The U.S. government has officially launched the CARS website, which lays out the rules for its new Car Allowance Rebate System (CARS) program. The final eligibility requirements for the program earlier were released today and can be found here. But for those who don’t have the time to go through the rules in detail, you can get a quick summary after the jump…

• Your vehicle must have been manufactured less than 25 years before the date you trade it in.
• Trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements).
• Your vehicle must be in drivable condition.
• Only the purchase or lease of new vehicles qualify.
• Trade-in vehicles must be registered and insured continuously to the same owner for the full year preceding the trade-in.
• The rebate recieved from the trade in only applies to vehicles with a base (MSRP) price of $45,000 or less (exclusive of any accessories, optional equipment, taxes or destination charges).
• You don’t need a voucher, dealers will apply a credit at purchase.
• Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.

If you qualify for the rebate, your trade-in vehicle will be scrapped by the dealer. The dealer is then required to disclose to you an estimate of the scrap value of your trade-in. The scrap value will then be added to the rebate, and not in place of it.