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Cash for Clunkers is out of money, again!
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The National Auto Dealers Association, NADA sent a notice to its members on Wednesday that by NADA's informal survey, all of the money allotted to the CARS program (known to all as "Cash for Clunkers") has been spent. This seems to contradict Transportation Secretary Ray LaHood's statement the same day that "there will be no car dealer that won't be reimbursed."
It looks like there will need to be another infusion of public money or the program will end. Will the government learn that it is very difficult to stop a rebate program without sales tanking? The manufacturers have known this for some time.
If you are working on a new car deal now, you may want to get it finalized today!
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