By now every American most have heard of the Cash for Clunker program, a U.S. government program designed to get people out of their old, gas-guzzling vehicles and into a fuel-efficient vehicle which has gain widespreed attention.

The program went into effect the last week of July and because of its tremendous success has ran out funds. Within a week the $1billion that was allocated to the program has already been used up. The program is said to be so successful that the congress is endeavoring to extend it with an addition $2 billion.

Auto buyers can receive a CARS incentive up to $4,500 for their trade in value. A car owner qualifies for either a $3,500 or $4,500 voucher, depending on the vehicle and the mileage. Participants have to have owned the vehicle they are trading in for at least one year and have had it continuously insured for that year or longer. Verification must be provided.

To qualify for the program the car and truck must have been built in 1984 or be newer than that, and get no more than 18 miles per gallon in combined city and highway driving. In regard to the process, you need to have right documentation with you when going to the eligible dealership for your vehicle trade. The owners must.

Owing to the success of the program auto dealerships and auto manufacturers, like Toyota, have created Cash for Clunkers incentive program of their own. Toyota is now offer trade value of your old vehicle up to $4,500, plus factory incentives, towards the purchase or lease of a new Toyota, Lexus or Scion.

Car buyers can choose from among 17 available Toyota car, truck, SUV and hybrid models, five available Lexus models, or select from Scion’s full lineup of vehicles.

For more information about the government “Cash for Clunkers” program, visit www.cars.gov. and for info on the Toyota’s Cash for Clunker Incentive program visit www.http://www.toyota.com/cashforclunkers/

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