I t's been all over the news that the government $1 billion program commonly known as Cash for Clunkers may go on hold effectively this midnight. The inciting cause that prompted this abrupt change is the depleting funds that run out too quickly.
Dealers and consumers need not to panic as this can go many ways but the sales that have been successfully accomplished will be accepted but what is not known yet is if Congress will grant an extra funding to support the program. Car dealers would definitely sustain the setback in case no supplementary funding will be accorded as they already expended millions of money for advertising, preparation , staffing and training for the 5 day program that is purportedly intended to last till the month of November.
So the question here is being printed off the wall, will the government completely shut down the CARS program or it will pass an alternative bill to make amends with the consumers? Stay tuned for the further update regarding the Cash for clunkers meltdown very soon.