's suggested retail price cannot exceed $45,000.
Does the program apply if I want to buy a used car?
No. The program does not apply to the purchase of used vehicles.
What is the amount of the credit?
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.
