Cash for Clunkers
Information on the federal government’s Cash for Clunkers rebate program of rebates for new car purchases or leases
Cash for Clunkers FAQ
CARS [Cash for Clunkers] CreditWhat is the Car Allowance Rebate (Cash for Clunkers) System?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.What is the amount of the credit?The amount of the credit is $3,500 or $4,500, and generally depends on the type of vehicle you purchase and the difference in fuel economy between the purchased vehicle and the trade-in vehicle. Different requirements apply for work trucks. Read more
The Cash for Clunkers Law
TITLE XIII--CONSUMER ASSISTANCE TO RECYCLE AND SAVE PROGRAM Sec. 1301. Short Title- This title may be cited as the `Consumer Assistance to Recycle and Save Act of 2009'.Sec. 1302. Consumer Assistance to Recycle and Save Program [Cash for Clunkers] (a) EstablishmentThere is established in the National Highway Traffic Safety Administration a voluntary program to be known as the `Consumer Assistance to Recycle and Save Program' through which the Secretary, in accordance with this section and the regulations promulgated under subsection (d), shall--(1) authorize the issuance of an electronic voucher, subject to the specifications set forth in subsection (c), to offset the purchase price or lease price for a qualifying lease of a new fuel efficient automobile upon the surrender of an eligible trade-in vehicle to a dealer participating in the Program; Read more