The "Cash for Clunkers" program is scheduled to shut down at 8
pm (EST) on Monday, Aug. 24. So far, the $3 billion program has
resulted in the trade-in of 457,000 cars for $1.9 billion in rebates.
According to a report from CNN.com, dealers must submit paperwork for any pending Cash for Clunkers deals by the Monday 8 pm deadline.
Because of the slowness of the government in paying dealers for "Cash
for Clunker" rebates, some dealers voluntarily left the program.
According to reports, half of the 425-member Greater New York
Automobile Dealers Association left the program claiming they could no
longer afford to offer more rebates. About half of the 950-member
Pennsylvania Automotive Association did the same.