Cash for Clunkers Suspended!
UPDATE: Cash for Clunkers has been Suspended!
The Cash for Clunkers will be suspended this Friday July 31st at midnight indefinitely. The suspension is due to the fact that that $1 billion budget quickly depleted and was not enough.
The National Automobile Dealers Association released this statement:
We do not have confirmation yet of DOT suspending the clunkers program, but if the program is indeed suspended, NADA will continue to work with the Department of Transportation to emphasize the importance that every dealer is reimbursed for a valid deal. We will also work with the Obama Administration and members of Congress to meet the demonstrated consumer interest in the cash-for-clunkers program.
Basically officials have realized that the $1 billion budget is running out to quickly and there won’t be enough money to pay the dealers who are participating in this program. What do you think about the news on Cash for Clunkers Suspended?
