Car buyers have until Monday August 24 2009 to take advantage of the US Government Cash For Clunkers rebates on offer.  While the rebate offer has only been available for a month, much of the $3 Billion allocated to the program has been used up.  Originally $1 Billion was allocated but consumer demand used this up within a week and so the Government boosted the allocated funds.

The Cash for Clunkers program has been hailed a success for the struggling US auto industry.  It was the shot in the arm it needed to get the demand for new cars heading up. 

Government officials have confirmed that the rebate will not be extended past August 24 and applications for rebates after this date will not be accepted.  So make the most of the weekend and use this one-off benefit to update your car.

The Car Allowance Rebate System (CARS) is a new US Government program to help you pay for a new, more fuel efficient vehicle from a participating dealer when you trade in a less fuel efficient vehicle.  This Government initiative will give a real boost to the struggling US Auto Industry and hopefully make a significant reduction in green house gas emissions from cars in the longer term.

Depending on your old vehicle, you may be eligible to receive an incentive of up to $4,500.  Your old vehicle must have a higher MPG (miles per gallon) and the new vehicle you purchase must have a relatively low MPG which results in a overall MPG improvement.

So what are you waiting for – go on and trade-in your gas guzzler and take advantage of this once-off hand-out from the Government.