Jim's used dealer angle is very interesting!.
Here in Canada we're still waiting and watching how things unfold in the US before we get anything similar...if it even happens at all?.
Here's some of the US eligibility details below..
Trade-in Vehicle
Is in drivable condition
Has been registered in your name and insured consistent with State law continuously for at least one year immediately prior to the date you trade in your vehicle under the Cash for Clunkers program
Was manufactured less than 25 years before the month you trade in your vehicle (for example, if you trade-in your vehicle any time in August 2009, your trade-in must have been manufactured in August 1984 or after); or, in the case of category 3 trucks, not later than model year 2001
Has a combined MPG of 18 or less (this does not apply to category 3 work trucks, i.e., very large pickup trucks and cargo vans)
New Vehicle
(Purchased or Leased)
Is new (i.e., legal title has not been transferred to anyone)
Has a manufacturer's suggested retail price of $45,000 or less prior to the addition of any options, features, taxes or destination charges
~ Pete