BREAKING: House Adds $2 Billion To Cash-For-Clunkers, Senate Is Next
Well, that was quick. Just four days after the launch of the Car Allowance Rebate Systems (CARS) program, better known as "Cash for Clunkers," it appears that it may be suspended due to its own success.
Apparently eager buyers have blown through the $1 billion allocation, and dealers are worrying they won't get paid for clunkers they've already taken in and disabled.
We first saw the story late last night from our cohorts at Motor Authority. Then the alerts started flooding in. This morning's news carries rumors that the US Transportation Department will suspend the program, although there's been no definitive statement yet.
Late yesterday,...
Well, that was quick. Just four days after the launch of the Car Allowance Rebate Systems (CARS) program, better known as "Cash for Clunkers," it appears that it may be suspended due to its own success. Apparently eager buyers have blown through the $1 billion allocation, and dealers are worrying they won't get paid for clunkers they've already taken in and disabled. We first saw the story late last night from our cohorts at Motor Authority. Then the alerts started flooding in. This morning's news carries rumors that the US Transportation Department will suspend the program, although there's been no definitive statement yet. Late yesterday,... Read More
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