Cash for Clunkers Halfway Depleted
The latest numbers from the U.S. government show that the popular Cash for Clunkers program is roughly halfway through its now-$3 billion pot. So far, 338,659 deals have been done — costing $1.418 billion — in the nearly three weeks since the official launch of the program.
At this rate, it should run out in roughly three weeks, but interest in the program has leveled off from the near-pandemonium of the first week. Still, there seems to be a considerable amount of money leaving the government’s coffers and it’s unlikely the amount left will last to the Nov. 1 deadline.
The best advice for clunker owners is to take advantage of the program sooner rather than later.