The Pendleton Panther

The End of “Cash for Clunkers”

Posted on: August 26, 2009

Cash For ClunkersThe Cash for Clunkers program officially came to a halt on August 24th, 2009.  President Obama came up with this idea in hopes of getting the less fuel efficient vehicles off of the road.  The customer’s car had to meet several requirements in order to qualify for the program, and if it did then they could receive up to to $4,500 for their trade in.  The consumer then had to buy a new vehicle.  The program spurred over 457,000 vehicle transactions around the country.  Although it was successful, the car dealers weren’t huge fans of this program.   Most of the dealerships across the U.S. stopped doing the program after a few weeks.  My family owns a Chevrolet dealership and we were one of the few in the Texas panhandle that stuck with it and continued the clunker program.   The program has ended and the government still owes us almost $100,000.  That is why a huge amount of the dealerships in America stopped doing it because they were worried about the government paying them back.  Plus, it was a ton of work just to trade in one vehicle and a big hassle.  The program was originally supposed to run until November 1, 2009 but they ended it early since the funds were running out.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: