Cash For Clunkers has been over for over a week now, but only around 120,000 rebates have been processed so far. That means $500 million of the CARS program’s $3 billion has been spent, leaving dealers holding the tab on $2.5 billion in clunker deals. There are plenty of reasons for the hold up, starting [...]
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The hugely popular Cash for Clunkers or CARS program ended Monday night at 8:00 pm. Though the rebate system resulted in over 700,000 old, gas-hungry vehicles being traded in for an equal number of efficient, brand-new cars and trucks, many dealers are still scrambling to file the proper paperwork involved in getting their deals approved. [...]
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A staggering 450,000 clunkers have been traded in for new, fuel-efficient vehicles. While that’s great news for buyers, sellers and manufacturers alike, no one expected the CARS program to be so popular or so effective. After receiving an additional $2 billion in funding — upping the grand total to $3 billion — Cash for Clunkers [...]
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The Cash for Clunkers program, or CARS, has only been under way for a week, but the federal government has already handed out $35 million of the $1 billion available. Needless to say, plenty of people have taken advantage of the $4,500 vouchers toward new vehicles. According to ABC News, over 8,000 deals have already [...]
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According to the results of a new survey released by Dealix, auto dealers across the country say the new federal automotive incentive program has spurred interest in new car sales. Despite the fact that the rules governing the program have yet to be released by the National Highway Transportation Safety Administration, three out of 10 [...]
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It looks like Chrysler is looking to sweeten the CARS deal. The company just announced a month-long program to spur sales by offering an additional $4,500 for trade-ins regardless of whether or not the old vehicle meets federal requirements for the rebate system. For buyers looking for better financing instead of cold hard cash, the [...]
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The Wall Street Journal recently ran an article saying the month-long interim period between passage and enactment of the new CARS program may have thrown cold water on public excitement. According to the article, The National Highway Transportation Safety Administration won’t release full details on vehicle eligibility until on or around July 24th. That’s still [...]
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The National Highway Transportation Safety Administration, the organization set to oversee the Cash for Clunkers program, is warning of fraudulent Web sites. The NHTSA says that a number of unofficial Cash for Clunkers sites have popped up recently with some offering to help consumers and dealers alike pre-register for vouchers. According to the NHTSA, these [...]
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USA Today has compiled an excellent list of questions and answers pertaining to the new House of Representatives Cash for Clunkers bill. The piece covers everything from the projected cost of the program (around $4 billion) to how the definition of a “clunker” changes from cars to light duty and heavy duty trucks. If you [...]
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Despite last week’s news House of Representatives Democrats were close to forming a single, united Cash for Guzzlers bill, it may still be months before the legislation finds its way to law. Rep. Henry Waxman, D-Calif., the chairman of the House Energy and Commerce committee, has made it widely known that he would like any [...]
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