The bad news is that with nearly $2 billion currently logged into the Cars Allowance Rebate System (CARS) and an unknown number of backlogged deals, the U.S. Department of Transportation announced last Thursday that the Cash for Clunkers program will come to its’ end at 8:00 pm EDT today.

The good news is that top automotive retailers have stepped in to offer a new auto stimulus plan that offers up to $4500 to consumers.

Automotive retailers have launched AutoStimulusPlan.com, a dealer stimulus program to help consumers who were left behind by the government’s plan.  According to top officials, over 90% of consumers were not eligible for the government’s program, which left a lot of consumers unsatisfied. Now that the government’s “Cash for Clunkers” program is ending, many retailers are participating in the new stimulus plan that gives consumers up to $4500 of additional trade-in value towards the purchase of a new or used vehicle.

This new plan should help fix many of the problems with the government program.  All trade-ins older than 2007 are eligible – regardless of their current mpg – and consumers can purchase or lease any new or used vehicle with an improved fuel economy of 2mpg. This is a contrast to the government program, which officials say appealed to less than 10% of the consumer market because it excluded trade-ins with more than 18mpg, used cars and short term leasing, and most vehicles needed to get at least 4mpg improvement to qualify.

The Auto Stimulus Plan is a private sector program promoted by retailers to help consumers, the economy and the environment. To qualify, a consumer must select a new or pre-owned vehicle with a 2mpg improvement over their current vehicle, which is the same requirement the government program has for SUV’s, but it applies to all vehicles under the dealer plan.

The Auto Stimulus Plan gives consumers up to $4500 of additional trade-in value towards the purchase or lease of a new or used vehicle with improved fuel economy. The program has fewer rules, easier paperwork and no minimum mpg requirements for trade-ins.

Below is a summary of the program Requirements:

• Vehicle must be older than 2007
• Vehicle must be in working condition
• Vehicle has been owned and registered for at least 6 months
• No minimum mpg requirements
• Vehicles that are not eligible: salvaged vehicles and vehicles with floor or frame damage

Replacement Vehicle Requirements:

• Replacement vehicle must have a minimum of 2mpg improvement
• New and used vehicles qualify
• All makes and models
• No minimum mpg requirements
• No price restrictions
• This plan is not valid in combination with the governments C.A.R.S. program

The plan varies based on the year, make and model of the eligible vehicle. The plan may also vary in some states due to state laws that regulate automotive advertising and promotion.

The Auto Stimulus Plan was planned to end when the government’s program expired but they have extended the end date to November 1st, because of the sooner than expected termination.

Consumers can learn more about the program and begin connecting with participating retailers by visiting: www.AutoStimulusPlan.com.

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