Cash for Clunkers Changed

So it seems the name we all know and love is being changed to something much more boring and diplomatic....Cash for Clunkers is officially changing to Car Allowance Rebate System, which does translate into a good acronym though, CARS!

So from a neat name to a cool acronym it is, and here are some of the details:

President Obama signed into law a program the National Highway Traffic Safety Administration (NHTSA) is calling the Car Allowance Rebate System (CARS). This is a federal program that helps you purchase a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle.

While the CARS Act makes transactions on and after July 1 potentially eligible for credits under the CARS program, interested dealers and consumers may want to wait until all of the detailed issues that must be addressed in the implementing regulations are resolved and the final rule is issued. Issuance will occur around July 24.

I think I liked cash for clunkers better but I think CARS will grow on me, the bottom line is that if you want to get rid of your old junker you should take advantage of this new program and help make the world a better place.