60,000 Clunkers Rejected For Payout: Equals $250m

It has been revealed that the government has rejected around 60,000 Clunker applications, which total to around $250 million. The stat is just one of many which have been released today, for the ongoing Cash for Clunkers program.

As reported from CNN, the government is still trying to work with car dealerships across the country to come to agreements over pending payments. We have also heard that some are still awaiting approval, but a total of 77,000 more vouchers have been approved, equalling around $322 million.

Since the beginning of the Cash for Clunkers program, a total of 535,000 vouchers have been submitted and approved by the government, making a total of $2.25 billion so far. As the program is ongoing, this figure is expected to rise even further towards the end of the year.

Let us know if you have had your motor approved by the program, or if it was rejected. You can watch the video over at CNN for more details on this.