Recently, an important new program was created called Car Allowance Rebate System. The program is designed to help you purchase a new, more fuel efficient vehicle when you trade in a less fuel efficient vehicle between the program's July launch and its' end on November 1, 2009. GM is pleased to take part in this program with many outstanding new, fuel-efficient vehicles. A more green, fuel-efficient fleet is a core element to our ongoing reinvention and the CARS program supports that mission.
Eligible trade-in vehicle/new vehicle combinations offer buyers U.S. Government-issued vouchers for amounts between $3,500 and $4,500 off the purchase price of a new vehicle. The voucher transaction and credit toward the purchase price of your vehicle is handled by participating dealers who have to meet the requirements set forth by the National Highway Traffic and Safety Administration (or NHTSA). You don't have to sign up or enroll in any program. The voucher transaction is conducted between the dealer and the NHTSA. Participating GM dealers will be announced soon. In the meantime, please feel free to contact your local GM dealer to inquire about their planned participation in CARS.
Here's what to expect of the CARS offer process when you bring in your eligible trade-in vehicle to purchase a new vehicle at your participating dealer:
1-Bring the title, registration and insurance papers showing continuous registration and insurance coverage for the past full year.
2-When you buy a new vehicle, the dealer handles the submission of all required information to NHTSA.
3-NHTSA ensures that your purchase meets the requirements.
4-About 10 days later, NHTSA will issue a financial credit to the dealer—assuming all program requirements have been met.
5-That credit will be applied to the purchase price of your vehicle.
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