Cash for Clunkers Ends 8 p.m. Monday

Cars

The federal government announced that it will end the popular Cash for Clunkers program at 8 p.m. Eastern Monday evening. This deadline is for new purchases, not for submitting paperwork. Consumers can theoretically wait to sign on the dotted line until 7:59 p.m. Monday. Dealers will still be allowed to submit paperwork and resubmit rejected paperwork after that deadline.

So far, $1.9 billion — of $3 billion — has been claimed. The government says there could be an additional $400 million in deals yet to be submitted. That means if you’re thinking about taking advantage of the program and are still on the fence, there are only days left on the clock.

Check out our Cash for Clunkers Guide.

U.S. to shut down cash for clunkers at 8 p.m. Monday (Detroit Free Press)

By David Thomas | August 20, 2009 | Comments (6)

Comments 

Stellar

I thought this program was gonna go through November, why the change?

David

This after the National Automobile Dealers Association (NADA) urged the federal government to begin shutting down the Cash for Clunkers program immediately. 97% of dealers surveyed said that cash flow was a huge burden for their dealership. See survey results: http://www.cardealerreviews.org/?p=116533

This just proves how successful programs are when they give away government money. It looks like it was a huge cashflow issue for dealers, though. Either way, I'm not sad to see dealers having problems, and am glad to see the Joe six-pack get some bailout money instead of it all going to the banks who did nothing with it and cut credit for good customers.

Plenty of C4C coverage over here: http://www.cardealerhorrorstories.com

Mike

Ok... I know that the clunker has to be destroyed, but I was watching the news and they basically crush the whole car. This seems like such a waste. Couldn't they just strip out the car and save items like seats, doors, lights, glass, etc??? People still own these cars and need parts. I saw the crush what looked liked a perfectly good 1998 Nissan Pathfinder with leather and all the upgrades. It looked like it was in nice condition... but they just crushed it for no apparent reason. I could see getting that 1980's rusted out gas guzzler off the road, but I saw so many good cars get destroyed. This just seems so wasteful to me.

valero

Jason,

Giving away "Government Money"?!?!?!

Giving away "OUR" money!!!!

Actually they spent "OUR" money long ago. This hand out is the new money they are printing, so I guess is would have to be called "OUR GRANDCHILDREN'S MONEY".

Derrick G

@Mike,

Again, one of the driving goals is to get as many guzzlers off the road as possible. Actually, they can strip out anything except the engine or the powertrain as a unit during the time before it has to be crushed, but most of these cars were big sellers so there's little reason to because there are lots more where they came from.

But to save all these parts would just keep the remaining ones on the road that much longer.

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