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Have bad credit? Have an old car you wanna get rid of? You need to get up to speed on a new government program called Cash for Clunkers.

The new program is designed to get people out of their old, gas-guzzling cars and into new environmentally friendly and fuel-efficient cars. Details of the “Car Allowance Rebate System” (CARS) or “cash for clunkers” program are now being released. News of the program has spread quicly and dealers have gone into high gear looking forward to increased sales thanks to the program. Unfortunately, in only ONE week the one BILLION dollars that were appropriated have already been used up. Congress is not scrambling to find additional money to keep the program afloat.

The great thing about this program is that it is intended for everyone, even those people with bad credit. If you have an old clunker sitting around that gets less than 18 miles per gallon you qualify for up to $4,500 in a “CARS” incentive.

Learn more about Cash for Clunker car loans now.