Cash for Clunkers Program 2009: (CARS)

The Cash for Clunkers Program 2009 or CARS, which has been unveiled by Federal authorities is now underway and is billed as a win for not only drivers and automakers, but also for the environment as well. The program gives those an incentive wishing to trade up.

The Cash for Clunkers Program 2009 will offer drivers the chance to get $3,500 to $4,500 credit when trading in their old cars that drinks too much gas, these cars would have to have a combined fuel economy of 18 miles per gallon or less. They will have to purchase a new vehicle, which is far more fuel-efficient.

The amount of credit you receive depends on the fuel efficiency of the new vehicle. The new cars have to have a combined fuel economy of 22 mpg, if you are looking to purchase a new SUV, then its combined fuel economy will have to be more than 18 mpg.

According to CNN, CARS started back on July 1, but many autodealers have taken their time to embrace the program, as they did not fully understand it. The final rules for the program were published on Friday.

For all the details on the CARS program, visit The National Highway Traffic Safety Administration