A new federal program seems to have changed the very definition of the word "clunker."
A desire to get Americans buying cars and a mandate to shrink greenhouse gas emissions turned a fleet of old Audis, BMWs, Acuras and other luxury cars into clunkers overnight.
The Consumer Assistance to Recycle and Save Act of 2009 — also known as "Cash for Clunkers" — will offer vouchers of up to $4,500 for car owners who trade in their old fuel-slurping cars for new models that can really stretch a tank of gas.
But if you imagine a clunker as that old, rusted piece of junk that can barely accelerate on the freeway, think again. The list of potential clunkers includes a zippy 1997 Lexus SC 400 coupe and even a luxury 1998 Mercedes-Benz M-Class sport-utility vehicle.
To qualify, cars and trucks cannot get more than 18 mpg for combined city and highway fuel economy. Industry watchers say vehicles made in the mid-1990s are among the most gas-guzzling on the road. The trade-ins must also be drivable and built in or after 1984.
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But how to scrap a 1992 BMW 8 Series that's still purring? "No, that's a classic at this point," said Robert Ogust, manager of BMW of Fairfax, Va.
The National Highway Traffic Safety Administration will soon complete the final rules and jump-start the $1 billion program.
But the current requirements create a surprising list of cars and trucks.
"Some are even fairly new," said Philip Reed, consumer editor for Edmunds.com. Many are valued much higher than the $3,500-to-$4,500 rebate.
Owners of cars with limited production runs, such as the Buick Regal T-Type Turbo, will clearly pass on the program. So will collectors of exotic vehicles. Who would crush the legendary 1987 Porsche 911 Carrera?
Of course, looks can be deceiving. "Even though it looks good, sounds good and runs well, it's probably putting out a lot more emissions than the replacement vehicle would be," Reed said.
"Bucks for Trucks" might be a more accurate name. A new car getting at least 10 more mpg than the old car is eligible for the full $4,500 voucher. But truck owners need to improve their fuel economy by only 5 mpg for the maximum rebate.