On June 25, 2009, President Obama signed into law the “Cash for Clunkers” program, now dubbed “CARS” (for Cars Allowance Rebate System). As has been advertised in the media, you will be able to turn in your older car or truck and receive a government rebate when you buy or lease a more fuel efficient new car or truck. The program, which is to run from July 1, 2009 until November 1, 2009, was allocated $1 Billion by the federal government.