The Cash 4 Clunkers program was suspended last night after just 6 days because they had already run through the $1 billion that was allocated for it.   At first, I was astounded that the program lasted less than a week, but then I did the math.  At $4,500 per deal, that’s about 222,000 cars.  With over 16,000 franchised car dealerships participating in the program, that’s only about 13-15 deals per dealership.  I’m actually surprised the money lasted that long!

But, it may not be over yet.  The government is reviewing the backlog of cars that dealers have already registered for the program to make sure they still have sufficient funds to pay for those cars.  President Obama announced that the program will run through the weekend, but dealers are still unsure if the money will be available and have stopped making deals until the White House confirms that additional funds will be available.  The car dealers are also lobbying congress to approve more funds to extend the program and help out the struggling automotive industry and overall U.S. economy.  

Will the Clunker program be extended?  We’ll just have to wait and see.  But, if you still have a clunker to get rid of, Women’s Automotive Solutions can still get you the best deal!  Just contact us at 704-248-8706 for a complimentary consultation to discuss your options!