Cash for Clunkers

Guidelines on how to meet the auto insurance requirements under President Obama’s Car Allowance Rebate System (CARS), also known as the “Cash for Clunkers† program are expected to be available today at Administered by the National Highway Traffic Safety Administration (NHTSA), the program helps people purchase a new, more fuel efficient vehicle when they trade in a less fuel efficient vehicle. Depending on the difference in fuel economy between the new vehicle and the trade-in vehicle, people will get a credit of between $3,500 and $4,000 to help pay for the new vehicle. An important feature of the program is that the trade-in vehicle must have been registered and continuously insured for the past year. Check out I.I.I. facts and stats on auto insurance.

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