Just like the daily fluctuations of the stock market, the infamous 'Cash for Clunkers' program, also known as the CARS ACT, has added another dimension - after receiving a life line from the government two weeks ago.As a result of the inventory of fuel-efficient economical new vehicles being at an all-time low, dealers and automakers now have limited offerings and consumers are experiencing difficulty in finding a vehicle which qualifies for the government's program. However, as a result of listening to dealer concerns and consumer requests, NHTSA, the organization administering the program, as of Thursday, August 13, has opted to allow consumers the ability to special order a vehicle from the factory by way of a new-vehicle dealer, according to the New York Times. Thus, this latest amendment to the program will allow consumers to qualify for the 'Cash for Clunkers' incentive. We're not sure if consumers will be required to hand over their clunker to the dealers, while they await the arrival of a new-vehicle. If this is the case, you'll have to find another mode of transportation.
So, will the program end during the Labor Day weekend as previously noted or will it be extended? At this point, no one knows the answer. However, what we do know is that the 'Cash for Clunkers' program is a moving target. With that said, we wouldn't suggest that you wait until the last moment to jump on this offer, if you have a clunker to trade. To find out more details about the CARS Act, click here.
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