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)