Cash for clunkers: Compare the fuel savings
If you are considering taking advantage of the government-funded cash for clunkers program that officially begins Monday, then it’s helpful to see how much you would save by trading in your clunker for a more fuel-efficient vehicle. The best savings from this program is through the voucher for the $3,500 or $4,500 depending on how many miles you increase in a new car, but additional savings come from how much more money you will have in your pocket annually from the fuel savings.
The chart below can help you see how much money you could save at the pump. To compare two vehicles, first look up their overall miles per gallon at fueleconomy.gov for your current car and the car you are interested in purchasing. Then locate the overall mpg figure for one vehicle on one axis of this chart and the mpg for the other vehicle on the other. (It doesn't matter which is which.) The box where the two intersect shows how much money you'd save per year, assuming you drive 12,000 miles and gasoline costs $2.50 a gallon for regular fuel.
| mpg | 12 | 14 | 16 | 18 | 20 | 22 |
|---|---|---|---|---|---|---|
| 12 | 0 | $357 | $625 | $833 | $1,000 | $1,136 |
| 14 | $357 | 0 | $268 | $476 | $643 | $779 |
| 16 | $625 | $268 | 0 | $208 | $375 | $511 |
| 18 | $833 | $476 | $208 | 0 | $167 | $303 |
| 20 | $1,000 | $643 | $375 | $167 | 0 | $136 |
| 22 | $1,136 | $779 | $511 | $303 | $136 | 0 |
| 24 | $1,250 | $893 | $625 | $417 | $250 | $114 |
| 26 | $1,346 | $989 | $721 | $513 | $346 | $210 |
| 28 | $1,429 | $1,071 | $804 | $595 | $429 | $292 |
| 30 | $1,500 | $1,143 | $875 | $667 | $500 | $364 |
| 32 | $1,562 | $1,205 | $937 | $729 | $562 | $426 |
| 34 | $1,618 | $1,260 | $993 | $784 | $618 | $481 |
| mpg | 24 | 26 | 28 | 30 | 32 | 34 |
|---|---|---|---|---|---|---|
| 12 | $1,250 | $1,346 | $1,429 | $1,500 | $1,562 | $1,618 |
| 14 | $893 | $989 | $1,071 | $1,143 | $1,205 | $1,260 |
| 16 | $625 | $721 | $804 | $875 | $937 | $993 |
| 18 | $417 | $513 | $595 | $667 | $729 | $784 |
| 20 | $250 | $346 | $429 | $500 | $562 | $618 |
| 22 | $114 | $210 | $292 | $364 | $426 | $481 |
| 24 | 0 | $96 | $179 | $250 | $312 | $368 |
| 26 | $96 | 0 | $82 | $154 | $216 | $271 |
| 28 | $179 | $82 | 0 | $71 | $134 | $189 |
| 30 | $250 | $154 | $71 | 0 | $62 | $118 |
| 32 | $312 | $216 | $134 | $62 | 0 | $55 |
| 34 | $368 | $271 | $189 | $118 | $55 | 0 |
To see a complete list of Consumer Reports recommended models check out our ratings, available to online subscribers. For more information on the cash for clunkers program, see our guide.
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Posted by: saboth | Jul 24, 2009 12:01:47 PM
I went to Hyundai and bought an Elantra Touring by using my 1993 F150 for Cash for Clunkers. The truck averaged 14 mpg, and the car averages 26mpg. The sticker was $20k, but the "internet price" was $18,500. I got them to come down to $17,500, then they had $1,500 cash back, making it $16,000. Then I used my CFC of $4,500. After taxes, tags, dealer fees, I paid $12,300. And on top of that, the sales tax is deductable next year as an "above the line" deduction, further saving money. And on top of that, you get the salvage value of your vehicle mailed to you, after the dealer collects $50 for processing. (Probably only $100, but still).
Posted by: summertown | Jul 24, 2009 1:00:55 PM
I won't be participating in this deal. No, I don't drive a fuel efficient vehicle but it sure as heck is worth more than the 4500 they're offering. Add in to that how are we going to pay for it if the husband loses his job.
