FORT SMITH, Ark. -
Car dealers all over are talking about a new government program that will cut the price of a new vehicle if you trade in your old, fuel-guzzling clunker; but drivers aren't sure if they'll be cashing in.
On Wednesday, President Obama signed into law the Car Allowance Rebate System, which was designed to invigorate car sales while also reducing the number of fuel-inefficient vehicles on the road.
"We really do feel like it's going to be a great shot in the arm for the economy as well as for consumers," said Bradford Randall, the general manager of Randall Ford in Fort Smith.
Drivers who trade in a qualifying vehicle will receive a $3,500 or $4,500 rebate toward the purchase of a new vehicle, as long as it gets better gas mileage. According to CARS.gov, new cars and trucks need to have around 18 mpg to qualify; there are separate qualifications for work vehicles.
"Twenty of our vehicle line models qualify, trucks included, so whether it's a work truck or your family car they all pretty much qualify as long as you get better fuel economy then in your older vehicle," said Randall.
Drivers we talked to weren't so sure they would cash in, though. Vehicles that are traded in through the program are scrapped, to get inefficient cars off the streets for good. And most people driving cars old enough to qualify aren't in a position to afford a new vehicle.
"I love my car, but I really don't get good gas mileage at all," said driver Julia Brock. "But of course at this time I'm unable to buy a new car."
The program won't appear at local dealers until about mid-July, and will last through November first, or until the money runs out. If you'd like to know more, there are two government websites that can help; www.CARS.gov and www.FuelEconomy.gov.
On Wednesday, President Obama signed into law the Car Allowance Rebate System, which was designed to invigorate car sales while also reducing the number of fuel-inefficient vehicles on the road.
"We really do feel like it's going to be a great shot in the arm for the economy as well as for consumers," said Bradford Randall, the general manager of Randall Ford in Fort Smith.
Drivers who trade in a qualifying vehicle will receive a $3,500 or $4,500 rebate toward the purchase of a new vehicle, as long as it gets better gas mileage. According to CARS.gov, new cars and trucks need to have around 18 mpg to qualify; there are separate qualifications for work vehicles.
"Twenty of our vehicle line models qualify, trucks included, so whether it's a work truck or your family car they all pretty much qualify as long as you get better fuel economy then in your older vehicle," said Randall.
Drivers we talked to weren't so sure they would cash in, though. Vehicles that are traded in through the program are scrapped, to get inefficient cars off the streets for good. And most people driving cars old enough to qualify aren't in a position to afford a new vehicle.
"I love my car, but I really don't get good gas mileage at all," said driver Julia Brock. "But of course at this time I'm unable to buy a new car."
The program won't appear at local dealers until about mid-July, and will last through November first, or until the money runs out. If you'd like to know more, there are two government websites that can help; www.CARS.gov and www.FuelEconomy.gov.
