What is Cash for Clunkers?

Cash for Clunkers, otherwise known as the Car Allowance Rebate System (CARS), is a government program that helps you purchase a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle.

5 Important Details

• Your vehicle must be less than 25 years old on the trade-in date
• Only available on the purchase or lease of a new vehicle
• Trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
• Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
• You don’t need a voucher, dealers will apply a credit at purchase

Timeline

• July 24, 2009 - Bill Signed into Law
• Late July, 2009 - Target for Program Implementation
• November 1, 2009 - Program Ends

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