I did a little research last week about the Cash for Clunkers program to see if our Jeep qualified under their rules. After some digging, I found the list:
Be in driveable condition – check
Have been continuously insured consistent with State laws and registered to you for at least one year immediately prior to trade-in – check
Be manufactured less than 25 years before the date of the trade-in – check
Have a combined MPG of 18 or less – check
According to the Fed’s official site, our Cherokee gets a combined MPG of 16 miles per gallon, which would put it firmly in the qualifying category.
The next step was to check the Kelly Blue Book value for a trade-in price. According to their calculations, it’s worth a little over a grand in excellent condition and half of that in poor condition. Their private party value is still only half of the maximum CFC value, which makes it a prime candidate for the program.
I was torn, though, thinking about the Jeep being scrapped when it still has running and driving value left. It’s been a great vehicle for us in the five years we’ve had it, and the idea that somebody would chemically destroy the engine and then scrap the carcass filled me with sadness.
In the meantime, we’ve been watching the government seesaw back and forth over funding it with an additional $2 billion, as the original cash was depleted in a week’s time. Sadly, I think this may be yet another instance where timing will not be with us.