Cash for Clunkers aka Car Allowance Rebate System (CARS). The government-sponsored Car Allowance Rebate System (CARS) was created to spur new car sales and boost the struggling auto industry. If you own a car or light truck that returns EPA combined fuel economy of 18 mpg or less, you may soon be able to scrap that vehicle in exchange for a $3,500 or $4,500 credit toward the purchase of a more fuel efficient new vehicle. In the following video, Kelley Blue Book Executive Editorial Director Jack R. Nerad helps clarify the government's Car Allowance Rebate System (CARS). For more automotive news, car reviews, and interviews visit http://www.kbb.com today.
