Cash for Clunkers Lives On...But For How Long?
That may sound like a lot, but if you're interested in participating in this program, you shouldn't drag your feet. Though many mainstream newspapers are reporting that the new funding should take the program through Labor Day, CARS may not make it that far, even with the new cash infusion.
The first $1 billion of the program didn't last a week, and the program went into limbo for a week or so until the Senate authorized additional cash. Simple math would say $2 billion more gives the program perhaps two weeks more...which would mean perhaps until the end of next week. One factor that may make it last a bit longer: many dealers have sold most of their inventory of fuel-efficient cars that qualify for the CARS program. But still, the idea that the program will run all the way through Labor Day? It's iffy.