Cash For Clunkers Continues, As-Is
Even the original Nov. 1 deadline stays in place.
The only change is now there’s $2 billion more in funding.
While the latest government stats show that the original $1 billion wasn’t completely depleted as of this week, it was close. Nearly $900 million of the Cash for Clunkers’ funds were spent, including the amount needed to administer the program.
Basic math would conclude that if the program went through $1 billion in a month — deals were retroactive to July 1 — then $2 billion more should last two more months, or around Oct. 1.
While that date is a rough estimate, the rush to cash in on the Clunkers program is likely over. For those who sat on the sidelines and thought they were out of luck, there is a lot more time to make a purchasing decision now.
