The federal government’s cash-for-clunkers program has renewed the car-buying excitement into auto dealers’ showrooms during the weekend and Monday even while concerns surfaced about the complications surrounding the program and how long it will last.
The program provides vouchers ranging from $3,500 to $4,500 as an incentive for consumers to turn in older vehicles to buy more fuel-efficient cars. It runs through Nov. 1 or when the $1 billion that Congress allotted runs out. On Monday, the National Highway Traffic Safety Administration said it has processed 70 vouchers. The program is expected to fund about 250,000 transactions.
What’s especially intriguing is the new Cash for Clunkers program’s last-minute revision requiring car dealers to “transfer the trade-in vehicle to a disposal facility that will crush or shred it so that it will never be returned to the road, although parts of the vehicle, other than the engine block and drive train (unless the drive train is sold in separate parts), may be sold.”
Check out a full list of the Cash For Clunkers Eligible Cars.
July 28th, 2009 at 1:24 pm
You can get a bonus $450 when you trade in your car, not too many people know about it – tinyurl.com/clunkersextra
July 31st, 2009 at 7:40 am
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: http://tinyurl.com/ml9sdo