Posted by Snow in 
Three more shopping days left until the declunking of America comes to a legal end. Cites the LATimes:
“The Obama administration says all transactions under the popular program must be submitted before 5 p.m. PDT Monday. Buyers and dealers are advised to get paperwork done before deals are made.”
Hard to say if this happening because funds for declunking have run out or that the dealer uproar about the lower numebr of application to honor rebates in the event of clunker worthy transactions is effecting this halt to the popular program extended a few weeks ago.
The federal government has thus far offered clunker car owners $3 billion to trade in older “clunker” vehicles for newer, more fuel-efficient models this summer. Car sales rose under the program as buyers flocked to lots. The Cash for Clunkers program will end Monday evening, according to the Obama administration.
As of 5 p.m. PDT Monday, the program will be shut down, a senior administration official said today. The program has offered rebates of $3,500 or $4,500 to car-buyers trading in older vehicles for new, more efficient models.
All valid transactions under the federal trade-in program must be submitted before then, this official said, so the Department of Transportation is advising consumers and dealers heading into this “wind-down” period to only agree to deals in which all of the necessary paperwork has been reviewed and approved.
After the initial $1 billion which Congress approved for the program was quickly committed, Congress approved an additional $2 billion before leaving for its August recess.
Recent claims by irate dealers reflect the eagerness to write deals was not reflected in the accuracy of the paperwork or the execution of the application requirements.
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