Is Cash for Clunker Program really suspended? Actually the answer is no, not even at his very hour. But, the question is, will the program be suspended and when? If you will base on the information from the (NADA) National Automobile Dealers Association, then it is likely to happen. Cash For Cars Sydney
Cash for Clunkers is the name given to the Car Allowance Rebate Scheme (CARS) program. In real meaning, take your old car, which at least less than 18 miles per gallon and 8 to 25 years of age and as long as it is scrapped then the program will give you a discount amounting to $3,500 to $4,500 on a new car that is more fuel efficient. The U.S Congress provided $1 billion for the CARS program to support the sales of car industry and the program is expected to run until the 1st of November or until the funds run out or whichever comes first.
It undoubtedly shows that the funds ran out but just on its first week though the true problem is that no one truly knows. Since July 29, about 23,000 cars had been recorded sold under the program, which means that $96 million of the funds was already used. But the operational term there is “recorded or registered”. So to become eligible for the program, the dealers need to accomplish what is supposed to be an intricate registration procedure.
A few 100 pages of policies directing it and there are news that it could take at least 90 minutes to accomplish one registration on an accurate computer system administer by National Highway Traffic Safety Administration (NHTSA). In addition, there are reports that allege the system to be overloaded and that dealers are being bumped off in full flow and actually lead them to begin once more.