With the overwhelming popularity of the Cash for Clunkers program, the government is making a number of changes to the Car Allowance Rebate System (CARS.) Here are a number of updates for those who still want to take advantage of this program.
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Secretary of Transportation Ray LaHood on the Car Allowance Rebate System (CARS,) or “Cash for Clunkers” program. It’s all about moving cars out of the showrooms, and the net result will be to help stimulate jobs in the U.S.
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The CARS final rule has been published to set forth requirements and procedures for the voluntary vehicle trade-in and purchase/lease program under the Consumer Assistance to Recycle and Save Act of 2009. This program helps consumers pay for a new, more fuel efficient car or truck from a participating dealer when they trade in a less fuel efficient car or truck.
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The Car Allowance Rebate System (CARS,) or “Cash For Clunkers” program is the federal program that helps consumers purchase a new, more efficient vehicle when an older, less efficient vehicle is traded in. Expect dealer showrooms to have increased traffic between now and November 1, and fewer polluting cars on the roads. But there are downsides as well.
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