Click.Shop.Save On A Car
Dealer Reviews, News, and Cars For Sale
Cash for Clunkers Deadline Looms
Transportation Secretary Ray LaHood announced yesterday (Sunday) that the Obama administration will suspend the Cash for Clunkers program this week if the senate does not approve the additional $2 billion in funding.
LaHood believes the initial $1 billion in funding the bill received will be completely exhausted this week.
According to the Associated Press, LaHood stated, “Any deal that is made (Monday) or the next day and that is in the pipeline, … the dealer will be reimbursed and the car buyer will be reimbursed.”
Running On Empty
Earlier this week, many began speculating that the original funds were nearly dried up, given the record number of sales that took place in the first few days of the program’s start.
Dealers across the country were also reporting that their most popular fuel efficient models had nearly all been purchased and were concerned with the probability of receiving additional shipments. A Ford dealer in Boston wrote in to say that they were completely out of Ford Focus, Escape and Fusion models.
Some lawmakers have mixed feelings regarding rushing to inject the bill with more money. Some feel that the decision needs to be more thought out while others are certain that adding funding to the bill will only further stimulate the economy and lagging auto sales, something that has been needed for quite some time.
Monday morning on CNBC, Sen. Bob Corker, R-Tenn said that he would support the $2 Billion in additional funding if it came out of the previously approved $121 Billion stimulus spending bill. He stated that if the $2 billion would be new debt he would not support the measure.
It is not certain whether or not the Senate will approve the additional funding for the Cash for Clunkers bill. Monday looks like the best bet for consumers who want to lock in their Cash for Clunkers deal. With inventory and cash flow running on empty, this could be the last we see of the Cash for Clunkers program for quite some time.
Shop Monday If You Can
We are urging consumers to act quickly in order to take advantage of the program. Brian Pasch, CEO of the Pasch Consulting Group, reminds consumers that there is also uncertainty on how long the extra $2 billion in funding will extend the CARS program. Pasch says, “With this in mind and inventory levels dropping for popular models, shopping on Monday makes the most sense.”
Dealers will most likely be staying open late on Monday to fulfill as many Cash for Clunkers deals as possible until time runs out. According to Dave Wilson, CEO of Preston Automotive in Maryland, “We will be open late Monday and we will stay open until the last customer leaves to get everyone in before the deadline.”
The Wall Street Journal today also said that Chrysler would be droppingits popular double rebate program since dealers are running out of cars. We checked the Chrysler website this morning and the double rebate program was still showing as active.
Consumers are encouraged to visit the only official destination for information on the Car Allowance Rebate System (CARS) at http://www.cars.gov for the latest updates on the program.
37 responses on “Cash for Clunkers Deadline Looms”
Copyright 2011 PCG Digital Marketing - www.pcgdigitalmarketing.com - Car Dealer Digital Marketing
Automotive News - Automotive SEO - Automotive Advertising - Car Dealer Advertising - Automotive Microsites - Auto Classifieds
679
iooking to buy a more fuel efficient auto.
Well our dealer called and we can pick up our new car tomorrow. Our deal was made on 7/27/09. I think Bill Clinton stoped at the dealer on his way back from Korea and put his hand on the computer.
We have no clear indication other than the cars.gov website still says the program is on.
I called San Francisco Honda today and was told that the program has been halted. Is this true?
I bought my car last Thursday, signed all the papers but the car still @ the dealer and they keep telling me that maybe by Friday I can pick it up /sigh.
Bonnie: A few people (not many) have received a scrap value credit at the time of their purchase. It’s not a big amount…usually something under $250. And keep in mind that the dealer is entitled to $50 of that. So don’t let it keep you up at night!
I received nothing for scrap value, but I removed about $400 worth of parts from my car that I will be selling on eBay…so I’m not complaining.
It’s hard to tell whether dealers are intentionally pocketing this money, or if they really don’t understand the process.
I used the program and worked great until I asked for my scrap credit. Yet to hear of anyone getting their scrap credit. Dealers seem to be making a killing off the scrap. CARS states the dealer can only receive $50.00 and therefore anything over that will be returned to the owner of the clunker. If anyone has any info on this please pass it on. I have already contacted the CARS help line and NHTSA for help.
I am happy …I got a car…went shopping on July 7th picked up car on July 30th…worked for me??????????
“John McEleney, chairman of the National Automobile Dealers Association, said his organization was warning dealers there were no guarantees they would be reimbursed for sales they make under the program this week. McEleney said he has stopped offering cash-for-clunkers deals at his own Iowa dealerships.”
Full Story: http://news.yahoo.com/s/ap/20090804/ap_on_go_co/us_cash_for_clunkers
Where did all the Stimulus money go?
If we are stopping this program because we need more cash just take some from the Stimulus money, wasn’t that the whole point of a stimulus in the first place?? Jesus christ.
It seems that we are all having the same problem. Brought in all the required forms on July 21st and bought a new Scion xD. On Monday, July 27th the dealer called to say we needed to fill out a questionnaire. Did that. Info submitted to NHTSA. Called dealer again today and they have not yet received confirmation so we cannot finalize the deal. Our dealer seemed to think that they were processing American cars before foreign.
What you all might not realize it that the business manager has likley sat through hours of meeting where the owner said that if they screw it up it is coming out of their paychecks. That’s why they are cautious. I bought last week. It took trips to 5 dealers before I found one that could actually read the website and the rules – and understand them.
Went to Faulkner Subaru in Harrisburg PA. Made a verbal deal on Saturday August 1st. Went to pick up vehichle today August 3rd and met the salesman who said the business manager will be right with us to sign the papers. 20 minutes later the business manager talkes to the salesman and salesman comes over and said they can’t do the deal, no more clunker money. What gives?
DK…every “clunker” taken in on trade is going to be DESTROYED. None of these cars will ever be re-sold.
I probably missed the official answer. I have not kept up. There is an auto auction company in my area. Is this where the traded in clunkers are going? Maybe I can get a great deal on my next used car! Next time Pres Hussiem Obama spreads the wealth I can trade in my “clunker”.
Please read this article that correct the mis-information that FOX NEWS created about the NHTSA cars.gov website.
http://www.cashforclunkersfacts.com/bill/fox-news-blunders-on-cash-for-clunkers-privacy
SPY,
7 day’s since our deal and still NO CAR. WAZZZZZZUP with this crap? Something really wrong with this program.