Dealers Slow to Get Clunker Cash


The Wall Street Journal - August 13, 2009

Dealers are complaining that the government is slow in releasing payments as part of the federal government’s “Cash for Clunkers” program. Delay is putting several dealers in a cash flow bind. The Transportation Department blames part of the problem on incomplete or incorrect applications filed by dealers, but also said the department would be adding staff to shrink the backlog. In the meantime, some dealers are running out of clunker-eligible inventory.