Clunkers program to end Monday
The federal government plans to end the popular cash for clunkers program Monday at 8 p.m., the Associated Press is reporting.
The program pays motorists up to $4,500 to trade in their gas guzzlers for new cars with better (though some say not very much better) mileage. It was also an economic stimulus program.
As of today, dealers have made deals worth $1.9 billion and the money was expected to run out in early September. The incentives are credited with sale of more than 457,000 vehicles, the AP wrote.
The Obama administration said it's tripled the number of people reviewing the applications so it can get dealers their money. They have complained about how slow the process has become. Some $145 million has already been paid to dealers.
Associated Press photo of clunkers being crushed







Comments
The big question is - what will happen to auto sales when the program ends?
My guess is sales tank, quick.
Posted by: bdc | August 21, 2009 9:29 AM
You donot need actual vouchers or coupons to partipate in this program. All dealers are required and government will
reimburse the fees for the clunkers
Henry
Blogger
www.cashforclunkersfacts.info
http://www.cashforclunkersfacts.info
Posted by: jwhenry | August 22, 2009 4:40 AM