Friday, August 21, 2009
Cash For Clunkers Ending, Consumers Reminded to "Buy Cautiously"
Individuals who are interested in trading in their older gas-guzzling vehicle for a new, more fuel-efficient model under the "Cash for Clunkers" program had better to do so before end of day Monday.
That's because, after a wildly successful run, the cash for clunkers program will come to a close on Monday, August 24 at 8 p.m. EDT, says U.S. Transportation Secretary Ray LaHood in a press release on the official program website www.cars.gov.
"After just a week, the program, which began July 24 and was expected to last until as late as Nov. 1, ran out of the $1 billion originally appropriated by Congress. An additional $2 billion was approved two weeks ago, and it was supposed to last until Labor Day. Now that's almost gone, too," wrote Dana Hedgpeth for The Washington Post.
"This program has been a lifeline to the automobile industry, jump starting a major sector of the economy and putting people back to work," Secretary LaHood said. "At the same time, we've been able to take old, polluting cars off the road and help consumers purchase fuel efficient vehicles."
Consumers are reminded to buy cautiously, and to make sure they can afford a new car, especially in a down economy.