What is NHTSA doing to guard against fraud?
NHTSA is aware that some organizations have already begun to convey incorrect information about how dealers and individuals can participate in the CARS program. NHTSA is working to create a system that will provide payments only for eligible transactions under the CARS program. Under the law, NHTSA will make electronic funds transfers only to a registered dealer that has submitted the required proof of a completely eligible transaction. We will develop a registration system to identify licensed, franchised new vehicle dealers and to obtain the banking and tax identification information necessary for making secure electronic transfers. Only registered dealers will have access to the payment system.*Allegations of fraud may be reported by calling our toll-free hotline at 1-405-954-3700.
Important things to Know?
* To participate in the CARS program, you do not have to sign an agreement to pay back the dealer the CARS credit amount if the deal is rejected.
* You are required to leave your trade-in vehicle at the dealership and sign over the title to the trade-in vehicle at the time of the deal.
* The dealer must give you the new vehicle at the time of the deal.
* Your vehicle must be less than 25 years old on the trade-in date
* Only purchase or lease of new vehicles qualify.
* Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements).
* Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in.
* You don’t need a voucher, dealers will apply a credit at purchase.
* Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
*The program requires the scrapping of your eligible trade-in vehicle and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, minus $50 the dealer keeps for administrative fees, will be in addition to the rebate, and not in place of the rebate.