Cash For Clunkers ends tonight, 8 p.m. EST - $2.65 billion spent so far
The Cash For Clunkers (C.A.R.S.) program ends today. There are about five hours left before the über-successful government program comes to a sodium silicate-induced halt. So, anyone who's on the fence about getting an extra $4,500 for their low-mileage clunker should call their local dealer pronto. Transportation Secretary Ray LaHood repeated that every dealer that submit their rebate requests by 8 p.m. tonight will get paid.How successful has the program been? As of 7:47 a.m this morning, $2.65 billion in rebates (for 635,186 claims), have been submitted by dealers across the U.S. C.A.R.S. numbers released Friday showed that 489,269 claims worth $2.0 billion had been submitted. Once the deadline has passed, it'll be interesting to see where the final MPG improvements and rankings of purchased and clunked cars end up. Shouldn't have to wait long.
[Source: Automotive News (subs req'd)]
Photo by dno1967. Licensed under Creative Commons license 2.0.
Reader Comments (Page 1 of 1)
jpm 3:08PM (8/24/2009)
treasury department running low on ink?
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Mark Kiernan 3:12PM (8/24/2009)
I hope they have more money in 2010 for the volt!
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Mark Kiernan 3:13PM (8/24/2009)
Just want to add that $3bn is buttons in comparison to the War in Iraq.
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rob 3:29PM (8/24/2009)
"it'll be interesting to see where the final MPG improvements and rankings of purchased and clunked cars end up"
Keep in mind that the operating assumption is that the clunker was a heavily used vehicle and the new car is going to be the heavily used vehicle.
My neighbor turned in a "clunker" that he put 1000 miles on in a year with a crossover that he intends to drive daily instead of his daily driver Ford Focus...unless "gas prices go back up".
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Mark Kiernan 3:35PM (8/24/2009)
Argh, why didn't Congress mandate that all cars bought had to be something like 50mpg+?
Joe 3:44PM (8/24/2009)
does this mean auto companies will start offering incentives again?
Cash for clunkers starts, all incentives mysteriously stop. I'd like to buy a car now, but no good deals are available for people who have always made good choices when it comes to fuel economy and eco-friendliness in vehicles.
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cpowers 3:59PM (8/24/2009)
I work at a Toyota dealership. I am responsible for submission of the CARS Claims. Since about 10:00 this morning it has been near impossible to get into the dealer site to submit claims!
Thankfully we are caught up, But are unable to make any more deals.
The help line tells us that even they cannot get into the system, and that tough titty if they arent in by 8:00 they wont be eligible for payment. Unless there is a presidential Extension of the submission process.
Sorry for all the dealers that get stuck!
Chris
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Mark Kiernan 4:14PM (8/24/2009)
Chris want is the feeling with dealers now that CFC is finished will sales drop badly again? I know GM dealers were having a really hard time before CFC.
gorr 4:20PM (8/24/2009)
It's sad because just before this programm i suggested to convert these old clunkers to natural gas or hydrogen gas for 500$ to 1800$ approx for 10x less pollutions.
A clunker converted to natural gas or hydrogen gas is less polluting then a volt or prius and cost less of course. Many many folks would have been happy driving again a big old 70s or 80s american v8 car like a old caddillac or mercury of big fat hemi challenger.
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CHRIS 4:21PM (8/24/2009)
Well, we are in a unique position in our community, But FWIW we feel there has been some good momentum. Also reading the consumer surveys we have it seems that many of the deals we have done are to people who normally dont buy new vehicles, or at least were not in the market without this plan.
Hopefully those are good signs for us and we have lots of new contacts to help too!
only time will tell though,
Chris
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john 9:55PM (8/24/2009)
I hope they have a similar cash-back program for trading in a gas car for an EV come 2011 - I'd sure take advantage of that :D
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Nozferat 2:30AM (8/25/2009)
I hope the auto dealers go back to starving. Their true colors of greed showed as soon as C4C started...up went the $2-3K markups, "we're selling out of Fits and Prius's " BS, etc etc etc..the usual lies and crap they push when times were good.
I can't wait to go back to the sleazeball at the Toyota dealer a month from now and ask he's doing now.
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meg 9:12AM (8/25/2009)
Love that photo of the oldsmobile.
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