
Just a quick update on the Cash for Clunkers program — It seems that over 200 New York car dealers who have previously participated in the Cash for Clunkers program have announced that they will no longer be participating. Despite the program spurring sales, these dealers claim that the government is too slow at reimbursing the trade-in credit. In fact, they say that they have been paid for less that 2% of the credit they gave for these trade ins.
So does this mean there are thousands if not millions of dollars of money sitting in the Cash for Clunkers budget that should have been paid to dealers already? Perhaps Congress is going to have to approve another budget increase or we may see this program go to the dogs as faster than it came to success.
Read (Associated Press) via jalopnik
Tags: Cash for Clunkers, New York, rebate, withdraw



