If you want to get rid of your gas guzzling older car that you paid off long ago for a new fuel efficient car with a nice monthly payment, time is running out - the government announced that the popular "cash for clunkers" program would end at 5 p.m. Pacific time Monday.

The government program takes $3,500 to $4,500 off the price of a new car after you haggle for your best deal.

According to a projection by J.D. Power & Associates, sales will top 1 million vehicles in August, the first time in a year that that milepost will have been reached.

The program is supposed to stimulate the economy, improve fuel efficiency and reduce pollution. Three fro one.And it has cost $3 billion, sold 700,000 vehicle sales, and car dealers will collect $1.9 billion in rebates, according to the LAT.


Not all cars are eligible. Full information is available at www.cars.gov.

Trade-ins must:

* Be no older than 25 years, based on manufacture date.

* Have had a combined fuel economy of 18 mpg or less when new.

* Have been registered by the owner for at least one year.

* Have been continuously insured for at least one year.

* Have a clean title with no outstanding loans.

* Be drivable.

New cars must:

* Get at least 4 mpg more than the trade-in to qualify for a $3,500 rebate.

* Get at least 10 mpg more than the trade-in to qualify for a $4,500 rebate.

* Have a manufacturer's suggested retail price of no more than $45,000.

New trucks and SUVs must:

* Get at least 2 mpg more than the trade-in to qualify for a $3,500 rebate.

* Get at least 5 mpg more than the trade-in to qualify for a $4,500 rebate.

* Have a manufacturer's suggested retail price of no more than $45,000.

Source: U.S. Department of Transportation