The new car buying rule that came into effect last week for automakers is aimed at making it easier for people to get new cars and make it easier to buy them, in the wake of the devastating earthquakes and fires that hit California last year.
Car buyers and sellers will be able to apply for a new, temporary, nonrefundable $200,000 credit for each new car that they buy.
The rules also will allow consumers to get a refund for their first car purchase if they have more than one vehicle.
The federal government already has set aside $1.3 trillion in incentives to help automakers, which includes $200 million in tax credits for people buying new cars.
But the new rules require automakers to offer a $200 credit for a first vehicle purchase.
If the credit is paid before the first vehicle is sold, it will be paid twice.
And the credit will be calculated in proportion to the vehicle price.
So for a car with a $100,000 price tag, the first $200 would be $200 for the credit, and $200 per subsequent $100 purchases.
If the credit exceeds $200 that vehicle is eligible for a $400 refund, which is the same as buying a new car.
The $200 annual credit will begin in July, and then the amount of the credit varies according to the price of the car, the number of cars sold, the manufacturer and the model year.
So for the $150,000 new-car price tag in 2017, the credit would be worth $200.
The rule also lets consumers pay for their car with credit card balances up to $10,000, which means that a car bought in August could be eligible for up to the $1,000-per-month credit.
If a car is sold within 30 days of being purchased, the refundable amount is $10.
It also includes the cost of gas and the cost for repairs, which will be reduced to the lowest amount that consumers can afford.
“The car buying incentives will help reduce the incentive costs for new cars, which can drive up the cost,” said Mark Reuss, director of the automotive finance program at the National Association of Manufacturers.
More on the earthquakes: The rules will apply to new-vehicle sales in 2019 and beyond, but they do not apply to any previously sold vehicle.
The government has said that some states may not be able get the incentives, including Alaska and Montana, which have been hit hard by the earthquakes.
Some automakers have already said they will try to offset some of the costs of the new tax credit program with lower prices.