First let me say hey, newby 1st post. Great site, I've been lurkin for about a week. I'm considering this program to trade my 99 Jeep Cherokee in for a new Taco.
Your vehicle doesn't have to get at least 10mpg more than the vehicle you are trading in. It depends on the size & type of vehicle. For example: I can trade my 99 Cherokee in for another "light duty truck" (see Taco) and get the full $4500, because my Jeep is rated for a combined 16mpg, & the Taco is rated a combined 18, which meets the required 2mpg difference for "light duty trucks".
Go to http://www.fueleconomy.gov/feg/sbs.htm
Hope that helps. Again, great site, I'll probably be posting more as I get ready to buy a Taco.
Originally Posted by dexterdog
No, but my '87 F250 is and it's going bye bye. Besides the U.S. will just borrow more money from China.
The final ruling on the program isn't until July 24th. To get the full $4,500 the vehicle you purchase has to get at least 10 mpg more than the vehicle you are trading in when it was new. Unfortunately, even a new V6 Tacoma that I want doesn't get 10 mpg more than my old 6.9 oil burner so I will have to settle for $3,500.