Breaking News – U.S. Transportation Secretary Ray LaHood announced Thursday that after a wildly successful run, the cash for clunkers program will come to a close on Monday, August 24th at 8 p.m. EST. Get Coupon Here
Breaking News – Congress has passed the Bill. $2B additional funds for Cash for Clunkers program. Get Coupon Here
Cash For Clunkers Cash Could End THIS FRIDAY! Government stalls on additional funding. Hurry in to your local dealers today. – Get Coupon Here
What is the Car Allowance Rebate System?
President Obama will sign into law a program NHTSA is calling the Car Allowance Rebate System (CARS). This is a government program that helps you purchase a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle.
Under the CARS program, NHTSA is charged with rules for program implementation in 30 days. You may want to contact your local dealer.
5 Important Things to Know
3,500 – 4,500 Rebates for New Vehicle Purchases.
The Consumer Assistance to Recycle and Save and Act (CARS) H.R. 2751, more commonly known as Cash for Clunkers, is a proposed federal program that would encourage consumers to trade in gas-guzzlers for new cars that get better fuel economy. Modeled after several programs that have already been successfully implemented in Europe, similar legislation has already made it through the House of Representatives with a similar bill still under review in the U.S. Senate. The program would offer vouchers for consumers, allowing them to save thousands of dollars on a new-car purchase if trading in an older model and the new vehicle meets improved mpg requirements.
Though the legislation hasn’t yet been made into law, we’ve provided some details of the current version of the proposed Cash for Clunkers program passed by the House. The program would offer vouchers that allow consumers to save up to $4,500 on a new-car purchase. There are also various credits, in the form of vouchers, for trucks and work trucks.