Cash for clunkers to stop accepting applications!
/2009-08-21/“Cash for clunkers” government program will stop accepting applications on Monday, Aug. 24, bringing to a close an effort that supported auto sales.
The plan, which offers car buyers discounts of as much as $4,500 to trade in older cars and trucks for more fuel-efficient vehicles, has recorded more than 457,000 dealer transactions worth $1.9 billion in rebates.
The deadline will give dealers and buyers time to complete deals and apply for rebates from the remainder of the $3 billion provided by Congress. Car dealers have complained of difficulty running their businesses while awaiting program payments, and now program management is adding workers to help process claims faster.
Applications for rebates won’t be accepted after 8 p.m. New York time on Aug. 24, Transportation Department.
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