"Auto dealers, among the biggest supporters of the program, are pulling out in large numbers, worried that they won't be reimbursed for the up to $4,500 they have advanced to each customer who trades in older gas guzzlers for more fuel efficient models.
Dealers are complaining that slow processing of paperwork by the Department of Transportation has put them in a cash flow bind, requiring them to advance well over $1 billion so far.
They also worry that the delays in processing their applications could mean there are far more deals in the pipeline, a problem since the $3 billion allocated to Cash for Clunkers is already close to exhausted."
Thursday, August 20, 2009
Clunkers program could end soon -- with a crash - Aug. 20, 2009
Clunkers program could end soon -- with a crash - Aug. 20, 2009:
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