[SVXdc]

The car you buy has to be new, but I think that a new 2008 (there are still a few out there) would qualify. The new car can be leased, but the term must be for at least 5 years.

The program pays either $3500 or $4500, not a range. The amount is based on the difference in MPG between the "clunker" and your new car: When both are passenger cars, and the MPG difference is "at least 4, but less than 10," you'll get the smaller amount. For a difference of 10 or more MPG you'll get the larger amount. There are other rules for combinations with trucks.

The "clunker" must have been "continuously insured and registered to the same owner for the full year preceding the trade-in." So no picking up a wreck just prior to taking this deal.

They're still nailing down the details, and have until July 24 to finalize them. But transactions starting July 1 are potentially eligible.

I could actually do this -- not with my SVX (which they do rate at the required 18 mpg, but doesn't qualify since it's no longer drivable) -- but with the car I'm currently driving (don't ask what it is. Really).

Even $3500 would be the best I could probably sell it for (and then, only after doing some repairs). Under this deal, I'd get not only that credit from the govt., but also the dealer's trade-in allowance (which the FAQs warn will likely be only the scrap value).

The downside is that I wanted to look for a "slightly" used car, not new. Maybe if I can find a great deal on a 2008...