The federal Car Allowance Rebate System (CARS), also known as Cash for Clunkers, officially kicks off with a media event at the headquarters of the Department of Transportation today - and at car dealerships across the country, many of which have already started accepting old cars. Toyota and Mazda dealers will now greet the event with new incentives.
Kicking Tires reports, "Toyota is one of the few automakers we've heard of that will offer five-year leases, created just for the program." Program rules specify that leases have to stretch over at least five years to qualify. "The 60-month leases are available for the Yaris, Corolla, Camry, RAV4 and Tacoma. One sample offer for a Yaris lease lists a headline-grabbing monthly payment of $79 per month for 60 months." The leases require a down payment of $5,229, but for those able to turn in a clunker for the full $4,500 rebate, that down payment would be just $729.
Mazda dealerships will add money to the government's rebate. In a press release, the automaker explains, "Mazda is offering a $500 cash incentive on top of the $3,500 or $4,500 CARS incentive" on every Mazda model, while "Additional incentives on individual models are also available."
Kicking Tires notes a few good deals that arise from Mazda's offer. With the full $4,500 rebate plus Mazda's $500 kicker, for instance, that 2010 Mazda3 now starts at just $10,045. The redesigned 2009 Mazda6, meanwhile, can be purchased with "low financing of 2.9% for 60 months, plus $1,500 cash back. Add another $500, and that takes the $18,550 starting price to $13,050, assuming the $3,500 clunker rebate."
If you're interested in the Cash for Clunkers program, check out our Cash for Clunkers page, and our rundown of the best Cash for Clunkers deals. If you already know which car you want, you can contact local dealers here. For the latest news on the program, check out Cash for Clunkers news.



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