Maximum cash for clunkers

Vehicles like these will help SUV and truck owners get the biggest bang for their trade-ins.

The “cash for clunkers” bill now making its way through Congress won’t do much for car owners who want to trade in for a more fuel efficient model. If you own an SUV, though, you could stand to gain a lot.

The reason this rule won’t help car buyers is that most cars, even older ones, aren’t inefficient enough to qualify as “clunkers.” The ones that do, meaning they get less than 18 mpg, are large luxury models that are probably worth more than the $4,500 credit for scrapping them.

The good news is that there have been big fuel economy gains in the SUV market. Even if SUV buyers just buy more SUVs, lots of gas will be saved.

Michael Robinet, head of vehicle forecasting for industry consultants CSM Worldwide, thinks the rules should be even less restrictive to allow more Americans to partake.

“There needs to be a cut-off before a certain model year,” said Robinet.

CNN