Hood: Beware of CARS scams
JACKSON — Attorney General Jim Hood is warning consumers of potential scams associated with the new federal incentive program CARS.
The CAR Allowance Rebate System (CARS), also referred to as Cash for Clunkers, is a $1-billion federal government program designed to help consumers buy or lease a more environmentally-friendly vehicles from a participating dealer when they trade in a less fuel-efficient car or truck. Beginning July 27, consumers will be able to take advantage of this program and receive a $3,500 or $4,500 discount from the car dealer when they trade in their old vehicle and purchase or lease a new one.
Consumers do not need to register anywhere or at anytime for this program. Only dealers must register.
Hood is concerned that scam artists may try to trick consumers into registering or pre-qualifying their car or signing up on a website for the program. As with economic stimulus scams and common IRS scams, this is another attempt to get consumers to give their personal information, advised Hood.
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