Thursday, July 30, 2009

Cash-For-Clunkers Program May Be Suspended


"WASHINGTON — Four days after it launched, the popular cash-for-clunkers program has burned through its $950-million budget, sending the Obama administration scrambling to find additional money tonight and avoid a shutdown of the program.
Administration officials told Congress this evening that the plan would be suspended, triggering confusion and anger among thousands of dealers and car buyers across the country. Many dealers rushed to submit paperwork on pending trades, amid TV ads from automakers touting the program."
"The plan offering owners of old cars and trucks $3,500 or $4,500 toward a new, more-efficient vehicle has proven wildly popular, with 22,782 trades certified by federal officials since Monday. But the National Highway Traffic Safety Administration told dealers Wednesday that a vast majority of transactions submitted were being rejected for incomplete or illegible paperwork."

I own a 35 year old truck that I wouldn't part with for anything, thank you very much. While an EMP from a detonated nuke will fry newer rigs my computerless old beast will chug right along.


Blogger carstereis said...

Read this article: The Real Reason for the "Cash for Clunkers" Suspension. The ex car salesman blog shares exactly why they stopped the program. Even reports that some sales managers are calling asking for the money back because they were denied the rebate when the final paperwork was submitted but their car was already ruined by dumping a solution in the engine. They now have no car. Scary. See:

31/7/09 7:30 AM  

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