The Cash Cow: Cash for Clunkers Program 2009

Well before the Cash for Clunkers scheme was released, people were sceptical whether it would ever take off, due to the simple fact that people who are running these old gas guzzlers are doing so because they can’t afford to get anything else, even with the help of the government. The theory behind this makes sense, but in reality it turns out it couldn’t have been more successful.

Frank Gray over at JournalGazette.net also thought this scheme would be a giant flop, but it turns out that it has turned into one giant Cash Cow, with many people paying in cash, and a large amount not taking finance. “Everyone underestimated the response” says Dave Montoya at Fort Wayne Kia, “it’s crazy, It’s truly unbelievable” states Craig Ruskaup at the O’Daniel dealership.

But even though this scheme is going so fantastically well, it is causing various issues due to it’s success. The main server that processes all the applications that are put forward by the dealerships has already crashed multiple times. Add that to the fact that the dealerships inventories are being stripped bare and they are struggling to get hold of economy cars to fill it back up. The scheme is running through until the end of November or until the $1 billion that funds the scheme runs out, and we are guessing that the money funding the scheme will run out before the final deadline is reached, so if your thinking about scrapping your old pile of junk, get to it as soon as possible!

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