Car owners hoping to take advantage of the “cash for clunkers” incentive program will have to do it by this Monday (Aug. 21) at 8 p.m., as the Obama Administration shuts down the popular program.
U.S. Transportation Secretary Ray LaHood said the Car Allowance Rebate System (CARS), offering incentives for trade-ins, should have enough funding to support one more weekend of sales. Earlier this month, the U.S. government pumped $2 billion into the program on top of the original $1 billion in funding. At the time, LaHood estimated the total $3 billion in funding would last until Labor Day. Looks like LaHood was off by a couple of weeks.
LaHood said there are no plans to expand the program again, but some representatives, including Democrat Sander Levin or Royal Oak, Mich., say Congress should add another $1 billion into the program.
[Source: The Detroit News]
Discussion
Make a Comment!
Porsche, Lincoln and Buick Top J.D. Power Vehicle Dependability Study![Tanner Foust Drifts Mulholland Drive In NASCAR V8-Powered Scion tC [Video]](http://www.autoguide.com/auto-news/wp-content/uploads/2010/03/Picture-1-t.jpg)
Tanner Foust Drifts Mulholland Drive In NASCAR V8-Powered Scion tC [Video]
Report: Chevy Considering 4-Door Corvette to Compete With Panamera
Lexus Returning to Nurburgring 24 With New LFA Race Car
Lexus LFA Nurburgring Edition A More Track-Focused Supercar
Investigation of Runaway Prius Uncovers Incident was a Hoax
For working trucks the rule is not based on the fuel efficieny. As long as it is manufactured before 2001 they all qualify
but cannot be older than 25 years old..
Henry
August 22nd, 2009 at 3:57 amBlogger