Is the CARS program available to companies or business entities that want to improve their aging fleets?
Yes. However, the CARS Act specifies that not more than one credit may be issued to a single person (which includes corporations, companies, associations, firms, partnerships, societies, joint stock companies, and individuals), not more than one credit may be issued for joint registered owners of a single eligible trade-in vehicle, and only one credit under this program may be applied toward the purchase or lease of any single new vehicle. Consequently, a company or business entity may engage in only one CARS transaction.
