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 »  Articles  »  News  »  Consumers Love Cash for Clunker Cars
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Consumers Love Cash for Clunker Cars
By Credit Federal | Published 07/31/2009
It has only been less than one week for the kick off program "Cash for Clunker Cars" and the one billion may already have been spent.
 
The program was to go until November or until the one billion dollars was depleted. Consumers seem more than willing to get up to $4,500 credit to get their new, top of the line luxuary auto or less expensive auto with the help of the government.


As of Friday, July 31, 2009 the fate of the program is still unsure. Guessing by the huge success of the program during the first week, there may be many more consumers left who are waiting to get in on the deal. Hopefully those consumers who were driving clunkers can pay for that new auto and don't run the risk of getting into financial troubles.

The Clunkers program will be running through the weekend, after that more money will be needed. There is talk about giving two billion dollars more for the program. The report is that the program appears to be a success for consumers wanting to buy an auto and for the auto industry. It has generated about 200,000 sales and has kept dealers very busy. There are dealers who have sent out cards  on Friday to consumers with clunkers to try to get them into the dealership.

Some taxpayers have mixed feelings about socking more government money into the program, yet many dealers are hoping more money will be given as more cars have been sold in one week than in one month. This is helping the auto industry and it gets inefficient cars off the road. This program is not for the person who is driving a clunker because of financial problems, if a monthly payment on a new, efficient auto will be a burden for several years. For more information on the program, visit cars.gov.

Get an even better deal... Avoid dealership financing tricks by getting an online, preapproved auto loan.


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