Cash for Clunkers
 

Interesting. I wonder if BMW will participate. For SUVs, you get $3500 if your new SUV gets 2 MPG better than the old and $4500 if it's 5 MPG better. Couldn't you theoretically just go buy a 1979 Suburban for $500, turn around and get the rebate on a new car ? Hmmm. :popcorn:

Senate passes 'cash for clunkers' program - Yahoo! Finance

You're on the ball with this update. ;) I have a 14-year old Rodeo that gets 14mpg... still running strong but I may go the minivan route with it.

And I thought they would put a restriction in like you had to own & insure the vehicle for at least a year prior.

Unfortunately there is a cap on the Retail cost of the vehicle. Its only 45K.
There are not many BMW's you can buy that cost under 45K out the door.

Does this work for CPO? Then you can get under 45k

I'm guessing it's probably for new cars but not for sure.

Yes, only for new cars. The Monroney label is used for retail pricing reference. So even deeply discounted executive or demonstrators do not qualify.