4 Car Cash

4 Car Cash

4 Car Cash

Between July 1, 2009 and November 1, 2009, certain car owners are eligible to receive an instant cash rebate between $3,500 and $4,500 for purchasing or leasing a new vehicle while simultaneously trading in their old vehicles under the provisions of the Car Allowance Rebate System (CARS). The CARS program (also coined as the “Cash for Clunkers” program) was signed into law by President Obama as part of the Consumer Assistance to Recycle and Save Act of 2009 and is administered by the National Highway Traffic Safety Administration.

How to Participate in the CARS Program

The instant rebate is only available on the purchase or lease of new vehicles from participating dealers. Participating dealers will apply a credit to reduce the price paid at the time of the purchase or lease if the program requirements are met. A $3,500 instant rebate is available for a new vehicle if it is more fuel efficient than the owner’s old vehicle by at least four (4) miles per gallon. Similarly, a $4,500 instant rebate is available if the new vehicle is more fuel efficient than the owner’s old vehicle by at least ten (10) miles per gallon. No vouchers are needed and there are no requirements to sign up or otherwise enroll in this program. It is the dealer’s responsibility to make sure the program requirements are met; they will then seek reimbursement directly from the Federal Government.