There is a lot of chatter on twitter today about how much money is left under the $4500 to $3500 rebate program commonly known as Cash for Clunkers or CARS. According to our friends who are watching this program closely there is approximately $858 Million left, but over 65% of the sales have still not been reported.
That means roughly 30% of the $1 Billion budget is still available if estimates are correct.
That means $700 Million dollars inflated-worth of clunkers are now off the streets within 5 days! Obama and the NHTSA must be estatic!
That is a very significant boost in new car sales of more fuel-efficient vehicles.
So far, at Keeler Motor Car Company, we have seen the money going to very economically-minded people who would usually drive a car into the ground. Contrary to some perceptions we have read out there, this program is benefiting folks who can afford new vehicles. We cannot deny that the other side of argument will be able to find some examples that show differently, but that has not been our experience in the Albany, NY area.
Despite some of the processing short-commings, we are still ecstatic about the program and urge anyone who qualifies for the program to call us at 757 687-3431 immediately. 30% will dwindle fast!!!
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