Cash for Clunkers Ticker: $854 Million Left

Yesterday, the CARS website debuted a new gauge that shows how quickly funds for the Cash for Clunkers program are running out. Yesterday morning, it was at $858 million. As of this morning, it’s dropped just $4 million more.

While the original movement had a lot to do with the program’s costs being factored in, a $4 million daily drop would mean the program would run out of funds in 214 days, long past the Nov. 1 deadline. 

In a positive sign, it seems most folks are trading in their clunkers for passenger cars, SUVs and smaller trucks. USA Today has listed the breakdown, and 15,503 of the 16,351 vehicles purchased were of those types. Only 819 full-size pickups and vans have been bought, and only 29 Category 3 trucks have been purchased. The Category 3 truck pool has $75 million in funding left to go. We wonder if it will see much movement at all.