The government’s Cash for Clunkers program is set to end on Monday.
“It’s been a thrill to be part of the best economic news story in America,” said Transportation Secretary Ray LaHood. “Now we are working toward an orderly wind down of this very popular program.”
The program is ending on Monday due to the fact that it will soon run out of money. Over 457,000 cars have been moved thanks to Cash for Clunkers with over $1.9 billion in rebates being issued.
“We expect there will be a flurry of activity over the weekend as the program comes to a close,” Jeremy Anwyl, chief executive of the automotive Web site Edmunds.com, said in a statement.
The Department of Transportation remains confident that the program will have enough money to survive until Monday night.
Better get out there if you plan on trading in your clunker!
Full Story: CNN Money