Dealers Unhappy Over Reimbursements for`Cash For Clunkers’ Program
The `Cash for clunkers’ program which was expected to last till November has been such a great success that it has run out of funding and will come to a close on Monday. For those who came in late, the program was designed with a twin objective of spurring auto sales as well as getting gas guzzlers off the road. Customers can trade in their `clunkers’ to receive a $4500 voucher off on purchase of a brand new fuel efficient car. So while the program has been well received with almost $3 billion worth of voucher transactions expected to close this weekend, dealers are jittery. They all have huge amounts locked up in these vouchers which they have already passed on as discounts and are awaiting reimbursement.
