Last minute clunker deals

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NEW YORK (CNNMoney.com) -- With the clocking winding down, you still can make a deal trading in your gas guzzler for a new, more fuel-efficient ride. But you'll have to make up your mind momentarily.

1. Act now

If you're trying to get your clunker in before the end of the program, you have to act quickly. And that means a lot more legwork.

Fewer dealerships will be offering this program. That's because dealerships are concerned they won't be able to collect the money from the government according to Jack Nerad of Kelley Blue Book.

Go to Cars.gov to see who's offering the program in your area. And call the dealership to make sure it's still accepting clunkers before you go over there.

Get your financing and paperwork in order before you go too. Remember, you need proof the car has been insured and registered in your name for a year. You'll also need a clear title -- this means it must be free of any liens.

2. Beware of unscrupulous dealers

As the program is winding down, dealerships are increasingly having people sign extra paperwork that holds them liable for the amount of the clunker incentive. Make sure you do not sign one of these documents says Phil Reed of Edmunds.com.

Before you sign on the dotted line, call your attorney and make sure everything makes sense to you. Also, do not leave the dealership without a car -- either your old clunker or your new fuel efficient vehicle.

The dealer is supposed to hand you the keys to your new car that day. Some people have been without any car at all for weeks. Keep an extra set of keys to your clunker so the dealer can't keep it hostage.

And finally, make sure you negotiate the price of the car you buy. Dealers are making money after all. The average profit per car for a dealership on a Cash for Clunkers deal is $1,350 according to Edmunds.com. Remember, although the government is offering incentives, that doesn't mean you don't have any leverage.

3. Evaluate your own financial needs

Just because the program is ending doesn't mean you should rush into this program. Evaluate your own financial needs. In some cases, limited inventory has driven up the cost of the replacement car to near or even above sticker prices. And this could eliminate the advantage of the program.

Bottom line -- you have to be able to afford to buy a new car. If you can only afford to buy a used car, the Cash for Clunkers program probably isn't for you. And check the true market value of your car at Edmunds.com or Kelly Blue Book. You may be able to get more money by selling it on your own.

4. Don't be disheartened

At the heart of this program, the fact is that Cash for Clunkers is nothing more than another incentive. And we've seen a lot of incentives before, like dealer cash or zero percent financing.

Experts say that we could very well see a similar incentive program rolled out in the near future. So, if you can't take advantage of this program now, or the timing just isn't right for your wallet, then just give it time. If you are in the market for a new car, and you don't have a clunker to trade-in, some experts say it's better to wait until prices get back to normal.

-- CNN's Jen Haley contributed to this article.

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