Springfield, Illinois—Monday, July 27, marked the first day of President Obama’s “cash for clunkers” program. You may have heard information about this program on television or radio advertisements from participating car dealers. According to the official program Web site, www.cars.gov, the CAR Allowance Rebate System (CARS) is:

“…is a $1 billion government program that helps consumers buy or lease a more environmentally-friendly vehicle from a participating dealer when they trade in a less fuel-efficient car or truck. The program is designed to energize the economy; boost auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation's roadways.”

Participants in this program are given a rebate of $3500 or $4000 towards the purchase of a new car with better gas mileage. Here are a few facts from www.cars.gov that may be helpful when determining if you own a vehicle that could qualify for the program.

• 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 MPG or less (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
• Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
• The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.

For more information on the program and to see if your car qualifies, visit the government Web site at http://www.cars.gov. Click here to see a full list of all Illinois car dealers are that participating in the program!