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How CARS works...The Car Allowance Rebate System (CARS) is a government program that allows consumers to trade in their older non-fuel efficient vehicles at dealerships in return for a voucher and use it to purchase a newer more fuel efficient vehicle at participating CARS dealerships. HERE’S SOME ELIGIBILITY FACTS:• The 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 • Consumers don't need a voucher, car dealers can apply a credit at purchase • The program runs from July 1, 2009 through Nov 1, 2009 • The vehicle that the consumer is trading in is required to be destroyed. Therefore, the value you negotiate with the consumer for their trade in is not likely to exceed its scrap value. The law requires the car dealer to disclose to the consumer and estimate of the scrap value of the trade-in vehicle.
$3,500 VALUE• Passenger vehicle must get at least 4 mpg higher then previous vehicle • Category 1 Truck must be at least 2 mpg higher than previous vehicle • Category 2 truck must be at least 1 mpg higher
$4,500 VALUE• Passenger vehicle must get at least 10 mpg higher then previous vehicle • Category 1 Truck must be at least 5 mpg higher than previous vehicle • Category 2 truck must be at least 2 mpg higher than previous vehicle
You, the car dealership, are responsible for bringing the vehicle to a compliant disposal facility!
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