Cash for Clunkers Law and Legal Definition
‘Cash for Clunkers’ is the colloquial name of the Consumer Assistance to Recycle and Save Program or the CARS program. The U.S. National Highway Safety Transportation Administration referred to this program as the Car Allowance Rebate System (CARS). The program is administered by the U.S. Secretary of Transportation.
Cash for Clunkers is a government economic incentive program that helped U.S. residents to purchase a new, more fuel-efficient vehicle when trading in a less fuel-efficient vehicle. The program was promoted as providing stimulus to the economy by boosting auto sales, and at the same time putting safer, cleaner and more fuel-efficient vehicles on the roadways.
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