Just Fill Out the Form Below to Get
Started on Trading that Old Car in For Something
New!
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Important Things to Know
Your 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
You don't need a voucher, dealers will apply a credit at purchase
Program runs through Nov 1, 2009 or when the funds are exhausted, whichever
comes first.
The vehicle that you are trading in is required to be destroyed. Therefore,
the value you negotiate with the dealer for your trade in is not likely to
exceed its scrap value. The law requires the dealer to disclose to you and
estimate of the scrap value of your trade-in vehicle.
What is the Car Allowance Rebate System?
President Obama signed 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. See the Frequently Asked Questions for
more details.
While the CARS Act makes transactions on and after July 1
potentially eligible for credits under the CARS program, interested
dealers and consumers may want to wait until all of the detailed issues
that must be addressed in the implementing regulations are resolved and
the final rule is issued. Issuance will occur around July
23.
For more
information please click
here to visit
the government site that details this
program.
