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.