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US Government Suspends Cash For Clunkers! Could Run Out Of Cash By August 1st

Posted in auto industry, Car Buying, Car Deals, Cash for Clunkers, Emissions, Fuel-efficient, Gas Guzzlers, General, Newsworthy, Used Cars by Nathan Redden | July 30th, 2009 | 4 Responses |


Yesterday morning, multiple news sources were reporting that based on current activity, the Cash for Clunkers program could run out of said cash by September 1st. Come to find out, there are a lot more deals pending approval than expected, and the $1 billion allotted could be gone by as early as tomorrow.

The National Automobile Dealers Association (NADA) conducted a survey of 2,000 dealers and found among them roughly 25,000 deals still pending approval by the NHTSA. If this average holds true for the remaining 21,000 participating dealers, it could mean the goal of 250,000 cars sold has already been met (and possibly exceeded).

Expect a statement from the NHTSA shortly, and a shit-storm from the dealers. They were told to get out there and sell, sell, sell. The incentives have already been passed onto the customers and they are happily burning gas in their new ride. It was up to the dealer to jump through various hoops after the fact to get reimbursed for the program. Now many of them could be left holding the bag.


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4 Responses

  1. FuzzyPlushroom says:

    Yeah, this is offtopic, but I’m a Jalop: Wouldn’t you think it would be worth the recyclers’ while to pull out all valuable parts from a car? I’m talking fenders, taillights, everything. Looking at photos of crushed cars, there shouldn’t be jack shit left, because everything reusable should be… right? But that’s not the case.

  2. Nathan says:

    You are correct, Fuzzy. In fact, scrappers are allowed to recycle everything except for the drivetrain. This program shouldn’t be as wasteful as it seems. Plus, think of the huge infusion of second-hand parts now available.

  3. Nathan says:

    Oh, and Fuzzy… Welcome to Ridelust, it’s good to have you. Thanks.

  4. c0de says:

    Dear Mr. Fuzzy,
    HOW DARE YOU CALL YOURSELF A JALOP ?! a True Jalop my friend never, EVER accepts the idea that a car can be destroyed.. don’t salvage parts, salvage the whole car..after all, car heaven is already packed with douchebag/teenager “incidents”