Los Angeles Immediate Cash For Cars


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Los Angeles Immediate Cash For Cars

Los Angeles Immediate Cash For Cars

On Thursday, August 20, 2009, the United States Department of Transportation (DOT) announced that the Cash for Clunkers program is ending Monday, August 24, 2009. The announcement is posted in PDF format on the Car Allowance Rebate System (CARS) website, cars.gov.

Cash for Clunkers Program Ending

According to the DOT, the Cash for Clunkers program has revitalized the auto industry. From late July through mid-August, car dealerships were flush with customers eager to take advantage of the $3,500 and $4,500 government vouchers for cars. Positive effects of the CARS program include:

  • Vehicle inventory is depleted, which is good for manufacturers and dealerships.
  • General Motors and Ford are resuming production, which means more work for existing and perhaps laid off workers.

U.S. Government CARS Program Winding Down – When is Cash for Clunkers Officially Over?

Technically, the CARS program can still run as long as funding exists; however, the DOT believes if it cuts off dealer reimbursement application submissions on August 24th, enough funding will exist to cover transactions through that date. Because there is a lag between a car sale and application approval, it is possible that some of the total funding will remain once all government voucher credits have been processed. But it’s too early to tell that yet. For now, the DOT is being conservative with its cutoff date.