The “Cash for clunkers” program intended to jump start auto sales is in full gear. The Car Allowance Rebate System (CARS) allows consumers to trade in their gas guzzler for an instant credit toward the purchase of a more fuel-efficient vehicle based on specific qualifications.
All automakers are hoping to benefit from the potential sales surge. In particular, Chrysler and GM could benefit from a sales boost to coincide with their exit from bankruptcy.
If you are considering junking your old car and want to buy from an American brand, then check out our list of domestic vehicles that qualify for the Car Allowance Rebate System (CARS) program. All models listed are also Consumer Reports recommended, which means they must have performed well in Consumer Reports' tests, have average or better reliability, and, if crash-tested, provide good overall safety. In addition, we list the owner cost score, which factors in depreciation, fuel, interest, insurance, maintenance and repair, and taxes over the first five years. A much more detailed view of owner costs, for three, five, and eight years as well as full ratings, reliability, safety and more are available in the model overviews for each new car (available to online subscribers).
For comparison, we have included the overall mpg from Consumer Reports’ tests to illustrate real-world fuel economy numbers. To judge the benefits from making a switch, we used these figures to calculate the annualized fuel costs based on 12,000 miles a year at an average price of $2.50 a gallon for gas. We assumed the trade-in vehicle had 18 mpg. If the overall EPA mpg is less, then the fuel savings would increase. (Compare your fuel economy scenario.)
|Make & model||EPA mpg||CR's overall mpg||Annual CR fuel costs||Minimum fuel savings||Cost of ownership score (1-5 years)|
|Chevrolet Malibu (4-cyl.)||26||25||1,200||513|
|Ford Escape (4-cyl.)||21||21||1,429||238|
|Ford Escape Hybrid||28||26||1,154||595|
|Ford Fusion (2010)||25||24||1,250||467||N/A|
|Ford Fusion Hybrid (2010)||39||34||882||897||N/A|
|Mercury Mariner hybrid||28||26||1,154||595|
|Saturn Aura XR V6||20||20||1,500||167|
For more information about the program, visit our Cash for clunkers special section. To get advice on whether it is the right time to buy a new car, see our post Is Cash for Clunkers for you? Visit our New car buying and leasing forum to share your experience and give advice to others making the trade.
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