‘Cash-For-Clunkers’  To End Monday Night

CENTRAL OHIO—If you’re planning on taking advantage of the government’s “Cash-for-Clunkers” program, you’re running out of time.

That’s because Monday at 8 p.m., the program and those great deals will be history.

NBC 4 reported with the FAST FACTS.

During the last four weeks, a back lot at Jack Maxton Chevrolet in Worthington has gone from virtually empty to full of “clunkers.”

They’re dinged. They’re rusted. They’re downright busted.

“We got probably over 90 clunker vehicles waiting to go to the scrap yard,“ said Jack Maxton General Sales Manager Bill Bowen.

In fact, Bowen said since late July, when the program began, more than 100 people have traded in their gas guzzlers to them for $3,500 to $4,500 off a more fuel-efficient ride.

“It’s definitely been a boost for business,“ Bowen said.

He also said it’s been a big boost for consumer confidence because they’ve sold a number of vehicles outside the program such as trucks.

As the $3 billion set aside for the program runs out, came the news the program will end Monday night.

“I believe we’re going to be busy over the weekend,“ Bowen said.

While consumers have certainly made out under this program, it’s another story for dealerships.

Many are still waiting for their chunk of change.

For example, at Jack Maxton, they’ve made more than 100 deals under the program, but to date, they’ve only received nine reimbursements from the federal government.

That adds up to around $400,000 on which they’re still waiting.

“It is a little painful anytime you’re running a business and cash flow is a very important part of your business,“ Bowen said. “But we run a good business model here and have for years, and we’re going to make it through this.“

Government officials have assured dealerships they will receive the money.

It isn’t that Bowen doesn’t believe them. He does. He just wishes the process was more efficient.

“I’d hate to use the term nightmare, but the paper process is a nightmare. There are 10-page documents that have to be sent in, and every I has got to be dotted and T’s got to be crossed.“

Regardless, dealers have until 8 p.m. Monday to turn in those documents.

For additional information, stay with NBC 4 and refresh nbc4i.com—Where Accuracy Matters.
To submit a story idea or news tip, e-mail .
MORE: NBC 4 Local News | Local Crime News
NBC 4 SPORTS: Sports News, Video
NBC 4 POLITICS: Headlines, Interactives & Video