Is The Cash for Clunkers Car Buying Stimulus Program Dead?

By Pinyo, on August 1, 2009

Well, that was fast. The Cash for Clunkers program created a lot of buzz in the personal finance blogging niche (and I am sure in the auto industry as well). And a few days later, it went out with a bang. Yes, the Cash for Clunkers program, Gas Guzzler rebate, or whatever you want to call it is finished. $1 billion of taxpayers’ dollars gone in 7 days — wow. To be more precise, the money is not completely gone yet. However, the government and participating car dealers are behind on their paperwork so they think, they ran out of money.

Fortunately, for those of us who really want to go into debt and spend a lot of money needlessly, there’s a rumor that the government is working toward resuming the CARS program and expanding it by additional $2 billion to keep up with the demand.

In any case, let’s take a look of what other bloggers have to say:

• Cash For Clunkers Over Already? — Cash Money Life offers a well-rounded informational post about the suspension and mentions possible $2 billion net new fund for the CARS program.
• Cash for Clunkers Suspended – Donate Your Car Instead — Mrs. Micah wants to remind you that you can still donate your car.
• Cash for Clunkers Goes “Clunk” — Mr. Tough Money Love remains critical of the CARS program and its participants.
• Cash for Clunkers: I got in before the money ran out — WalletPop (Gina Roberts-Grey) shares her personal experience with the program.
• Cash For Clunkers Program Suspended After Only A Few Days. Here Is Why — Bible Money Matters offers the reason behind the suspension and also mentions the $2 billion new fund.
• Cash for Clunkers Trade-In Program Has Been Reinstated at Four Pillars
• Cash for Clunkers Program Suspended at Five Cent Nickel
• Is Cash For Clunkers Broke Already? at Free From Broke
• Cash for Clunkers Still Running at No Debt Plan
• Cash for Clunkers Program May Get More Funds – But is the Program Good for Consumers? at Prime Time Money
• “Cash For Clunkers” Cashed Out? at Budgets are Sexy
• Cash For Clunkers Suspended at Consumerism Commentary

So what do you think about the Cash for Clunkers program suspension and expansion?

On a different note, I’d like to highlight a few carnivals I participated in this week: Carnival of Twenty Something Finances, Festival of Stocks, Carnival of Money Stories, and Carnival of Developing and Supporting Entrepreneurs.

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Pinyo is the brain behind Moolanomy personal finance blog and a few other web sites. If you like this article, please subscribe for free daily email updates.

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1. -> Cash For Clunkers Program Suspended After Only A Few Days After Running Out Of Money | Bible Money Matters
2. Car Allowance Rebate System Was A Success
3. Cash For Clunkers Suspended - Now Deadline Extended - Why? | Debt Free Adventure!
4. Cash For Clunkers Ended Because Funding Has Been Used Up