Thursday, August 20, 2009

Cash For Clunkers

Cash for Clunkers ending

With money running out, $3 billion Cash for Clunkers program will end on Monday. The tally so far: 457,000 cars and $1.9 billion in rebates.

The $3 billion Cash for Clunkers program will shut down on Monday, the government said Thursday.

Dealers must submit any pending Clunker deals, including any necessary paperwork, by 8 p.m. ET Monday.

"It's been a thrill to be part of the best economic news story in America," said Transportation Secretary Ray LaHood. "Now we are working toward an orderly wind down of this very popular program."

Officials decided to wind down the program, which Congress passed to spur flagging auto sales, after determining that it would soon run out of money.

More of the article here.

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