The federal “Cash for Clunkers” program reaches the end of the road at 8 o’clock tonight.
But if you’re still looking to take advantage, you may find some dealers turning you away before the deadline.
The program that gives drivers rebates of up to $4,500 for trading in their gas guzzlers is ending because it has run out of money.
But some dealerships, like Bay Ridge Toyota, bowed out early because they have run out of cars that qualify. They’re also concerned about all the paperwork, and the government’s failure to quickly reimburse them.
Dealers at Bay Ridge Toyota say they’re owed nearly $700,000, and that paperwork errors could cost them even more.
“If one document submitted to us turns out to be not true or verifiable, the burden goes back to the dealer,” said Bay Ridge Toyota Sales Manager Mohammad Ali. “And instead of getting $3,500 or $4,500, you could be slapped with $15,000 in fines.”
Cash for Clunkers originally kicked off with $1 billion, but after the money quickly ran out, the government added $2 billion, which was meant to keep it going through Labor Day.
(Source: NY1)
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3 Responses
What are we going to call a “Yeshivishe car”??
The govt is ending it but they still owe the dealers millions of dollars. There is no reason they cant pay the car dealers who are losing millions of dollars due to this stupidity.
What happens when they run out of money in ObamaCare???
“If one document submitted to us turns out to be not true or verifiable, the burden goes back to the dealer,” said Bay Ridge Toyota Sales Manager Mohammad Ali. “And instead of getting $3,500 or $4,500, you could be slapped with $15,000 in fines.”
Now we can understand why some health care providers are so afraid of the “Public Option”.