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Cash for Clunkers to officially begin July 23
By | June 30, 2009
Filed under: Car Buying, Government/Legal, Green
When President Obama signed the Cash-for-Clunkers bill into law back on June 24, the Transportation Department was given 30 days to set the official rules and regulations for the program that will put the plan into motion. According to the official CARS (Car Allowance Rebate System) site, NHTSA intends to get the deed done a day early by July 23. Although the paper the President signed stipulated that consumers may be eligible for the program starting on Wednesday, July 1, the Transportation Department is warning dealers not the jump the gun:
Interested dealers and consumers may want to wait until all of the detailed issues that must be addressed in the implementing regulations are resolved. If a dealer chooses to structure a transaction before the final rule is issued, they will bear the risks associated with later demonstrating that the transaction meets all of the specifications of the final rule.
Dealerships who violate the official rules and regulations may be subject to fines of up to $15,000. Still have questions? Click here to see the complete list of FAQs straight from the NHTSA.
[Source: CARS | Image: kudzuplanet under C.C. 2.0]
Cash for Clunkers to officially begin July 23 originally appeared on Autoblog on Tue, 30 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.
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