Cash for Clunkers Suspended

Cash for Clunkers Suspended. Not yet.

The suspension will start Friday midnight. The program is suspended when it became obvious that the $1 billion allocated by Congress for it is quickly depleted. $1 billion is not enough. Auto dealers told the Wall Street Journal that they "will stop accepting cars for trade-in under the program until they are sure funds are available."

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The National Automobile Dealers Association has released a statement:

We do not have confirmation yet of DOT suspending the clunkers program, but if the program is indeed suspended, NADA will continue to work with the Department of Transportation to emphasize the importance that every dealer is reimbursed for a valid deal. We will also work with the Obama Administration and members of Congress to meet the demonstrated consumer interest in the cash-for-clunkers program.

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