On June 24, 2009, President Obama signed into law the Consumer Assistance to Recyle and Save ("CARS") Act of 2009, commonly referred to as the "cash for clunkers" program. CARS Act encourages consumers to trade in their older (8 to 25 year old) vehicles, for newer more fuel efficient models. CARS Act required the U.S. Department of Transportation, National Highway Trasportation Safety Administration ("NHTSA") to issue final regulations and implement the CARS by July 24, 2009.