CASH for JUNKERS hits the BRAKES!

Dealers are idling the CARS-CASH FOR CLUNKERS program as they await word from Congress on the fate of the CARS program. Already nervous about car deals made between 7/24 and 7/27, when changes to the NHTSA fuel economy guide affected100 models eligibility; as the cars either gained or lost qualifying status by 1 MPG, dealers are preparing to hit the gas hard for the next run, or shift into third and let remaining 2009 models chug off the lot with end of the model year rebates. Should the next $2 Billion be forthcoming, many dealers express concern about the float time between writing the new car deal and seeing the $4500 (max. allocation) in their bank accounts.  There is still no word on what audit procedures will be necessary if or before the rebate cash is released. There appears to be a bi-partisan revolt revving up in the Senate, as Dems and Republicans alike have expressed concern about the use of TARP funds to underwrite car deals based on minimal standards. Many Americans have expressed disappointment at not having adequate selection of hybrid and alternative fuel vehicles, as their pre-EPA vehicles get better gas mileage than many newer models. Consumers should be prepared to consider new car deals based on incentives other than CASH for Junkers/Clunkers, should the model of their choice not be available before the  next $2 billion dries up, never materializes or ships as a 2010. ————————————————————————————————————————————————–

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