Clock is ticking for Cash for Clunkers

Posted by: Melissa Johnson - bio | email

Montgomery, AL (WSFA) - The clock is ticking as the "Cash for Clunkers" program prepares for a screeching halt.

Five weeks after the program began, the President announced it will come to an end Monday night.

While dealerships across the country are preparing for a last minute weekend rush, some local car dealers are pulling out early.

The folks at Capital Chevrolet say they stopped taking applications Saturday night, but that hasn't stopped the last minute bargain shoppers like Ronnie Rowe.

He says, he's looking for a deal he just couldn't pass up because he has a 1989 oldsmobile.

Like many Americans, he's sad to see the rebates go. "I hate that it's the last day. You know, because a lot of people are trying to go out and get those clunkers out and get them a new gas saver."

Car dealers say, the program has beefed up their fourth quarter sales, but it hasn't been a easy ride.

Many dealers say the real trouble is that the deals are happening faster than the reimbursements.

But Capital Chevrolet's Owner says, it's no different than any manufacturer rebate.

"This is the same thing really.  The manufacturer doesn't pay the rebate money right then.  You usually get paid once a month, or every sixty days, so we feel this is the same circumstance.  The government is going to pay us. Obviously they're not paying us today, but they're going to pay us."

The official cut off point is 7:00 p.m. Monday night.

In all, the program is credited with more than 450 thousand guzzler trade-ins.