A new federal program went into effect Monday: the so-called Cash for Clunkers. And a local automobile dealer expects the money allotted for the program to go quickly.

“It’s an effort by the government to spike car sales and the economy by letting somebody trade in their car that guzzles gas for a greener, more efficient car,” explained Laird Noller sales manager David Bennett.

In order to receive a discount — either $4,500 or $3,500 — on a new vehicle, your old vehicle must meet the criteria.

“It’s got to be 18 miles to the gallon or less right now. It’s got to be 25 years old or newer as far as the manufacturing date goes, and it will qualify,” Bennett said.

If your new automobile purchase gets 10 miles per gallon or more than your old clunker, you are eligible for $4,500 in savings. Less than that will receive $3,500.

Lawrence resident Mercedes Langford brought in her old Cadillac to trade because of her hefty gas bill. She said her new Hyundai Accent gets 32 miles per gallon.

“It makes me feel better … a lot better because usually we recycle and help the environment, and it’s for our future,” Langford said.

Congress allotted funds for about 250,000 cars. Bennett anticipates that the money for the clunkers might run out as quickly as this weekend.

The program applies to qualifying clunkers traded in July 1 through Nov. 1, 2009.