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Clunkers Program is Rolling Along


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SEE ALSO: Cash for Clunkers Consumer Guide-Qualifying Vehicles

Washington DC August 11, 2009; The AIADA newsletter reported that according to the Detroit News, through Monday morning, the nation's auto dealers had submitted vouchers for 273,077 vehicles totaling $1.147 billion under the "cash for clunkers" program.

Since Friday, that's another $116 million and nearly 28,000 vehicles sold, close to $40 million a day in rebates. If the sales pace keeps up, the money would last about 48 more days.

Two Michigan members of Congress asked Transportation Secretary Ray LaHood on Monday to loosen the rules of the program, because of some reported shortages of hot-selling vehicles. "Cash for clunkers has captured the public's attention and it has proven to be an extremely effective tool for stimulating the economy," wrote Reps. Candice Miller and Fred Upton. "Certain vehicles that have proven to be extremely popular for new purchases under this program are quickly becoming scarce."

The Department of Transportation is reminding dealers that engines must be killed before the "clunker" can be sent to the salvage auction. Failure to do so could result in penalties, including removal from the CARS program. Additionally, to make sure transactions and reimbursements are completed in a timely manner, dealers should ensure their invoices contain all required information.

CLICK HERE For full Cash for Clunkers rules, and qualifying turn-in and new replacement vehicles

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