Compact cars and hybrids have proved to be top sellers under the government's trade-in program, according to government data.
The most popular cars sold was the Ford Focus, followed by the Honda Civic and Toyota Corolla, which are all compacts. The list of top-selling cars indicates that consumers are buying more fuel-efficient vehicles than what was expected.
Under the plan, vehicles bought after July 1 are eligible for refund vouchers worth $3,500 to $4,500 on traded-in gas guzzlers. The trade-in vehicle has to get a combined city and highway fuel economy rating of 18 miles per gallon or less.
Below are some guidelines set by the government to determine if your car qualifies for the Cash for Clunkers Program:
* Vehicle must be less than 25 years old on the trade-in date.
* Only the purchase or 5 year minimum lease of new vehicles qualify.
* Generally, trade-in vehicles must get 18 or fewer MPG (some very large pickup trucks and cargo vans have different requirements).
* Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in.
* Trade-in vehicles must be in drivable condition.
* The program runs from July 1, 2009 until Nov 1, 2009 or when the funds are exhausted, whichever comes first.
* The program requires the scrapping of the eligible trade-in vehicle and that the dealer disclose to the customer an estimate of the scrap value of the trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
* Customers will pay state tax on the rebate.
To obtain a customized appraisal for your specific vehicle, please click here.
For more detailed information on the Cash for Clunkers program, please click here.