Feds allow cash for clunkers trade-ins for car orders
As the success of the cash for clunkers program has depleted dealer inventories, particularly for the most popular cars, the federal government has changed the rule for the program to allow buyers to trade in their clunkers for cars that are on order from the factories. Automotive News reports:
The U.S. government has agreed to allow dealers to submit cash-for-clunkers transactions for vehicles ordered from factories instead of just those purchased at a dealership.
That decision came today from the National Highway Traffic Safety Administration in response to dealers’ complaints about dwindling inventory on lots. The news came amid reports that the agency has rejected about 80 percent of cash-for-clunkers transactions.
Dealers who want to file deals for an ordered vehicle must first obtain the new car’s vehicle identification number from a manufacturer, NHTSA said in a statement. Reimbursement requests still must have all required documents for the trade-in vehicle.
Reps. Fred Upton and Candice Miller, both Michigan Republicans, wrote a joint letter to Transportation Secretary Ray LaHood just a few days ago urging him to make that change.
Ed Brayton writes for the Michigan Messenger, a Colorado Independent sister site.
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