Senate $2 Billion Approves Cash For Clunkers Extension

The Senate has approved $2 billion in additional funding for the CARS or Cash for Clunkers program. Of course, the perennial buzzkills at Consumer Reports Cars had to find a downside to the program’s continuation.

They pointed out that as the program continues, the most fuel-efficient cars will sell out, lessening the fuel-saving impact of future purchases.

As the program continues, however, many dealerships have run out of the most popular and fuel-efficient new cars, so more trades may result in lower fuel economy improvements, smaller rebates, and potentially a less dramatic sales rate than what was credited to the program in its first weeks.

Cash for clunkers: Senate approves $2 billion extension [Consumer Reports Cars]

(Photo: G Travels)