On June 25, President Obama finally approved the long-awaited 'Cash for Clunkers' program, also known as the CARS Act, which allows consumers to receive a credit of up to $4,500 for trading in their gas guzzlers for a brand-new fuel-efficient vehicle.

Just like the recent vouchers the government issued to assist consumers in converting from analog to digital TV, this incentive will only be around for a short time.

While the CARS Act unofficially kicks off on July 1, the National Highway Traffic Safety Administration will not be releasing the official program rules until July 23. So, you can choose to move forward now or wait until all of the rules are finalized.

The CARS Act is expected to run until November 1. Your local dealers will be responsible for administering the credit, as long as they have agreed to participate. For now, you must contact your local dealer to find out, since the government is still recruiting new-car dealers to participate.

To access the most current information on how you qualify for the program, visit www.cars.gov. You can even sign up to receive e-mail updates from NHTSA regarding the program. And for those who don't have access to the Web or if you still have questions about the program, contact 866-CAR-7891on July 1.

To join Jeff Fortson's next Saturday-morning live car-buying forum, drive on over to www.jeffcars.com.