Are you thinking of trading in your current vehicle? Then take advantage of the Car Allowance Rebate System (CARS), a federal program that helps you buy or lease a more environmentally-friendly vehicle from dealers when you trade in a less fuel-efficient car or truck. Popularly known as the ‘Cash for Clunkers’, this is a credit program meant for purchasing or leasing new fuel efficient cars. The main plus point of this program is that the consumers do not have to register anywhere or at any time for this program..

In simple terms, the CARS is basically a $1 billion government program through which the consumers can get a $3,500 or $4,500 discount from the dealer when they trade in their old vehicle and buy or lease a new one. Here are a few important points to keep in mind to utilize the benefits of this program..

• The vehicle must be less than 25 years old on the trade-in date
• Only purchase or lease of new vehicles qualify
• Generally, 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
• The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.
• Last but not the least, the CARS program runs through November 1, 2009 or when the funds are exhausted, whichever comes first

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Log on to www.cars.gov to know more about the program. The CARS program has been envisaged a program aimed at strengthening the economy, improving auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation’s roadways. Take advantage of this Limited Period Offer and go Green!   Enjoy!