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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.
Under the CARS program, NHTSA is charged with rules for program implementation in 30 days.
Check back to this site often for updates and further information.
5 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
How Will Cars Work?
STEP 1: Visit http://gollingpontiacgmc.com/ for current information about the program.
STEP 2: Determine if you qualify, then shop for a new car.
STEP 3: Bring the title, registration and insurance papers showing continuous registration and insurance coverage for the past full year.
STEP 4: When you buy or lease a new vehicle, the dealer handles the submission of all required information to NHTSA.
STEP 5: NHTSA ensures that your purchase meets the requirements.
STEP 6: About 10 days later, NHTSA will issue a financial credit to the dealer—assuming all program requirements have been met.
Helpful QA For Consumers
What is the Car Allowance Rebate System?
1) The Car Allowance Rebate System is a new program from the government that will help you pay for a new, more fuel efficient car or truck from a participating dealer when you trade in a less fuel efficient car or truck.
2) What is NHTSA doing to implement the program?
As required under the law, NHTSA will publish rules for the program in 30 days. We are currently working closely with manufacturers, dealers, and disposal facilities to get a workable, effective program up and running.
3)Do I need to get a voucher or sign up for this program?
No. You do not need a voucher and you are not required to sign up or enroll in this program. Participating new car dealers will apply a credit, reducing the price you pay at the time of your purchase or lease, provided the vehicle you buy or lease and the vehicle you trade in meet the program requirements. The dealer will then obtain reimbursement from the government.
4) How do I know if a dealer is participating in the program?
The law requires dealers to be registered to participate in the program.
5) How do I know if my car or truck is an eligible trade-in vehicle?
There are several requirements (but you also have to meet certain conditions for the car or truck you wish to buy). We can help you determine whether you have an eligible trade in vehicle.
Your trade-in vehicle must:
* have been manufactured less than 25 years before the date you trade it in
* have a new combined city/highway fuel economy of 18 miles per gallon or less
* be in drivable condition
* be continuously insured and registered to the same owner for the full year preceding the trade-in
6) How do I find out when my vehicle was manufactured?
The month and year of manufacture (e.g., 1-96 (January 1996)) appear on the safety standard certification label that is located on the frame or edge of the drivers door in most vehicles.
7) How do I find out the combined city/highway fuel economy rating of my trade-in vehicle?
Go to http://www.fueleconomy.gov/feg/sbs.htm and click on the model year of your vehicle, the make, and then the model. Under the words “ESTIMATED NEW EPA MPG” in the red banner, there is a red number with the word “COMBINED” under it. That is the new combined city/highway fuel economy for your vehicle. You may then enter the make, model, and model year of a new vehicle you may want to buy and see its combined MPG for comparison.
Does the program apply if I want to lease a vehicle, or must I purchase a vehicle?
Under the program, you may purchase a new vehicle or lease a new vehicle, provided the lease period for the new vehicle is at least five years.
9) Is there a cap on the price of the vehicle I can buy or lease under the program?
Yes. The manufacturer’s suggested retail price cannot exceed $45,000.
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After more than a year of declining car sales and closing dealerships, the auto industry may be getting a second wind. With the success of “Cash for Clunkers”, cars sales are on the rise. Officially known as the Car Allowance Rebate System, the program rewards people for turning in older gas guzzlers for new, more fuel efficient vehicles. Americans across the country can get a $3,500 to $4,500 voucher to replace their clunker. The exact credit depends on how much more fuel efficient the new vehicle is. Experts say “Cash for Clunkers” has been the most successful of all the government stimulus plans this year.
Cash for Clunkers Generates New Traffic Americans Across the Country Head to Local Dealerships, Car Sales on the Rise
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