It might be 15 years old, but it looks good and gets the job done that I need. We'll talk about the less than normal mileage for a truck that old later. So for me its worth an occasional repair bill rather than a 500 a month payment.
Posted by: richmondva | Jul 24, 2009 5:05:38 PM
Summertown, don't be a hater. I encourage you to explore this program. You can check your cars value at kbb.com first, then - best case scenario - you could decide to buy a Chrysley, dodge or Jeep and double your rebate/credit (up to 9K). Plus you can talk them down first and then get any other additional incentives/discounts they offer. A friend of mine got the base model 2009 Jeep Patriot. The sticker price is 18K. He talked them down 1500 to 16500. Then he took advantage of the dealer incentives of $4500 which got it to 12K, then he used his 9K cr3edit from CARS. Total price paid was $3,000 for a brand new 2009 Jeep Patriot. He could keep it for 2 years and trade it in for a better deal.
Its a good program if you know what you are looking for.....
Posted by: Jason Bennett | Jul 27, 2009 11:51:21 AM
@richmondva
How did your friend get $9k from the CARS program? I thought the limit was $4500.
Posted by: ren | Jul 27, 2009 9:19:19 PM
Hey I drive a 1995 2.0L 4 cylinder 5 speed Toyota Camry I bought used, third owner--put 60k miles on it in 3 years so far.
It gets 36 MPG hwy at 60MPH (I do ONLY HWY driving and keep an eye on MPG). I stay outa the way of race-car idiots and just hang loose at 60MPH. Local driving is 30-32MPG but I once had a job delivering sushi over this one small mountain in SE NY near the city--work was one side and town was the other, where I got 23MPG, so whatever, I just thought I'd mention this to anyone gonna buy a used car--I ain't but hardly had to put much into repairs--(knock e-wood) and it's got 200,000 miles as of about next week--please pray it stays good cuz I'm broke for repairs if they did come.
I had an 89 Camry before that--same story til I had to sell it to go to England for my sins the key is manual tranny and the 95 Camry anyway rocks. I hate we are a throw away society sorry detroit but I'll be staying with old cars eh
Posted by: MisterBH | Jul 28, 2009 3:38:01 PM
I agree with summertown. Unless you're in the market for a new vehicle already, this program isn't actually that great. You're still left with the bill for a $25K or $30K vehicle.
If I trade my 99 Safari van on a small sport ute (say a Chevy Traverse) I'm only looking at an honest 4 or 5 mpg improvement in fuel mileage (the van gets an honest 18 highway at 75, the Traverse is "rated" at 24, so probably gets an honest 22mpg) AND I'm giving up a great deal of utility. I'm going to have to drive that Traverse for somewhere north of 20 years to even begin to recover my costs.
The van costs me about one car payment per year in repairs. It's no contest.
No thank you.
Posted by: jimlin | Aug 2, 2009 12:26:54 PM
I am looking into this mainly because I don't know how much farther I can push my Pathfinder. It's only 7 years old (2002) but it has over 154,000 miles on it. I have started spending a bit more over the past couple years to keep it running, and I know that there are larger repairs that are bound to come in the coming year, given the mileage on it. Being a New England driver, I prefer for us to have one vehilcle in our family that has 4wd/awd for the winter conditions. Our second car is a 2002 Infiniti i35 (bought used from in-laws) that is now over 100k miles, so I may be wise to replace the pathfinder now before I have to replace two cars at the same time.
Posted by: Ted | Aug 11, 2009 2:32:23 PM
I think it's a bit unfair that people who drive inefficient gas guzzlers are the ones who get a $3,500 to $4,500 cash back benefit from the Clunker Bill, plus, plus, plus $$$$!
We drivers of efficient vehicles are basically reimbursing the Clunker drivers for all the excessive gasoline that they needlessly consumed with their gas hogs. Less gasoline for the rest of us, and they get the bennies! GEEEEZ! Is that fair?
It obviously didn't make economic sense for conscientious folks to conserve gasonline for the past several years if the FEDS turn around and award extra cash to gas guzzlers.
We folks who've always been driving fuel-efficient vehicles get nothing, zilch, screwed for our thoughfulness!
You're very welcome!
Oh what a world!