Cash for Clunkers, what you need to know

The Cash for Clunkers legislation is currently in operation.  For those interested in learning more, the government provided a website highlighting all the details over what is expected to be a short-lived program, as funding is likely to run out soon enough.  

As posted on the official government site, The CAR Allowance Rebate System (CARS) is a $1 billion government program that helps consumers buy or lease a more environmentally-friendly vehicle from a participating dealer when they trade in a less fuel-efficient car or truck. The program is designed to energize the economy; boost auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation's roadways.

Consumers will be able to take advantage of this program and receive a $3,500 or $4,500 discount from the car dealer when they trade in their old vehicle and purchase or lease a new one.   Consumers do not need to register anywhere or at anytime for this program. 

Requirements

Click the following link to find out what is NHTSA doing to guard against fraud.  Allegations of fraud may be reported by calling our toll-free 24-hour hotline at 1-800-424-9071.  

QUALIFICATIONS 
Qualified consumers may participate in the CARS Program between July 1, 2009 and November 1, 2009 or when authorized funds are no longer available. Qualified consumers will receive a credit of $3,500 or $4,500 for an eligible trade-in toward the purchase of lease of an approved vehicle under CARS Program. Qualified consumers will receive the $3,500 or $4,500 credit at the time the purchase their new vehicle.

Dealers must provide consumers with any other advertised rebates or discounts in addition to the credit they receive through the CARS Program. Consumers should expect to conduct their deals at their dealership of choice, not on the Internet. Consumers should expect the dealers to provide their best estimate of the scrap value for their eligible trade-in vehicle. Dealers are allowed to deduct $50 from this value for their administrative costs.

Consumers should expect that all information collected through the CARS Program will be kept confidential. Social Security numbers are not required for a CARS transaction. Or visit this website for more information: http://www.cars.gov/   

GM has also posted additional information regarding the program on their website.  It reads,  For a limited time only, the Car Allowance Rebate System (or CARS -- commonly referred to as Cash for Clunkers or Customer Assistance to Recycle and Save) is available to customers at registered, participating dealers.   

GM is proud to offer a wide variety of eligible, gas-friendly vehicles to meet your needs. "There  never been a better time than now to purchase a new GM vehicle that  a sound investment for both your bottom line and the environment."  If it sounds like something you are interested in, they offer a handy tool to calculate an estimated CARS voucher value.

Visit this website here.