Oh my goodness… please be careful. The idea behind this program is filled with good intentions, but as usual, the government is one giant dumb ass and will probably make things worse for a lot of people. It makes the prospect of a new car very appealing often to those who cannot afford it, getting them deeper into financial trouble. If you can’t afford a newer car to begin with, please don’t do it. There are more reasons why I oppose this program, but they aren’t relevant to this thread, so I’ll refrain. Just don’t take anything the government hands you at face value. Think for yourself if this will be good for your wallet. To answer your question, those above covered it well. Good luck.