If you have an old gas guzzler in the driveway, it may now be worth a lot more than you think.

President Obama recently signed a new car sales stimulus bill into law.

The program, nicknamed "Cash for Clunkers" works like this: A car customer can get up to $4500 towards a new car if their trade-in is more than 10-years old and gets less than 18-miles per gallon in gas mileage.

There are a lot of stipulations, but Saturn of Raleigh Owner Bill Shotwell says this may be the final shot in the arm that the industry needs.

"It's not us creating some hokey-dokey, car sales gimmick," he said. "It is the real deal."

It's a deal both the government and the car industry are hoping you can't resist.

"We're hoping what this plan's gonna do is give us a big surge so that we can go out and order more cars and keep more jobs flowing and keep the economy rolling," Shotwell said.

But, there are a host of stipulations that come with the program.

The new car has to get at least four miles per gallon in better fuel economy than the old car.

Also, consumers must have owned the old car for at least one year and the title for the new car must be in the same name as the title for the old car.

There is also a limited amount of time to act.

"Cash for Clunkers" only lasts until November 1, or when the one billion dollars in government funds run out.

"I have an old car," shopper Ruth Epps said. "I'd be happy to part with it. I looked online to see if it qualified, but i don't think it qualified."

Satruday, Epps came to Saturn of Raleigh shopping for a car for her 16-year-old daughter.

Though the program won't help her, she thinks it will boost the car industry.

"You're offering people a better incentive, a little more money to go and buy a car," Epps said. "That's what i think people are looking for today, deals."

Not every dealer around the triangle is participating in the program.

The government funding doesn't kick in for about 10 days, so a dealer has to have money in the bank in order to cover some of the early transactions.

Other customers aren't so sure this is the right track.

Andrew Wesche just bought a used car, but he's sticker shocked over the billion dollar program.

"It's just more taxes," he said. "Everything keeps going up, so it's going to be interesting to pay for all that."

Critics also are concerned that the program is not just for American cars, which means the U.S. tax money could be spread around the world of car producers.

Shotwell said at the end of the day, he thinks the program will work.

"What's really gonna happen is, people are gonna buy cars, they're gonna get an unbelievable deal on a car and their tax dollars are then put back into the system," he said. "So it's a win for everybody."